Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.037%

Price spread now: Paradex against Phoenix−0.247%46s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Paradex is 0.247% cheaper against Phoenix than usual: you would sell low and buy high (−$25 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PUMP	0.004308	0.0129	pay 0.0016% / 1h	45m 59s	$39K	$99K	10x
Short	Paradex PUMP-USD-PERP	0.004297	0.0100	get 0.0100% / 8h	2h 45m	$41K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee ParadexbpOrdersPrice spread, now −0.247%Rate

Funding earned: −$6.18
Price spread: −0.247% → 0.000%: −$24.74
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$41.92
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 35 min ago; Paradex: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix live order book, 35 min ago	2.09 bp	16.2 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PUMP on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX PUMP-USD	−0.3161%	1h	0.004299	−0.212%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0545%	1h	0.004297	−0.248%	$769K	$184K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0071%	4h	0.004297	−0.258%	$22.5M	$94.2M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0016%	4h	0.004300	−0.188%	$40K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004298	−0.234%	$19K	$204K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004302	−0.142%	$68K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004300	−0.191%	$54K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004298	−0.234%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004200	−2.509%	$28K	$775K	20x	as long as short
Paradex PUMP-USD-PERPshort	+0.0100%	8h	0.004297	−0.247%	$41K	—	5x

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PUMP-PERP	+0.0100%	1h	0.004296	−0.269%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004301	−0.165%	$157.2M	$52.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004298	−0.244%	$780K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004298	−0.234%	$447K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004298	−0.232%	$76.3M	$164.8M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004306	−0.056%	$25K	$183K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004297	−0.258%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004297	−0.258%	$4.6M	$11.6M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004300	−0.188%	$22.7M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004297	−0.258%	$16.9M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004298	−0.234%	—	$12.8M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004305	−0.081%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004305	−0.081%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004301	−0.165%	$136K	$767K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004301	−0.165%	$107K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004300	−0.188%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004299	−0.211%	$1K	$709K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004298	−0.234%	$709	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004293	−0.351%	$21K	$146K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004298	−0.234%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004297	−0.255%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004298	−0.234%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004299	−0.212%	$489K	$1.0M	10x	as long as short
Phoenix PUMPlong	+0.0129%	1h	0.004308	long leg	$39K	$99K	10x
01 Exchange PUMPUSD	+0.0144%	1h	0.004299	−0.211%	$6K	$497	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004303	−0.118%	$652K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0221%	1h	0.004299	−0.211%	$66K	—	100x	as long as short
Aftermath Perps PUMPUSD	+0.0305%	1h	0.004305	−0.075%	$179	$107K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004296	−0.281%	$3.4M	$3.6M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004297	−0.267%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	+0.369%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0690%	1h	0.004304	−0.088%	$1.3M	$3.5M	50x	as long as short