Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0241%/8h= −26.4% APRpaid last 24h −0.082%

Price spread now: Perpl against Phoenix−0.215%61s7-day average −0.099% · you buy dearer than you sell

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

Long on Phoenix Short on Perpl

What this pair did over the last

the charts below follow

Funding, last 7 days−0.286%−$29 on $10k

Price spread, last 3 days (all we have)+0.256%+$26 · spread now −0.215%, 7d avg −0.099%

Together, before fees−0.030%+ Points / potential airdropPerpl: Active · farm board−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Perpl is 0.116% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.099%). Swap the legs. The two prices were read 61 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	0.004335	0.0129	pay 0.0016% / 1h	13m 43s	$39K	$99K	10x
Short	Perpl PUMP	0.004326	−0.0112	pay 0.0010% / 43m	0m 43s	$20K	$206K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Perpl 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 PerplbpOrdersPrice spread, now −0.215%Rate

Funding earned: −$50.62
Price spread: −0.215% → −0.099%: −$11.57
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Net: −$82.99
Costs to cover: 0.208%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 67 min ago; Perpl: 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, 67 min ago	2.09 bp	16.2 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell Perpl no order-book sample	—	—	—	—	—

Perpl: 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	−0.5137%	1h	0.004327	−0.198%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0227%	1h	0.004327	−0.198%	$771K	$183K	5x	as long as short
Perpl PUMPshort	−0.0112%	43m	0.004326	−0.215%	$20K	$206K	20x
OKX PUMP-USDT-SWAP	−0.0065%	4h	0.004323	−0.284%	$22.6M	$95.7M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0025%	4h	0.004326	−0.215%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004330	−0.122%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004327	−0.180%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0052%	4h	0.004324	−0.261%	$4.6M	$11.7M	75x	as long as short
01 Exchange PUMPUSD	+0.0088%	1h	0.004329	−0.145%	$6K	$497	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004323	−0.284%	$2.9M	$5.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.814%	$29K	$766K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004323	−0.288%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004326	−0.203%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004333	−0.053%	$158.8M	$52.5M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004326	−0.215%	$780K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004326	−0.215%	$448K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004324	−0.264%	$76.8M	$164.2M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004331	−0.090%	$25K	$179K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004324	−0.261%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004328	−0.168%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004325	−0.238%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004325	−0.238%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004333	−0.060%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004333	−0.062%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004336	+0.016%	$137K	$770K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004330	−0.122%	$91K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004328	−0.170%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004329	−0.145%	$2K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004326	−0.215%	$713	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004329	−0.145%	$21K	$147K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004328	−0.168%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004323	−0.285%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004325	−0.238%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004326	−0.226%	$491K	$1.0M	10x	as long as short
Phoenix PUMPlong	+0.0129%	1h	0.004335	long leg	$39K	$99K	10x
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004334	−0.030%	$658K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0307% / S −0.0225%	1h	0.004327	−0.191%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004326	−0.215%	$3.4M	$3.7M	75x	as long as short
Aftermath Perps PUMPUSD	+0.0342%	1h	0.004333	−0.045%	$180	$106K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004326	−0.209%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	−0.261%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0685%	1h	0.004332	−0.077%	$1.3M	$3.5M	50x	as long as short