Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0067%/8h= −7.4% APRpaid last 24h −0.042%

Price spread now: Phemex against Phoenix−0.382%73s7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$930.933% of the position

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.081%−$8 on $10k

Price spread, last 3 days (all we have)+0.211%+$21 · spread now −0.382%, 7d avg −0.090%

Together, before fees+0.130%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.291% cheaper against Phoenix than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.090%). Swap the legs. The two prices were read 73 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	0.004322	0.0167	pay 0.0021% / 1h	54m 05s	$39K	$99K	10x
Short	Phemex PUMPUSDT	0.004306	0.0100	get 0.0050% / 4h	2h 54m	$2.0M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.382%Rate

Funding earned: −$14.1
Price spread: −0.382% → −0.090%: −$29.13
Slippage, 4 orders: −$74.34
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$136.57
Costs to cover: 0.933%
Break-even: never at this rate

Slippage from Phoenix: live order book, 26 min ago; Phemex: live order book, 5 min ago.

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, 26 min ago	2.09 bp	16.2 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	4.63 bp	34.1 bp −$34	doesn't fit	doesn't fit	doesn't fit

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	−0.5272%	1h	0.004312	−0.243%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0215%	1h	0.004307	−0.349%	$771K	$185K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0058%	4h	0.004306	−0.382%	$22.5M	$94.7M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0014%	4h	0.004306	−0.382%	$40K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004303	−0.451%	$19K	$202K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004309	−0.312%	$68K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004309	−0.310%	$55K	—	150x	as long as short
01 Exchange PUMPUSD	+0.0024%	1h	0.004317	−0.127%	$6K	$497	10x	as long as short
Lighter PUMP	+0.0080%	1h	0.004306	−0.382%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0080%	1h	0.004300	−0.521%	$29K	$775K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate PUMP_USDT	+0.0098%	4h	0.004305	−0.405%	$4.6M	$11.6M	75x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004303	−0.443%	$41K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004301	−0.486%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004314	−0.197%	$157.9M	$52.1M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004303	−0.459%	$781K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004311	−0.266%	$448K	$614K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004306	−0.382%	$76.4M	$165.0M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004325	+0.049%	$20K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004305	−0.405%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004307	−0.359%	$22.7M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004307	−0.359%	$17.1M	$19.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004308	−0.335%	—	$12.9M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004316	−0.151%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004317	−0.118%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004318	−0.104%	$136K	$767K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004307	−0.359%	$107K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004308	−0.345%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004309	−0.312%	$1K	$709K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004305	−0.405%	$710	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004303	−0.451%	$21K	$146K	20x	as long as short
Phemex PUMPUSDTshort	+0.0100%	4h	0.004306	−0.382%	$2.0M	$4.0M	20x
Extended PUMP-USD	+0.0104%	1h	0.004304	−0.427%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004305	−0.405%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004307	−0.347%	$491K	$1.0M	10x	as long as short
Phoenix PUMPlong	+0.0167%	1h	0.004322	long leg	$39K	$99K	10x
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004313	−0.220%	$654K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0221%	1h	0.004308	−0.335%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004321	−0.035%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004305	−0.414%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0344%	1h	0.004318	−0.115%	$473	$105K	10x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004327	+0.104%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0689%	1h	0.004309	−0.302%	$1.3M	$3.5M	50x	as long as short