PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0124%/8h= −13.5% APRnext payment −$0.15 per $10,000 · paid last 24h −0.001%

Price spread now: Backpack against Polymarket Perps−0.670%7-day average −0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Polymarket Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.668%+$67 · spread now −0.670%, 7d avg −0.070%

Together, before fees+0.597%+$60 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Backpack is 0.600% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$60 if the spread goes back to its 7-day average of −0.070%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PUMP-USD	0.004421	0.0100	pay 0.0013% / 1h	32m 29s	$102K	$2.1M	10x
Short	Backpack PUMP_USDC_PERP	0.004391	−0.0024	pay 0.0003% / 1h	32m 29s	$778K	$200K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Polymarket Perps. 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 Polymarket PerpsbpFee BackpackbpOrdersPrice spread, now −0.670%Rate

Funding earned: −$25.94
Price spread: −0.670% → −0.070%: −$59.99
Slippage, 4 orders: −$19.99
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$123.93
Costs to cover: 0.380%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Backpack: live order book, 26 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 Polymarket Perps live order book, 1 min ago	3.42 bp	7.4 bp −$7	8.0 bp −$80	doesn't fit	doesn't fit
Sell Backpack live order book, 26 min ago	2.50 bp	7.7 bp −$8	13.3 bp −$133	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
Backpack PUMP_USDC_PERPshort	−0.0024%	1h	0.004391	−0.670%	$778K	$200K	5x
dYdX PUMP-USD	−0.0001%	1h	0.004401	−0.448%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004421	0.000%	$19K	$235K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004390	−0.701%	$53K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004399	−0.498%	$2.8M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−0.475%	$28K	$823K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004421	0.000%	$1.6M	$2.1M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004395	−0.593%	$684K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004401	−0.452%	$491K	$821K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004413	−0.181%	$80.3M	$173.6M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004415	−0.136%	$24.0M	$97.7M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004370	−1.163%	$36K	$181K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004409	−0.271%	$62K	$102K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004398	−0.520%	$4.9M	$11.3M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004395	−0.588%	$23.5M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004424	+0.068%	$17.7M	$20.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004404	−0.385%	—	$13.0M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004372	−1.115%	$64K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004372	−1.106%	$1.2M	$10.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004376	−1.018%	$145K	$755K	50x	as long as short
Polymarket Perps PUMP-USDlong	+0.0100%	1h	0.004421	long leg	$102K	$2.1M	10x
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004391	−0.679%	$41K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004391	−0.674%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004387	−0.769%	$2K	$769K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004392	−0.656%	$276	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004386	−0.792%	$21K	$111K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004391	−0.679%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004404	−0.387%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004391	−0.679%	$70K	$8K	3x	as long as short
Extended PUMP-USD	+0.0176%	1h	0.004404	−0.376%	$3.8M	$4.3M	50x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0205%	1h	0.004393	−0.633%	$70K	$123K	25x	as long as short
01 Exchange PUMPUSD	+0.0248%	1h	0.004408	−0.294%	$6K	$727	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0269% / S −0.0198%	1h	0.004388	−0.746%	$53K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004391	−0.679%	$3.6M	$4.4M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004422	+0.017%	$2	—	3x	as long as short
Phoenix PUMP	+0.0345%	1h	0.004374	−1.070%	$42K	$120K	10x	as long as short
Hyperliquid PUMP	+0.0403%	1h	0.004432	+0.249%	$166.2M	$56.6M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0440%	1h	0.004388	−0.746%	$694K	$5.8M	50x	as long as short
RISEx PUMP/USDC	+0.0570%	1h	0.004412	−0.195%	$524K	$1.0M	10x	as long as short
Injective PUMP/USDC PERP	+0.0706%	1h	0.004378	−0.973%	$38K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0806%	1h	0.004394	−0.603%	$1.0M	$3.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0878%	1h	0.004375	−1.051%	$578	$115K	10x	as long as short