PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0135%/8h= +14.8% APRnext payment +$0.17 per $10,000 · paid last 24h +0.074%

Price spread now: Phoenix against Polymarket Perps+0.217%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$470.475% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.258%+$26 on $10k

Price spread, last 4 days (all we have)−0.447%−$45 · spread now +0.217%, 7d avg +0.075%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phoenix is 0.142% dearer against Polymarket Perps than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PUMP-USD	0.004469	0.0100	pay 0.0013% / 1h	32m 52s	$102K	$2.0M	10x
Short	Phoenix PUMP	0.004479	0.0235	get 0.0029% / 1h	32m 52s	$42K	$103K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.217%Rate

Funding earned: $28.3
Price spread: +0.217% → +0.075%: $14.21
Slippage, 4 orders: −$32.5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$4.98
Costs to cover: 0.475%
Break-even: 8.2 days

Slippage from Polymarket Perps: live order book, 6 min ago; Phoenix: live order book, 20 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, 6 min ago	3.39 bp	7.4 bp −$7	8.4 bp −$84	doesn't fit	doesn't fit
Sell Phoenix live order book, 20 min ago	2.04 bp	16.1 bp −$16	50.4 bp −$504	doesn't fit	doesn't fit

PUMP on 41 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	−0.0650%	1h	0.004473	+0.092%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004465	−0.090%	$18K	$203K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004464	−0.112%	$71K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004465	−0.092%	$54K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0066%	4h	0.004463	−0.134%	$42K	$10K	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004463	−0.134%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.544%	$27K	$768K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004464	−0.101%	$1.7M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004469	0.000%	$723K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004467	−0.045%	$499K	$653K	10x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PUMPUSDT	+0.0100%	4h	0.004474	+0.110%	$80.7M	$166.0M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004476	+0.157%	$24.0M	$98.2M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004477	+0.186%	$21K	$170K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004465	−0.090%	$39K	$63K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004471	+0.045%	$4.9M	$10.5M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004475	+0.134%	$23.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004473	+0.090%	$17.7M	$19.5M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004472	+0.067%	—	$12.8M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004462	−0.152%	$794K	$185K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004476	+0.150%	$65K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004483	+0.313%	$1.3M	$10.5M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004476	+0.157%	$139K	$755K	50x	as long as short
Polymarket Perps PUMP-USDlong	+0.0100%	1h	0.004469	long leg	$102K	$2.0M	10x
Derive PUMP-PERP	+0.0100%	1h	0.004463	−0.127%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004464	−0.112%	$2K	$736K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004465	−0.090%	$280	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004468	−0.022%	$21K	$118K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004461	−0.179%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0102%	8h	0.004471	+0.045%	$42K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004473	+0.097%	$3.8M	$4.1M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004462	−0.157%	$71K	$8K	3x	as long as short
01 Exchange PUMPUSD	+0.0232%	1h	0.004467	−0.045%	$6K	$727	10x	as long as short
Phoenix PUMPshort	+0.0235%	1h	0.004479	+0.217%	$42K	$103K	10x
RISEx PUMP/USDC	+0.0322%	1h	0.004468	−0.034%	$487K	$990K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004465	−0.094%	$2	—	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0358% / S −0.0289%	1h	0.004466	−0.067%	$72K	—	100x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0408%	1h	0.004467	−0.045%	$720K	$5.7M	50x	as long as short
Hyperliquid PUMP	+0.0543%	1h	0.004470	+0.022%	$166.6M	$54.2M	10x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004469	0.000%	$39K	$203K	12x	as long as short
Aftermath Perps PUMPUSD	+0.0715%	1h	0.004447	−0.488%	$390	$113K	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.1246%	1h	0.004467	−0.042%	$1.3M	$3.1M	50x	as long as short