Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0226%/8h= +24.7% APRpaid last 24h +0.015%

Price spread now: OKX against Backpack−0.178%56s7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as 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−$390.387% of the position

Long on Backpack Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.198%+$20 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now −0.178%, 7d avg +0.001%

Together, before fees+0.085%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.179% cheaper against Backpack than usual: you would sell low and buy high (spread −0.178% now, against its 7-day average of +0.001%). If the spread goes back, that is −$18 on $10k: about 2.6 days of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.198% in total) that is about 6.3 days. The two prices were read 56 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	Backpack PUMP_USDC_PERP	0.004338	−0.0292	get 0.0037% / 1h	25m 11s	$774K	$182K	5x
Short	OKX PUMP-USDT-SWAP	0.004330	−0.0066	pay 0.0033% / 4h	2h 25m	$22.7M	$95.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Backpack. 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 BackpackbpFee OKXbpOrdersPrice spread, now −0.178%Rate

Funding earned: $47.4
Price spread: −0.178% → +0.001%: −$17.86
Slippage, 4 orders: −$18.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$9.14
Costs to cover: 0.387%
Break-even: 8.3 days

Slippage from Backpack: live order book, 63 min ago; OKX: live order book, 4 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 Backpack live order book, 63 min ago	0.81 bp	12.1 bp −$12	19.4 bp −$194	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.16 bp	8.6 bp −$9	26.2 bp −$262	205.6 bp −$20.6K	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	−0.3840%	1h	0.004338	+0.003%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERPlong	−0.0292%	1h	0.004338	long leg	$774K	$182K	5x
Perpl PUMP	−0.0112%	43m	0.004336	−0.039%	$20K	$204K	20x	as long as short
OKX PUMP-USDT-SWAPshort	−0.0066%	4h	0.004330	−0.178%	$22.7M	$95.8M	50x
Orderly PERP_PUMP_USDC	−0.0019%	4h	0.004335	−0.062%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004335	−0.062%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004336	−0.050%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004333	−0.108%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.869%	$29K	$766K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004336	−0.033%	$42K	—	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PUMP-PERP	+0.0100%	1h	0.004335	−0.051%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004340	+0.053%	$158.7M	$52.1M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004336	−0.039%	$786K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004337	−0.016%	$449K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004332	−0.130%	$76.9M	$164.0M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004333	−0.113%	$25K	$179K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004336	−0.039%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004334	−0.085%	$4.6M	$11.7M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004336	−0.039%	$22.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004333	−0.108%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004334	−0.085%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004332	−0.141%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004335	−0.062%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004337	−0.016%	$137K	$769K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004339	+0.030%	$97K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004335	−0.063%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004335	−0.062%	$2K	$708K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004332	−0.131%	$714	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004330	−0.178%	$21K	$148K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004331	−0.154%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004331	−0.152%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004334	−0.085%	$71K	$18K	3x	as long as short
01 Exchange PUMPUSD	+0.0112%	1h	0.004338	+0.007%	$6K	$497	10x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004338	−0.004%	$492K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004332	−0.122%	$39K	$99K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004340	+0.053%	$659K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0306% / S −0.0224%	1h	0.004334	−0.085%	$67K	—	100x	as long as short
Aftermath Perps PUMPUSD	+0.0334%	1h	0.004331	−0.144%	$200	$106K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004333	−0.108%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004335	−0.053%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	−0.316%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0684%	1h	0.004339	+0.029%	$1.3M	$3.5M	50x	as long as short