Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.031%

Price spread now: Phemex against Backpack+0.061%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$820.825% of the position

Long on Backpack Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.245%+$25 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now +0.061%, 7d avg +0.033%

Together, before fees+0.241%+$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.028% dearer against Backpack than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PUMP_USDC_PERP	0.004583	0.0100	pay 0.0013% / 1h	9m 59s	$821K	$212K	5x
Short	Phemex PUMPUSDT	0.004586	0.0100	get 0.0050% / 4h	3h 09m	$2.0M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → +0.033%: $2.84
Slippage, 4 orders: −$60.45
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$79.62
Costs to cover: 0.825%
Break-even: never at this rate

Slippage from Backpack: live order book, 24 min ago; Phemex: 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, 24 min ago	1.99 bp	7.0 bp −$7	18.5 bp −$185	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	8.75 bp	22.4 bp −$22	doesn't fit	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	−0.2297%	1h	0.004581	−0.048%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004581	−0.048%	$18K	$261K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0003%	1h	0.004580	−0.080%	$61K	—	150x	as long as short
Gate PUMP_USDT	+0.0034%	4h	0.004580	−0.070%	$4.9M	$10.2M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004588	+0.105%	$3.0M	$4.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−1.815%	$30K	$668K	20x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004587	+0.083%	$170.7M	$50.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004582	−0.017%	$865K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004584	+0.017%	$525K	$869K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004582	−0.027%	$83.5M	$175.6M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004578	−0.113%	$25.2M	$103.4M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004583	+0.007%	$27K	$154K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004588	+0.105%	$51K	$152K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004586	+0.061%	$25.2M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004580	−0.070%	$18.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004584	+0.017%	—	$14.6M	—	as long as short
Backpack PUMP_USDC_PERPlong	+0.0100%	1h	0.004583	long leg	$821K	$212K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004582	−0.035%	$67K	$3.3M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004581	−0.057%	$1.3M	$10.9M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004570	−0.288%	$162K	$744K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004591	+0.170%	$107K	$2.2M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004584	+0.017%	$43K	$2K	10x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004587	+0.083%	$1K	$784K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004584	+0.017%	$255	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004579	−0.092%	$22K	$126K	20x	as long as short
Phemex PUMPUSDTshort	+0.0100%	4h	0.004586	+0.061%	$2.0M	$3.9M	20x
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004587	+0.075%	$44K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004580	−0.064%	$3.9M	$4.0M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004582	−0.026%	$68K	$10K	3x	as long as short
Nado PUMP-PERP	+0.0302%	1h	0.004589	+0.137%	$1.7M	$2.1M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0274%	1h	0.004586	+0.061%	$66K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0304%	1h	0.004590	+0.148%	$6K	$600	10x	as long as short
Phoenix PUMP	+0.0332%	1h	0.004578	−0.107%	$45K	$146K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004583	−0.004%	$3.8M	$4.8M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004584	+0.012%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0344%	1h	0.004582	−0.026%	$38K	$204K	12x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0404%	1h	0.004587	+0.083%	$70K	$109K	25x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0544%	1h	0.004596	+0.279%	$747K	$6.3M	50x	as long as short
RISEx PUMP/USDC	+0.0741%	1h	0.004588	+0.112%	$533K	$1.1M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0807%	1h	0.004587	+0.085%	$1.1M	$3.6M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0978%	1h	0.004582	−0.026%	$507	$104K	10x	as long as short