PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0458%/8h= +50.1% APRnext payment +$0.57 per $10,000 · paid last 24h +0.001%

Price spread now: Polymarket Perps against Backpack−0.005%7-day average +0.070% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

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

Long on Backpack Short on Polymarket Perps

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)+0.006%+$1 · spread now −0.005%, 7d avg +0.070%

Together, before fees+0.077%+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.074% cheaper against Backpack than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.070%). If the spread goes back, that is −$7 on $10k: about 13 hours of funding at the current rate (+$14 a day). At the pace of the last 7 days (+0.071% in total) that is about 7.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.071% in total (about 3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.57 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack PUMP_USDC_PERP	0.004356	−0.0358	get 0.0045% / 1h	49m 42s	$772K	$201K	5x
Short	Polymarket Perps PUMP-USD	0.004356	0.0100	get 0.0013% / 1h	49m 42s	$97K	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.005%Rate

Funding earned: $96.14
Price spread: −0.005% → +0.070%: −$7.42
Slippage, 4 orders: −$20.03
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $50.68
Costs to cover: 0.380%
Break-even: 3.3 days

Slippage from Backpack: live order book, 9 min ago; Polymarket Perps: 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, 9 min ago	2.50 bp	13.3 bp −$13	23.4 bp −$234	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 4 min ago	3.42 bp	7.4 bp −$7	8.0 bp −$80	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_PERPlong	−0.0358%	1h	0.004356	long leg	$772K	$201K	5x
dYdX PUMP-USD	0.0000%	1h	0.004353	−0.067%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004353	−0.073%	$17K	$235K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004356	−0.007%	$52K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004357	+0.018%	$2.8M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−1.290%	$28K	$818K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004352	−0.100%	$684K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004356	−0.005%	$486K	$820K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004354	−0.055%	$79.2M	$173.2M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004353	−0.073%	$23.8M	$96.6M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004378	+0.512%	$36K	$186K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004352	−0.096%	$61K	$102K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004352	−0.096%	$4.8M	$11.2M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004357	+0.018%	$23.3M	$14.0M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004353	−0.073%	$17.4M	$20.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004352	−0.096%	—	$13.0M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004379	+0.514%	$66K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004377	+0.484%	$1.2M	$10.5M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004379	+0.523%	$145K	$752K	50x	as long as short
Polymarket Perps PUMP-USDshort	+0.0100%	1h	0.004356	−0.005%	$97K	$2.1M	10x
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004357	+0.018%	$41K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004356	+0.001%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004357	+0.018%	$2K	$765K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004357	+0.018%	$273	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004347	−0.211%	$21K	$112K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004354	−0.051%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004359	+0.068%	$41K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004355	−0.028%	$69K	$11K	3x	as long as short
Nado PUMP-PERP	+0.0113%	1h	0.004352	−0.085%	$1.6M	$2.1M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0191% / S −0.0050%	1h	0.004356	−0.005%	$59K	—	100x	as long as short
Extended PUMP-USD	+0.0200%	1h	0.004350	−0.134%	$3.8M	$4.3M	50x	as long as short
01 Exchange PUMPUSD	+0.0256%	1h	0.004356	−0.005%	$6K	$727	10x	as long as short
Hyperliquid PUMP	+0.0290%	1h	0.004361	+0.110%	$162.7M	$56.2M	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004355	−0.028%	$3.6M	$4.4M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004355	−0.032%	$2	—	3x	as long as short
Phoenix PUMP	+0.0345%	1h	0.004377	+0.477%	$42K	$120K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0439%	1h	0.004360	+0.087%	$69K	$124K	25x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0440%	1h	0.004359	+0.064%	$690K	$5.8M	50x	as long as short
RISEx PUMP/USDC	+0.0570%	1h	0.004356	+0.006%	$518K	$1.0M	10x	as long as short
Injective PUMP/USDC PERP	+0.0706%	1h	0.004374	+0.409%	$38K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0813%	1h	0.004359	+0.063%	$1.0M	$3.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0888%	1h	0.004382	+0.588%	$579	$115K	10x	as long as short