Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.103%

Price spread now: Backpack against BloFin+0.004%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on BloFin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.665%−$67 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.004%, 7d avg −0.048%

Together, before fees−0.708%−$71 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.053% dearer against BloFin than usual: you sell high and buy low (spread +0.004% now, against its 7-day average of −0.048%): +$5 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PUMP-USDT	0.004497	0.0340	pay 0.0170% / 4h	2h 16m	$3.7M	$4.5M	75x
Short	Backpack PUMP_USDC_PERP	0.004497	0.0100	get 0.0013% / 1h	16m 30s	$809K	$201K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BloFin. 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 BloFinbpFee BackpackbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$50.4
Price spread: +0.004% → −0.048%: $5.26
Slippage, 4 orders: −$23.85
Fee BloFin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$90.99
Costs to cover: 0.459%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Backpack: live order book, 32 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 BloFin live order book, 2 min ago	4.44 bp	10.4 bp −$10	16.3 bp −$163	40.0 bp −$4,002	120.7 bp −$60.4K
Sell Backpack live order book, 32 min ago	2.67 bp	7.9 bp −$8	16.8 bp −$168	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
dYdX PUMP-USD	−0.0009%	1h	0.004494	−0.061%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004490	−0.156%	$18K	$247K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004490	−0.157%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004496	−0.022%	$2.9M	$4.7M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−2.157%	$33K	$639K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004497	+0.010%	$717K	$2.2M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004494	−0.067%	$532K	$880K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004494	−0.060%	$82.5M	$167.0M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004491	−0.133%	$24.6M	$95.9M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004501	+0.096%	$27K	$168K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PUMP-USD	+0.0100%	1h	0.004498	+0.022%	$65K	$103K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004491	−0.133%	$5.0M	$10.5M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004501	+0.089%	$24.2M	$13.6M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004493	−0.089%	$17.8M	$18.5M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004491	−0.133%	—	$13.9M	—	as long as short
Backpack PUMP_USDC_PERPshort	+0.0100%	1h	0.004497	+0.004%	$809K	$201K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004479	−0.409%	$67K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004498	+0.022%	$1.3M	$10.2M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004506	+0.200%	$152K	$747K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004497	0.000%	$113K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004500	+0.067%	$43K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004497	+0.010%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004498	+0.022%	$2K	$749K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004500	+0.067%	$282	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004496	−0.022%	$21K	$93K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004500	+0.067%	$2.0M	$3.9M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004493	−0.083%	$3.8M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004495	−0.044%	$67K	$10K	3x	as long as short
Paradex PUMP-USD-PERP	+0.0106%	8h	0.004495	−0.052%	$43K	$276	5x	as long as short
Nado PUMP-PERP	+0.0115%	1h	0.004494	−0.056%	$1.6M	$2.1M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0272% / S −0.0200%	1h	0.004496	−0.022%	$54K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0328%	1h	0.004502	+0.111%	$6K	$600	10x	as long as short
BloFin PUMP-USDTlong	+0.0340%	4h	0.004497	long leg	$3.7M	$4.5M	75x
Reya PUMPRUSDPERP	+0.0344%	1h	0.004494	−0.071%	$2	—	3x	as long as short
Phoenix PUMP	+0.0356%	1h	0.004504	+0.156%	$46K	$119K	10x	as long as short
Hyperliquid PUMP	+0.0426%	1h	0.004499	+0.044%	$167.6M	$50.1M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0480%	1h	0.004503	+0.133%	$723K	$5.6M	50x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004514	+0.378%	$38K	$204K	12x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0639%	1h	0.004501	+0.089%	$70K	$115K	25x	as long as short
RISEx PUMP/USDC	+0.0682%	1h	0.004498	+0.029%	$534K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0813%	1h	0.004501	+0.082%	$1.0M	$3.3M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1108%	1h	0.004484	−0.295%	$721	$111K	10x	as long as short