Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0452%/8h= −49.5% APRpaid last 24h −0.057%

Price spread now: Phemex against Coinbase International−0.199%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$840.838% of the position

Long on Coinbase International Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.154%+$15 · spread now −0.199%, 7d avg −0.031%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Phemex is 0.168% cheaper against Coinbase International than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.013% in total (about -0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PUMP-PERP-INTX	0.004521	0.0552	pay 0.0069% / 1h	18m 01s	$699K	$6.1M	50x
Short	Phemex PUMPUSDT	0.004512	0.0100	get 0.0050% / 4h	2h 18m	$1.9M	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Coinbase International. 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 Coinbase InternationalbpFee PhemexbpOrdersPrice spread, now −0.199%Rate

Funding earned: −$94.92
Price spread: −0.199% → −0.031%: −$16.8
Slippage, 4 orders: −$61.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$195.52
Costs to cover: 0.838%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 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 Coinbase International live order book, 4 min ago	3.32 bp	8.3 bp −$8	13.9 bp −$139	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	7.76 bp	23.6 bp −$24	doesn't fit	doesn't fit	doesn't fit

PUMP on 41 exchanges

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	−0.1237%	1h	0.004507	−0.307%	$21K	$11K	5x	as long as short
Gate PUMP_USDT	−0.0140%	4h	0.004514	−0.155%	$4.8M	$9.7M	75x	as long as short
Perpl PUMP	0.0000%	43m	0.004515	−0.133%	$18K	$263K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004501	−0.434%	$54K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004517	−0.088%	$2.9M	$2.7M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−0.464%	$37K	$588K	20x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004518	−0.066%	$168.1M	$48.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004514	−0.155%	$836K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004509	−0.265%	$512K	$848K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004518	−0.057%	$82.0M	$173.7M	75x	as long as short

Show all 41 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004517	−0.088%	$24.7M	$101.6M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004513	−0.186%	$27K	$151K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004518	−0.066%	$50K	$152K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004518	−0.066%	$25.0M	$13.7M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004514	−0.155%	$17.7M	$19.0M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004513	−0.177%	—	$14.5M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004514	−0.150%	$815K	$213K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004508	−0.278%	$66K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004506	−0.332%	$1.3M	$10.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004510	−0.243%	$160K	$744K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004521	0.000%	$107K	$1.8M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004516	−0.111%	$42K	$2K	10x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004515	−0.133%	$2K	$778K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004517	−0.088%	$548	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004502	−0.420%	$23K	$126K	20x	as long as short
Phemex PUMPUSDTshort	+0.0100%	4h	0.004512	−0.199%	$1.9M	$3.8M	20x
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004509	−0.256%	$43K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004515	−0.130%	$3.8M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004518	−0.066%	$67K	$10K	3x	as long as short
Nado PUMP-PERP	+0.0216%	1h	0.004518	−0.055%	$1.6M	$2.1M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0301% / S −0.0272%	1h	0.004502	−0.420%	$64K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0320%	1h	0.004520	−0.022%	$6K	$465	10x	as long as short
Phoenix PUMP	+0.0331%	1h	0.004516	−0.119%	$44K	$142K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004505	−0.354%	$3.8M	$4.5M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004518	−0.076%	$2	—	3x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0414%	1h	0.004519	−0.044%	$69K	$103K	25x	as long as short
Coinbase International PUMP-PERP-INTXlong	+0.0552%	1h	0.004521	long leg	$699K	$6.1M	50x
Kraken Futures PF_PUMPUSD	+0.0672%	1h	0.004518	−0.057%	$1.1M	$3.3M	50x	as long as short
RISEx PUMP/USDC	+0.0683%	1h	0.004518	−0.066%	$567K	$960K	10x	as long as short
Aftermath Perps PUMPUSD	+0.0932%	1h	0.004512	−0.203%	$499	$98K	10x	as long as short
Injective PUMP/USDC PERP	+0.0983%	1h	0.004520	−0.022%	$37K	$205K	12x	as long as short