Funding arb · Price arb /

PUMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0120%/8h= −13.2% APRpaid last 24h −0.008%

Price spread now: Orderly against Derive−0.032%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Derive Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.032% cheaper against Derive than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive PUMP-PERP	0.004346	0.0100	pay 0.0013% / 1h	21m 46s	$5K	$13K	6.7x
Short	Orderly PERP_PUMP_USDC	0.004345	−0.0020	pay 0.0010% / 4h	2h 21m	$41K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Derive. 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 DerivebpFee OrderlybpOrdersPrice spread, now −0.032%Rate

Funding earned: −$25.28
Price spread: −0.032% → 0.000%: −$3.21
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$40.5
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Orderly: no order-book sample. Net counts fees only.

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 Derive no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Derive and Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.4410%	1h	0.004346	−0.009%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0249%	1h	0.004345	−0.034%	$774K	$183K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004345	−0.032%	$20K	$206K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0066%	4h	0.004343	−0.078%	$22.7M	$96.3M	50x	as long as short
Orderly PERP_PUMP_USDCshort	−0.0020%	4h	0.004345	−0.032%	$41K	$10K	10x
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004346	−0.009%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004347	+0.025%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0086%	4h	0.004342	−0.101%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004343	−0.078%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−1.067%	$29K	$766K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004344	−0.063%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004345	−0.021%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004350	+0.083%	$159.6M	$52.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004343	−0.068%	$787K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004345	−0.032%	$450K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004343	−0.078%	$77.1M	$164.3M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004345	−0.044%	$26K	$179K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004343	−0.078%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004347	+0.014%	$22.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004343	−0.078%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004342	−0.101%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004332	−0.341%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004335	−0.262%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004337	−0.216%	$137K	$769K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004348	+0.037%	$97K	$1.9M	10x	as long as short
Derive PUMP-PERPlong	+0.0100%	1h	0.004346	long leg	$5K	$13K	6.7x
SunX PUMP-USDT	+0.0100%	4h	0.004347	+0.014%	$2K	$709K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004345	−0.032%	$717	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004347	+0.014%	$22K	$148K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004344	−0.055%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004343	−0.078%	$3.6M	$3.7M	50x	as long as short
01 Exchange PUMPUSD	+0.0104%	1h	0.004346	−0.009%	$6K	$497	10x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004344	−0.055%	$72K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004345	−0.037%	$493K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004341	−0.115%	$39K	$99K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004357	+0.244%	$662K	$5.5M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0307% / S −0.0224%	1h	0.004346	−0.009%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004353	+0.152%	$3.5M	$3.7M	75x	as long as short
Aftermath Perps PUMPUSD	+0.0343%	1h	0.004338	−0.184%	$180	$106K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004344	−0.048%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	−0.515%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0682%	1h	0.004351	+0.102%	$1.3M	$3.5M	50x	as long as short