Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0256%/8h= +28.0% APRpaid last 24h +0.034%

Price spread now: Phoenix against Gate−0.089%77s7-day average +0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$730.728% of the position

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.170%+$17 on $10k

Price spread, last 4 days (all we have)+0.507%+$51 · spread now −0.089%, 7d avg +0.127%

Together, before fees+0.677%+$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.216% cheaper against Gate than usual: you would sell low and buy high (spread −0.089% now, against its 7-day average of +0.127%). If the spread goes back, that is −$22 on $10k: about 2.8 days of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.170% in total) that is about 8.9 days. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.170% in total (about 8.9% a year). A funding rate is set anew for every payment. 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	Gate PUMP_USDT	0.004500	0.0100	pay 0.0050% / 4h	2h 18m	$5.0M	$10.5M	75x
Short	Phoenix PUMP	0.004496	0.0356	get 0.0045% / 1h	18m 01s	$46K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now −0.089%Rate

Funding earned: $53.76
Price spread: −0.089% → +0.127%: −$21.6
Slippage, 4 orders: −$50.82
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$40.65
Costs to cover: 0.728%
Break-even: 12.3 days

Slippage from Gate: live order book, 1 min ago; Phoenix: live order book, 15 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 Gate live order book, 1 min ago	3.34 bp	20.1 bp −$20	39.7 bp −$397	75.3 bp −$7,526	doesn't fit
Sell Phoenix live order book, 15 min ago	2.02 bp	16.1 bp −$16	50.6 bp −$506	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	−0.0010%	1h	0.004494	−0.128%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004494	−0.133%	$18K	$247K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004498	−0.054%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004502	+0.044%	$2.9M	$4.7M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−2.222%	$33K	$639K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004504	+0.082%	$718K	$2.2M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004493	−0.156%	$532K	$880K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004505	+0.111%	$82.7M	$167.1M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004505	+0.111%	$24.6M	$96.2M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004501	+0.029%	$26K	$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	0.004495	−0.111%	$65K	$103K	10x	as long as short
Gate PUMP_USDTlong	+0.0100%	4h	0.004500	long leg	$5.0M	$10.5M	75x
KuCoin PUMPUSDTM	+0.0100%	4h	0.004505	+0.111%	$24.2M	$13.6M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004503	+0.067%	$17.8M	$18.5M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004501	+0.022%	—	$13.9M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004503	+0.078%	$811K	$201K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004479	−0.476%	$67K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004444	−1.243%	$1.2M	$10.1M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004433	−1.489%	$149K	$748K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004497	−0.067%	$113K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004501	+0.022%	$43K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004498	−0.034%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004500	0.000%	$2K	$749K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004501	+0.022%	$282	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004490	−0.222%	$21K	$93K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004502	+0.044%	$2.0M	$3.9M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004501	+0.030%	$3.8M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004495	−0.111%	$67K	$10K	3x	as long as short
Paradex PUMP-USD-PERP	+0.0107%	8h	0.004492	−0.176%	$43K	$276	5x	as long as short
Nado PUMP-PERP	+0.0115%	1h	0.004493	−0.144%	$1.6M	$2.1M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0272% / S −0.0200%	1h	0.004496	−0.089%	$54K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0328%	1h	0.004498	−0.044%	$6K	$600	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004496	−0.089%	$3.7M	$4.5M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004497	−0.071%	$2	—	3x	as long as short
Phoenix PUMPshort	+0.0356%	1h	0.004496	−0.089%	$46K	$119K	10x
Deribit PUMP_USDC-PERPETUAL	+0.0417%	1h	0.004502	+0.044%	$70K	$115K	25x	as long as short
Hyperliquid PUMP	+0.0426%	1h	0.004510	+0.222%	$168.0M	$50.0M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0480%	1h	0.004503	+0.067%	$725K	$5.6M	50x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004491	−0.200%	$38K	$204K	12x	as long as short
RISEx PUMP/USDC	+0.0682%	1h	0.004496	−0.078%	$534K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0813%	1h	0.004502	+0.049%	$1.0M	$3.3M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1100%	1h	0.004472	−0.622%	$719	$111K	10x	as long as short