PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0415%/8h= −45.4% APRnext payment −$0.52 per $10,000 · paid last 24h −0.044%

Price spread now: Deribit against Hyperliquid−0.067%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$470.474% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$27 on $10k

Price spread, last 3 days (all we have)+0.125%+$13 · spread now −0.067%, 7d avg −0.061%

Together, before fees−0.140%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.061%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.265% in total (about -13.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.52 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	Hyperliquid PUMP	0.004502	0.0610	pay 0.0076% / 1h	28m 20s	$168.0M	$54.6M	10x
Short	Deribit PUMP_USDC-PERPETUAL	0.004499	0.0195	get 0.0024% / 1h	28m 20s	$71K	$124K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Hyperliquid. 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 HyperliquidbpFee DeribitbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$87.07
Price spread: −0.067% → −0.061%: −$0.52
Slippage, 4 orders: −$31.4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$134.99
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Deribit: live order book, 40 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 Hyperliquid live order book, 6 min ago	1.12 bp	5.6 bp −$6	19.7 bp −$197	doesn't fit	doesn't fit
Sell Deribit live order book, 40 min ago	8.93 bp	16.8 bp −$17	doesn't fit	doesn't fit	doesn't fit

PUMP on 41 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	−0.1887%	1h	0.004486	−0.350%	$21K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004493	−0.200%	$18K	$207K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004496	−0.132%	$54K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0070%	4h	0.004497	−0.111%	$42K	$10K	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004487	−0.333%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−2.266%	$29K	$770K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004492	−0.211%	$1.7M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004492	−0.218%	$728K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004487	−0.333%	$492K	$662K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004495	−0.155%	$81.0M	$165.8M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004497	−0.111%	$24.3M	$98.6M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004480	−0.480%	$21K	$170K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004493	−0.200%	$40K	$63K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004490	−0.267%	$4.8M	$10.9M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004497	−0.111%	$23.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004499	−0.067%	$17.8M	$19.5M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004495	−0.155%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004486	−0.358%	$799K	$185K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004488	−0.316%	$67K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004466	−0.800%	$1.3M	$10.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004485	−0.378%	$139K	$754K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004498	−0.089%	$104K	$2.1M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004496	−0.122%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004494	−0.178%	$2K	$737K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004499	−0.067%	$282	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004473	−0.644%	$21K	$118K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004479	−0.511%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0102%	8h	0.004494	−0.181%	$43K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004497	−0.104%	$3.8M	$4.1M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004495	−0.155%	$72K	$8K	3x	as long as short
Deribit PUMP_USDC-PERPETUALshort	+0.0195%	1h	0.004499	−0.067%	$71K	$124K	25x
Phoenix PUMP	+0.0235%	1h	0.004489	−0.298%	$42K	$103K	10x	as long as short
01 Exchange PUMPUSD	+0.0248%	1h	0.004497	−0.111%	$6K	$727	10x	as long as short
RISEx PUMP/USDC	+0.0322%	1h	0.004496	−0.144%	$531K	$1.0M	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004494	−0.182%	$2	—	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0360% / S −0.0290%	1h	0.004493	−0.200%	$73K	—	100x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0408%	1h	0.004486	−0.355%	$715K	$5.8M	50x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004492	−0.222%	$39K	$203K	12x	as long as short
Hyperliquid PUMPlong	+0.0610%	1h	0.004502	long leg	$168.0M	$54.6M	10x
Aftermath Perps PUMPUSD	+0.0746%	1h	0.004472	−0.658%	$592	$111K	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.1235%	1h	0.004508	+0.126%	$1.3M	$3.1M	50x	as long as short