Funding arb · Price arb /

PUMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.014%

Price spread now: Derive against Hyperliquid−0.091%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Derive

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—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.091% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid PUMP	0.004303	0.0100	pay 0.0013% / 1h	43m 40s	$157.3M	$52.4M	10x
Short	Derive PUMP-PERP	0.004299	0.0100	get 0.0013% / 1h	43m 40s	$4K	$13K	6.7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.091%Rate

Funding earned: $0
Price spread: −0.091% → 0.000%: −$9.07
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Derive: 3 bp × 2 orders: −$6
Net: −$24.07
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 10 min ago; Derive: 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 Hyperliquid live order book, 10 min ago	1.16 bp	9.0 bp −$9	23.0 bp −$230	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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	−0.2570%	1h	0.004303	−0.004%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0558%	1h	0.004299	−0.091%	$769K	$184K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0072%	4h	0.004294	−0.209%	$22.5M	$94.1M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0015%	4h	0.004298	−0.116%	$40K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004293	−0.232%	$19K	$203K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004300	−0.070%	$68K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004299	−0.101%	$54K	—	150x	as long as short
Gate PUMP_USDT	+0.0090%	4h	0.004299	−0.093%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004299	−0.093%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004200	−2.394%	$28K	$774K	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	0.004298	−0.116%	$41K	—	5x	as long as short
Hyperliquid PUMPlong	+0.0100%	1h	0.004303	long leg	$157.3M	$52.4M	10x
Aster PUMPUSDT	+0.0100%	4h	0.004298	−0.107%	$781K	$2.1M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004300	−0.070%	$447K	$611K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004299	−0.084%	$76.3M	$164.6M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004293	−0.223%	$25K	$182K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004299	−0.093%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004301	−0.046%	$22.7M	$14.0M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004299	−0.093%	$16.9M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004299	−0.093%	—	$12.8M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004296	−0.165%	$63K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004297	−0.144%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004297	−0.139%	$136K	$767K	50x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004293	−0.221%	$1.6M	$2.0M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004299	−0.093%	$107K	$1.8M	10x	as long as short
Derive PUMP-PERPshort	+0.0100%	1h	0.004299	−0.091%	$4K	$13K	6.7x
SunX PUMP-USDT	+0.0100%	4h	0.004298	−0.116%	$1K	$708K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004297	−0.139%	$709	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004292	−0.256%	$21K	$146K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004301	−0.046%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004299	−0.094%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004298	−0.116%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004295	−0.181%	$489K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004300	−0.058%	$38K	$99K	10x	as long as short
01 Exchange PUMPUSD	+0.0136%	1h	0.004295	−0.186%	$6K	$497	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004300	−0.070%	$652K	$5.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0303%	1h	0.004303	−0.011%	$179	$107K	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0221%	1h	0.004298	−0.116%	$66K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004293	−0.232%	$3.4M	$3.6M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004297	−0.132%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	+0.488%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0690%	1h	0.004305	+0.037%	$1.3M	$3.5M	50x	as long as short