Funding arb · Price arb /

PUMP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.022%

Price spread now: Orderly against Hyperliquid−0.138%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.138% cheaper against Hyperliquid than usual: you would sell low and buy high (−$14 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	Hyperliquid PUMP	0.004336	0.0100	pay 0.0013% / 1h	33m 20s	$158.5M	$52.0M	10x
Short	Orderly PERP_PUMP_USDC	0.004330	−0.0017	pay 0.0009% / 4h	2h 33m	$41K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.138%Rate

Funding earned: −$24.63
Price spread: −0.138% → 0.000%: −$13.84
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$53.47
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 11 min ago; 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 Hyperliquid live order book, 11 min ago	1.16 bp	8.0 bp −$8	21.4 bp −$214	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	−0.2727%	1h	0.004336	0.000%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0380%	1h	0.004334	−0.048%	$776K	$181K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004332	−0.092%	$20K	$204K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0063%	4h	0.004329	−0.161%	$22.6M	$94.6M	50x	as long as short
Orderly PERP_PUMP_USDCshort	−0.0017%	4h	0.004330	−0.138%	$41K	$10K	10x
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004332	−0.092%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004333	−0.080%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004335	−0.023%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.830%	$29K	$770K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004334	−0.039%	$42K	—	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PUMP-PERP	+0.0100%	1h	0.004329	−0.150%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMPlong	+0.0100%	1h	0.004336	long leg	$158.5M	$52.0M	10x
Aster PUMPUSDT	+0.0100%	4h	0.004336	+0.004%	$787K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004336	0.000%	$449K	$614K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004330	−0.144%	$76.8M	$164.0M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004319	−0.401%	$25K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004334	−0.046%	$42K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004331	−0.115%	$4.6M	$11.7M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004335	−0.023%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004329	−0.161%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004332	−0.092%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004325	−0.253%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004332	−0.083%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004319	−0.392%	$136K	$767K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004335	−0.023%	$107K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004332	−0.093%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004332	−0.092%	$2K	$708K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004330	−0.138%	$714	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004328	−0.185%	$21K	$148K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004334	−0.046%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004329	−0.161%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004328	−0.185%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004332	−0.092%	$493K	$1.0M	10x	as long as short
01 Exchange PUMPUSD	+0.0128%	1h	0.004332	−0.092%	$6K	$497	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004337	+0.030%	$39K	$99K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004340	+0.092%	$660K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0305% / S −0.0222%	1h	0.004331	−0.115%	$67K	—	100x	as long as short
Aftermath Perps PUMPUSD	+0.0315%	1h	0.004320	−0.362%	$180	$106K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004328	−0.185%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004329	−0.154%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	−0.277%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0685%	1h	0.004335	−0.031%	$1.3M	$3.5M	50x	as long as short