Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0421%/8h= −46.1% APRpaid last 24h +0.419%

Price spread now: Phemex against Injective−0.069%7-day average +0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$143as in the Price arb table

costs, in and out, $10k−$1281.275% of the position

Long on Injective Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+1.311%+$131 on $10k

Price spread, last 3 days (all we have)−0.056%−$6 · spread now −0.069%, 7d avg +0.085%

Together, before fees+1.255%+$126 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Phemex is 0.154% cheaper against Injective than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.085%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.311%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective PUMP/USDC PERP	0.004324	0.0521	pay 0.0065% / 1h	8m 45s	$38K	$207K	12x
Short	Phemex PUMPUSDT	0.004321	0.0100	get 0.0050% / 4h	2h 08m	$2.0M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Injective. 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 InjectivebpFee PhemexbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$88.33
Price spread: −0.069% → +0.085%: −$15.41
Slippage, 4 orders: −$115.5
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$231.27
Costs to cover: 1.275%
Break-even: never at this rate

Slippage from Injective: live order book, 15 min ago; Phemex: live order book, 5 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 Injective live order book, 15 min ago	17.33 bp	51.7 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	2.31 bp	22.5 bp −$22	doesn't fit	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	−0.5181%	1h	0.004326	+0.041%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0231%	1h	0.004322	−0.046%	$770K	$183K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004321	−0.069%	$20K	$206K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0062%	4h	0.004321	−0.069%	$22.6M	$95.6M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0026%	4h	0.004323	−0.023%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004324	0.000%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004324	−0.010%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0056%	4h	0.004321	−0.069%	$4.6M	$11.7M	75x	as long as short
01 Exchange PUMPUSD	+0.0080%	1h	0.004325	+0.023%	$6K	$497	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004322	−0.046%	$2.9M	$5.5M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.555%	$29K	$767K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004324	−0.003%	$42K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004322	−0.035%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004327	+0.069%	$158.5M	$52.4M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004321	−0.068%	$779K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004324	0.000%	$448K	$607K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004322	−0.046%	$76.7M	$163.9M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004319	−0.113%	$25K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004324	0.000%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004325	+0.023%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004321	−0.069%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004323	−0.023%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004320	−0.091%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004322	−0.035%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004324	0.000%	$136K	$771K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004327	+0.069%	$91K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004323	−0.012%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004324	0.000%	$2K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004322	−0.046%	$713	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004320	−0.093%	$21K	$147K	20x	as long as short
Phemex PUMPUSDTshort	+0.0100%	4h	0.004321	−0.069%	$2.0M	$4.0M	20x
Extended PUMP-USD	+0.0104%	1h	0.004321	−0.068%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004322	−0.046%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004325	+0.020%	$491K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004325	+0.032%	$39K	$99K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004334	+0.231%	$658K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0307% / S −0.0225%	1h	0.004323	−0.023%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004324	0.000%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004322	−0.036%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0344%	1h	0.004327	+0.077%	$180	$106K	10x	as long as short
Injective PUMP/USDC PERPlong	+0.0521%	1h	0.004324	long leg	$38K	$207K	12x
Kraken Futures PF_PUMPUSD	+0.0686%	1h	0.004328	+0.083%	$1.3M	$3.5M	50x	as long as short