Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0561%/8h= −61.5% APRpaid last 24h −0.307%

Price spread now: BingX against Kraken Futures−0.016%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$530.525% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.272%−$27 on $10k

Price spread, last 4 days (all we have)−0.086%−$9 · spread now −0.016%, 7d avg −0.081%

Together, before fees−0.358%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.065% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.016% now, against its 7-day average of −0.081%): +$6 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.272% in total) that is about 40 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.272% in total (about -14.2% 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	Kraken Futures PF_PUMPUSD	0.004434	0.0661	pay 0.0083% / 1h	25m 58s	$1.0M	$3.3M	50x
Short	BingX PUMP-USDT	0.004433	0.0100	get 0.0050% / 4h	3h 25m	—	$12.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.016%Rate

Funding earned: −$117.87
Price spread: −0.016% → −0.081%: $6.46
Slippage, 4 orders: −$32.53
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$163.94
Costs to cover: 0.525%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; BingX: live order book, 12 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 Kraken Futures live order book, 3 min ago	5.62 bp	21.7 bp −$22	41.8 bp −$418	doesn't fit	doesn't fit
Sell BingX live order book, 12 min ago	1.13 bp	6.2 bp −$6	14.0 bp −$140	40.7 bp −$4,075	118.1 bp −$59.0K

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	−0.3430%	1h	0.004434	+0.011%	$20K	$11K	5x	as long as short
Gate PUMP_USDT	−0.0024%	4h	0.004430	−0.084%	$4.9M	$10.5M	75x	as long as short
Perpl PUMP	0.0000%	43m	0.004430	−0.084%	$18K	$240K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004432	−0.044%	$56K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004434	+0.006%	$2.9M	$4.8M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−0.760%	$30K	$674K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004434	+0.018%	$1.6M	$2.1M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004433	−0.019%	$708K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004433	−0.016%	$492K	$824K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004433	−0.022%	$80.7M	$170.0M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004432	−0.039%	$24.2M	$96.6M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004452	+0.403%	$31K	$188K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004435	+0.029%	$62K	$99K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004434	+0.006%	$23.8M	$13.8M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004432	−0.039%	$17.4M	$19.7M	75x	as long as short
BingX PUMP-USDTshort	+0.0100%	4h	0.004433	−0.016%	—	$12.8M	—
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004432	−0.034%	$790K	$207K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004451	+0.398%	$66K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004450	+0.365%	$1.2M	$10.4M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004459	+0.570%	$148K	$745K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004436	+0.052%	$106K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004431	−0.061%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004431	−0.062%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004431	−0.061%	$2K	$759K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004432	−0.039%	$278	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004426	−0.174%	$21K	$102K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004434	+0.006%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004433	−0.012%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004429	−0.106%	$66K	$13K	3x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0201%	1h	0.004434	+0.006%	$70K	$122K	25x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0270% / S −0.0198%	1h	0.004431	−0.061%	$53K	—	100x	as long as short
Extended PUMP-USD	+0.0296%	1h	0.004432	−0.033%	$3.9M	$4.3M	50x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004435	+0.029%	$3.6M	$4.4M	75x	as long as short
Phoenix PUMP	+0.0342%	1h	0.004456	+0.500%	$42K	$119K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004431	−0.068%	$2	—	3x	as long as short
01 Exchange PUMPUSD	+0.0352%	1h	0.004435	+0.029%	$6K	$600	10x	as long as short
Injective PUMP/USDC PERP	+0.0419%	1h	0.004456	+0.503%	$38K	$204K	12x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0472%	1h	0.004437	+0.074%	$708K	$5.8M	50x	as long as short
Hyperliquid PUMP	+0.0528%	1h	0.004440	+0.142%	$166.3M	$53.8M	10x	as long as short
RISEx PUMP/USDC	+0.0638%	1h	0.004434	+0.006%	$527K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSDlong	+0.0661%	1h	0.004434	long leg	$1.0M	$3.3M	50x
Aftermath Perps PUMPUSD	+0.1023%	1h	0.004441	+0.159%	$316	$110K	10x	as long as short