Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0342%/8h= +37.4% APRpaid last 24h +0.082%

Price spread now: Phoenix against Perpl−0.067%7-day average +0.098% · you buy dearer than you sell

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

Long on Perpl Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.301%+$30 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.067%, 7d avg +0.098%

Together, before fees+0.320%+ Points / potential airdropPerpl: Active · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.164% cheaper against Perpl than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of +0.098%). If the spread goes back, that is −$16 on $10k: about 38 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.301% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Perpl PUMP	0.004493	0	get 0.0000% / 43m	42m 37s	$18K	$236K	20x
Short	Phoenix PUMP	0.004490	0.0342	get 0.0043% / 1h	2m 37s	$46K	$119K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Perpl. 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 PerplbpFee PhoenixbpOrdersPrice spread, now −0.067%Rate

Funding earned: $71.81
Price spread: −0.067% → +0.098%: −$16.45
Slippage, 4 orders: no order book: not counted
Fee Perpl: 6.9 bp × 2 orders: −$13.8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $34.56
Costs to cover: 0.208%
Break-even: 3.6 days

Slippage unknown: Perpl: no order-book sample; Phoenix: live order book, 35 min ago. 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 Perpl no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 35 min ago	2.03 bp	16.1 bp −$16	50.3 bp −$503	doesn't fit	doesn't fit

Perpl: 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	−0.2013%	1h	0.004488	−0.109%	$21K	$11K	5x	as long as short
Perpl PUMPlong	0.0000%	43m	0.004493	long leg	$18K	$236K	20x
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004492	−0.022%	$71K	$116K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0003%	1h	0.004492	−0.012%	$58K	—	150x	as long as short
Gate PUMP_USDT	+0.0048%	4h	0.004488	−0.111%	$5.0M	$10.6M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004493	0.000%	$2.9M	$4.8M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−2.070%	$31K	$623K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004500	+0.167%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004490	−0.059%	$713K	$2.2M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004491	−0.045%	$498K	$755K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PUMPUSDT	+0.0100%	4h	0.004490	−0.068%	$81.8M	$164.7M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004488	−0.111%	$24.5M	$95.1M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004494	+0.024%	$32K	$184K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004491	−0.045%	$65K	$101K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004494	+0.022%	$24.1M	$13.6M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004489	−0.089%	$17.7M	$18.6M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004490	−0.067%	—	$12.7M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004490	−0.073%	$801K	$200K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004488	−0.105%	$66K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004487	−0.140%	$1.3M	$10.2M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004484	−0.200%	$150K	$746K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004498	+0.111%	$108K	$2.0M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004491	−0.045%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004491	−0.046%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004491	−0.045%	$2K	$739K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004492	−0.022%	$282	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004489	−0.089%	$21K	$93K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004494	+0.022%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0102%	8h	0.004492	−0.016%	$43K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004492	−0.022%	$67K	$10K	3x	as long as short
Extended PUMP-USD	+0.0264%	1h	0.004486	−0.148%	$3.9M	$3.8M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0271% / S −0.0198%	1h	0.004491	−0.045%	$54K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0336%	1h	0.004492	−0.022%	$6K	$600	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004495	+0.045%	$3.7M	$4.5M	75x	as long as short
Phoenix PUMPshort	+0.0342%	1h	0.004490	−0.067%	$46K	$119K	10x
Reya PUMPRUSDPERP	+0.0344%	1h	0.004495	+0.039%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0419%	1h	0.004507	+0.312%	$39K	$204K	12x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0472%	1h	0.004499	+0.134%	$713K	$5.6M	50x	as long as short
Hyperliquid PUMP	+0.0522%	1h	0.004495	+0.045%	$168.6M	$50.0M	10x	as long as short
RISEx PUMP/USDC	+0.0638%	1h	0.004491	−0.033%	$534K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0652%	1h	0.004495	+0.034%	$1.0M	$3.3M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1131%	1h	0.004489	−0.098%	$520	$106K	10x	as long as short