Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h −0.122%

Price spread now: Injective against Phemex+0.748%65s7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$276as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1531.528% of the position

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−1.228%−$123 on $10k

Price spread, last 4 days (all we have)−0.520%−$52 · spread now +0.748%, 7d avg −0.057%

Together, before fees−1.747%−$175 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.805% dearer against Phemex than usual: you sell high and buy low: +$81 more if the spread goes back to its 7-day average of −0.057%. Mind the row above: over the last 7 days funding on this pair cost −1.228%, so the current rate has only just turned in your favour. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex PUMPUSDT	0.004548	0.0100	pay 0.0050% / 4h	3h 37m	$2.0M	$3.9M	20x
Short	Injective PUMP/USDC PERP	0.004582	0.0344	get 0.0043% / 1h	37m 39s	$38K	$204K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Phemex. 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 PhemexbpFee InjectivebpOrdersPrice spread, now +0.748%Rate

Funding earned: $51.2
Price spread: +0.748% → −0.057%: $80.51
Slippage, 4 orders: −$140.81
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$21.12
Costs to cover: 1.528%
Break-even: 9.9 days

Slippage from Phemex: live order book, 6 min ago; Injective: live order book, 61 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 Phemex live order book, 6 min ago	6.59 bp	44.2 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 61 min ago	20.08 bp	30.7 bp −$31	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	0.0000%	1h	0.004549	+0.022%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004546	−0.044%	$18K	$267K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004549	+0.022%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0076%	4h	0.004551	+0.066%	$4.9M	$10.0M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004556	+0.176%	$3.0M	$4.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−1.055%	$30K	$664K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004550	+0.049%	$859K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004555	+0.154%	$522K	$886K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004556	+0.170%	$83.3M	$176.3M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004556	+0.176%	$25.0M	$103.8M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004541	−0.150%	$27K	$163K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004562	+0.308%	$50K	$140K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004555	+0.154%	$24.7M	$13.8M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004556	+0.176%	$17.8M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004555	+0.154%	—	$14.4M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004553	+0.101%	$816K	$214K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004544	−0.094%	$67K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004550	+0.040%	$1.3M	$10.9M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004550	+0.044%	$162K	$747K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004545	−0.066%	$107K	$2.3M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004549	+0.022%	$42K	$2K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004545	−0.055%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004542	−0.132%	$2K	$787K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004549	+0.022%	$260	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004539	−0.198%	$23K	$124K	20x	as long as short
Phemex PUMPUSDTlong	+0.0100%	4h	0.004548	long leg	$2.0M	$3.9M	20x
Paradex PUMP-USD-PERP	+0.0102%	8h	0.004554	+0.131%	$43K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004556	+0.182%	$3.8M	$3.9M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004548	0.000%	$67K	$10K	3x	as long as short
Hyperliquid PUMP	+0.0206%	1h	0.004557	+0.198%	$170.2M	$51.2M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0274%	1h	0.004548	0.000%	$65K	—	100x	as long as short
Phoenix PUMP	+0.0332%	1h	0.004553	+0.106%	$44K	$146K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004541	−0.154%	$3.8M	$4.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004551	+0.061%	$2	—	3x	as long as short
Injective PUMP/USDC PERPshort	+0.0344%	1h	0.004582	+0.748%	$38K	$204K	12x
01 Exchange PUMPUSD	+0.0344%	1h	0.004563	+0.330%	$6K	$600	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0409%	1h	0.004553	+0.110%	$70K	$116K	25x	as long as short
Nado PUMP-PERP	+0.0410%	1h	0.004550	+0.055%	$1.7M	$2.2M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0544%	1h	0.004554	+0.132%	$739K	$6.2M	50x	as long as short
RISEx PUMP/USDC	+0.0741%	1h	0.004562	+0.319%	$531K	$1.1M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0814%	1h	0.004551	+0.074%	$1.1M	$3.5M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0993%	1h	0.004550	+0.040%	$503	$110K	10x	as long as short