Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0137%/8h= +15.0% APRpaid last 24h +0.032%

Price spread now: Phoenix against Phemex−1.043%73s7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 1.043% cheaper against Phemex than usual: you would sell low and buy high (spread −1.043% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$104 on $10k: about 25 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.081% in total) that is about 3 months. The two prices were read 73 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	0.004468	0.0100	pay 0.0050% / 4h	3h 35m	$2.0M	$4.0M	20x
Short	Phoenix PUMP	0.004421	0.0237	get 0.0030% / 1h	35m 48s	$40K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −1.043%Rate

Funding earned: $28.86
Price spread: −1.043% → 0.000%: −$104.3
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$94.43
Costs to cover: 0.190%
Break-even: 29.9 days

Slippage unknown: Phemex: live order book, 3 min ago; Phoenix: 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 Phemex live order book, 3 min ago	9.06 bp	42.1 bp −$42	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	−0.0013%	1h	0.004463	−0.109%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004455	−0.291%	$18K	$211K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004464	−0.086%	$56K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0045%	4h	0.004467	−0.022%	$42K	$10K	10x	as long as short
OKX PUMP-USDT-SWAP	+0.0057%	4h	0.004443	−0.560%	$23.4M	$99.2M	50x	as long as short
Lighter PUMP	+0.0096%	1h	0.004458	−0.224%	$3.0M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.522%	$32K	$778K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004458	−0.214%	$43K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004455	−0.302%	$1.7M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004457	−0.237%	$729K	$2.3M	50x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica PUMP	+0.0100%	1h	0.004460	−0.179%	$466K	$602K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004458	−0.213%	$80.0M	$165.4M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004454	−0.311%	$26K	$168K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004438	−0.671%	$43K	$53K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004458	−0.224%	$4.8M	$10.5M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004462	−0.134%	$23.7M	$13.8M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004444	−0.537%	$17.8M	$19.3M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004444	−0.537%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004471	+0.060%	$796K	$176K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004399	−1.537%	$65K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004401	−1.511%	$1.2M	$10.2M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004403	−1.455%	$139K	$760K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004460	−0.179%	$101K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004466	−0.034%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004467	−0.022%	$2K	$723K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004468	0.000%	$280	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004454	−0.313%	$22K	$135K	20x	as long as short
Phemex PUMPUSDTlong	+0.0100%	4h	0.004468	long leg	$2.0M	$4.0M	20x
Extended PUMP-USD	+0.0104%	1h	0.004462	−0.144%	$3.7M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004469	+0.022%	$71K	$12K	3x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0198%	1h	0.004468	0.000%	$71K	$125K	25x	as long as short
01 Exchange PUMPUSD	+0.0208%	1h	0.004454	−0.313%	$6K	$830	10x	as long as short
Phoenix PUMPshort	+0.0237%	1h	0.004421	−1.043%	$40K	$99K	10x
RISEx PUMP/USDC	+0.0297%	1h	0.004448	−0.442%	$484K	$1.0M	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004429	−0.873%	$3.5M	$4.1M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004456	−0.273%	$2	—	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0350% / S −0.0291%	1h	0.004463	−0.112%	$75K	—	100x	as long as short
Hyperliquid PUMP	+0.0351%	1h	0.004466	−0.045%	$164.2M	$53.8M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0352%	1h	0.004470	+0.045%	$695K	$5.7M	50x	as long as short
Injective PUMP/USDC PERP	+0.0480%	1h	0.004424	−0.985%	$39K	$203K	12x	as long as short
Aftermath Perps PUMPUSD	+0.0615%	1h	0.004405	−1.415%	$385	$106K	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0920%	1h	0.004472	+0.099%	$1.3M	$3.5M	50x	as long as short