Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0310%/8h= −34.0% APRpaid last 24h −0.035%

Price spread now: BingX against Phoenix−0.224%109s7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as 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−$460.457% of the position

Long on Phoenix Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)−2.061%−$206 · spread now −0.224%, 7d avg −0.139%

Together, before fees−2.159%−$216 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and BingX is 0.084% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.139%). Swap the legs. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.098% in total (about -5.1% 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	Phoenix PUMP	0.004563	0.0410	pay 0.0051% / 1h	53m 41s	$44K	$146K	10x
Short	BingX PUMP-USDT	0.004553	0.0100	get 0.0050% / 4h	3h 53m	—	$14.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Phoenix. 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 PhoenixbpFee BingXbpOrdersPrice spread, now −0.224%Rate

Funding earned: −$65.11
Price spread: −0.224% → −0.139%: −$8.42
Slippage, 4 orders: −$28.72
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BingX: 5 bp × 2 orders: −$10
Net: −$119.25
Costs to cover: 0.457%
Break-even: never at this rate

Slippage from Phoenix: live order book, 29 min ago; BingX: live order book, 15 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 Phoenix live order book, 29 min ago	1.98 bp	16.1 bp −$16	58.0 bp −$580	doesn't fit	doesn't fit
Sell BingX live order book, 15 min ago	1.09 bp	7.5 bp −$7	15.1 bp −$151	45.8 bp −$4,578	186.2 bp −$93.1K

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	0.004550	−0.289%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004553	−0.224%	$18K	$270K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004549	−0.316%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004557	−0.136%	$3.0M	$4.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−1.385%	$29K	$661K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004551	−0.259%	$859K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004554	−0.202%	$522K	$879K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004554	−0.199%	$83.4M	$176.5M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004553	−0.224%	$25.0M	$104.1M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004553	−0.219%	$27K	$163K	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus PUMP-USD	+0.0100%	1h	0.004558	−0.114%	$50K	$140K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004547	−0.355%	$4.9M	$9.9M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004555	−0.180%	$24.6M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004553	−0.224%	$17.8M	$19.3M	75x	as long as short
BingX PUMP-USDTshort	+0.0100%	4h	0.004553	−0.224%	—	$14.4M	—
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004551	−0.272%	$818K	$212K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004571	+0.169%	$67K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004568	+0.097%	$1.3M	$10.9M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004568	+0.105%	$163K	$747K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004555	−0.180%	$107K	$2.3M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004552	−0.245%	$43K	$2K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004561	−0.043%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004552	−0.245%	$1K	$787K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004550	−0.289%	$259	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004547	−0.355%	$25K	$121K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004553	−0.224%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0103%	8h	0.004555	−0.176%	$43K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004553	−0.218%	$3.8M	$3.9M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004549	−0.311%	$67K	$10K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0274%	1h	0.004552	−0.245%	$65K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004549	−0.311%	$3.4M	$4.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004556	−0.163%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0344%	1h	0.004582	+0.412%	$38K	$204K	12x	as long as short
01 Exchange PUMPUSD	+0.0392%	1h	0.004559	−0.092%	$6K	$600	10x	as long as short
Phoenix PUMPlong	+0.0410%	1h	0.004563	long leg	$44K	$146K	10x
Hyperliquid PUMP	+0.0413%	1h	0.004556	−0.158%	$170.4M	$51.1M	10x	as long as short
Nado PUMP-PERP	+0.0477%	1h	0.004553	−0.213%	$1.7M	$2.2M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0544%	1h	0.004565	+0.039%	$741K	$6.2M	50x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0629%	1h	0.004554	−0.202%	$70K	$116K	25x	as long as short
RISEx PUMP/USDC	+0.0741%	1h	0.004558	−0.114%	$532K	$1.1M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0814%	1h	0.004553	−0.227%	$1.1M	$3.6M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1019%	1h	0.004562	−0.023%	$642	$112K	10x	as long as short