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: Gate against Phoenix+0.114%77s7-day average −0.135% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as 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−$640.636% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)−2.446%−$245 · spread now +0.114%, 7d avg −0.135%

Together, before fees−2.623%−$262 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.249% dearer against Phoenix than usual: you sell high and buy low (spread +0.114% now, against its 7-day average of −0.135%): +$25 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−0.177% in total) that is about 9.8 days. The two prices were read 77 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 -0.177% in total (about -9.2% 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	Phoenix PUMP	0.004567	0.0410	pay 0.0051% / 1h	58m 09s	$44K	$138K	10x
Short	Gate PUMP_USDT	0.004572	0.0100	get 0.0050% / 4h	3h 58m	$4.9M	$9.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.114%Rate

Funding earned: −$65.11
Price spread: +0.114% → −0.135%: $24.87
Slippage, 4 orders: −$41.61
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$103.86
Costs to cover: 0.636%
Break-even: never at this rate

Slippage from Phoenix: live order book, 25 min ago; Gate: live order book, 5 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, 25 min ago	1.98 bp	16.1 bp −$16	58.0 bp −$580	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.19 bp	16.1 bp −$16	37.3 bp −$373	73.8 bp −$7,379	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	0.004569	+0.048%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004563	−0.083%	$18K	$272K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004579	+0.277%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004575	+0.180%	$3.0M	$4.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−1.463%	$30K	$659K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004571	+0.086%	$863K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004567	+0.004%	$524K	$879K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004573	+0.136%	$83.7M	$176.5M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004570	+0.070%	$25.1M	$104.6M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004575	+0.188%	$27K	$164K	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	0.004567	+0.004%	$50K	$140K	10x	as long as short
Gate PUMP_USDTshort	+0.0100%	4h	0.004572	+0.114%	$4.9M	$9.9M	75x
KuCoin PUMPUSDTM	+0.0100%	4h	0.004580	+0.289%	$24.8M	$13.8M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004572	+0.114%	$17.9M	$19.3M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004575	+0.180%	—	$14.3M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004574	+0.147%	$820K	$211K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004561	−0.122%	$67K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004572	+0.114%	$1.3M	$11.0M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004561	−0.127%	$162K	$747K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004562	−0.105%	$107K	$2.3M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004579	+0.267%	$43K	$2K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004565	−0.037%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004560	−0.149%	$2K	$786K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004578	+0.245%	$253	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004568	+0.026%	$23K	$100K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004577	+0.223%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0103%	8h	0.004567	0.000%	$43K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004578	+0.253%	$3.8M	$3.8M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004576	+0.201%	$68K	$10K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0274%	1h	0.004565	−0.039%	$65K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004567	+0.004%	$3.8M	$4.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004568	+0.023%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0344%	1h	0.004572	+0.114%	$38K	$204K	12x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0405%	1h	0.004581	+0.311%	$70K	$116K	25x	as long as short
Hyperliquid PUMP	+0.0407%	1h	0.004577	+0.223%	$171.2M	$51.1M	10x	as long as short
Phoenix PUMPlong	+0.0410%	1h	0.004567	long leg	$44K	$138K	10x
01 Exchange PUMPUSD	+0.0424%	1h	0.004566	−0.018%	$6K	$600	10x	as long as short
Nado PUMP-PERP	+0.0428%	1h	0.004574	+0.169%	$1.7M	$2.1M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0544%	1h	0.004586	+0.420%	$772K	$6.1M	50x	as long as short
RISEx PUMP/USDC	+0.0741%	1h	0.004565	−0.039%	$532K	$1.1M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0808%	1h	0.004582	+0.323%	$1.1M	$3.6M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1013%	1h	0.004569	+0.039%	$706	$111K	10x	as long as short