Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0135%/8h= −14.8% APRpaid last 24h −0.048%

Price spread now: OKX against Phoenix−0.107%56s7-day average −0.139% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as 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−$510.514% of the position

Long on Phoenix Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.133%−$13 on $10k

Price spread, last 4 days (all we have)−2.202%−$220 · spread now −0.107%, 7d avg −0.139%

Together, before fees−2.335%−$233 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.033% dearer against Phoenix than usual: you sell high and buy low (spread −0.107% now, against its 7-day average of −0.139%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.133% in total) that is about 41 hours. The two prices were read 56 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	Phoenix PUMP	0.004408	0.0235	pay 0.0029% / 1h	48m 26s	$39K	$103K	10x
Short	OKX PUMP-USDT-SWAP	0.004403	0.0100	get 0.0050% / 4h	2h 48m	$23.5M	$96.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.107%Rate

Funding earned: −$28.3
Price spread: −0.107% → −0.139%: $3.27
Slippage, 4 orders: −$34.44
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$76.48
Costs to cover: 0.514%
Break-even: never at this rate

Slippage from Phoenix: live order book, 4 min ago; OKX: 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, 4 min ago	2.04 bp	16.1 bp −$16	58.0 bp −$580	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.27 bp	9.4 bp −$9	31.3 bp −$313	130.0 bp −$13.0K	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	−0.0006%	1h	0.004411	+0.083%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004404	−0.084%	$20K	$198K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004407	−0.016%	$70K	$124K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004407	−0.027%	$53K	—	150x	as long as short
Orderly PERP_PUMP_USDC	+0.0060%	4h	0.004406	−0.039%	$41K	$10K	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004411	+0.075%	$2.8M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−0.175%	$27K	$769K	20x	as long as short
Gate PUMP_USDT	+0.0098%	4h	0.004409	+0.029%	$4.8M	$10.4M	75x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004411	+0.070%	$700K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004409	+0.029%	$495K	$650K	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	0.004405	−0.051%	$79.1M	$164.4M	75x	as long as short
OKX PUMP-USDT-SWAPshort	+0.0100%	4h	0.004403	−0.107%	$23.5M	$96.3M	50x
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004405	−0.073%	$26K	$161K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004402	−0.129%	$39K	$60K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004413	+0.120%	$23.3M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004404	−0.084%	$17.6M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004403	−0.107%	—	$12.8M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004409	+0.034%	$785K	$181K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004401	−0.158%	$64K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004408	+0.008%	$1.2M	$10.4M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004407	−0.016%	$139K	$759K	50x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004406	−0.027%	$1.6M	$2.0M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004409	+0.029%	$103K	$2.0M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004407	−0.027%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004411	+0.075%	$2K	$732K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004407	−0.016%	$277	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004408	+0.007%	$21K	$118K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004408	+0.007%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004406	−0.041%	$42K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004401	−0.142%	$3.7M	$4.1M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004402	−0.129%	$70K	$9K	3x	as long as short
01 Exchange PUMPUSD	+0.0224%	1h	0.004407	−0.016%	$6K	$727	10x	as long as short
Phoenix PUMPlong	+0.0235%	1h	0.004408	long leg	$39K	$103K	10x
RISEx PUMP/USDC	+0.0322%	1h	0.004406	−0.042%	$481K	$995K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004407	−0.016%	$3.6M	$4.2M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004401	−0.156%	$2	—	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0358% / S −0.0299%	1h	0.004405	−0.061%	$73K	—	100x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0408%	1h	0.004417	+0.211%	$703K	$5.5M	50x	as long as short
Hyperliquid PUMP	+0.0446%	1h	0.004411	+0.075%	$162.5M	$54.0M	10x	as long as short
Injective PUMP/USDC PERP	+0.0571%	1h	0.004408	+0.007%	$39K	$203K	12x	as long as short
Aftermath Perps PUMPUSD	+0.0679%	1h	0.004411	+0.075%	$400	$110K	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.1261%	1h	0.004412	+0.107%	$1.3M	$3.1M	50x	as long as short