Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.006%

Price spread now: Backpack against Polymarket Perps+0.027%7-day average −0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Polymarket Perps Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now +0.027%, 7d avg −0.072%

Together, before fees+0.108%+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.098% dearer against Polymarket Perps than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps PUMP-USD	0.004483	0.0100	pay 0.0013% / 1h	7m 50s	$107K	$2.1M	10x
Short	Backpack PUMP_USDC_PERP	0.004484	0.0100	get 0.0013% / 1h	7m 50s	$800K	$202K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Polymarket Perps. 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 Polymarket PerpsbpFee BackpackbpOrdersPrice spread, now +0.027%Rate

Funding earned: $0
Price spread: +0.027% → −0.072%: $9.83
Slippage, 4 orders: −$17.4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$25.57
Costs to cover: 0.354%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 1 min ago; Backpack: live order book, 46 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 Polymarket Perps live order book, 1 min ago	3.35 bp	8.2 bp −$8	9.7 bp −$97	doesn't fit	doesn't fit
Sell Backpack live order book, 46 min ago	2.37 bp	9.5 bp −$10	14.6 bp −$146	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	−0.2250%	1h	0.004479	−0.084%	$20K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004482	−0.022%	$18K	$234K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004481	−0.046%	$56K	—	150x	as long as short
Gate PUMP_USDT	+0.0050%	4h	0.004478	−0.112%	$4.9M	$10.6M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004483	0.000%	$2.9M	$4.8M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−1.851%	$30K	$629K	20x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004481	−0.049%	$1.6M	$2.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004483	−0.005%	$716K	$2.2M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004481	−0.045%	$497K	$755K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004485	+0.045%	$81.7M	$166.2M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004483	0.000%	$24.5M	$95.7M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004467	−0.352%	$32K	$183K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004486	+0.067%	$65K	$101K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004484	+0.022%	$24.1M	$13.7M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004480	−0.067%	$17.7M	$19.3M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004482	−0.022%	—	$12.6M	—	as long as short
Backpack PUMP_USDC_PERPshort	+0.0100%	1h	0.004484	+0.027%	$800K	$202K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004482	−0.030%	$66K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004485	+0.042%	$1.3M	$10.2M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004483	0.000%	$150K	$746K	50x	as long as short
Polymarket Perps PUMP-USDlong	+0.0100%	1h	0.004483	long leg	$107K	$2.1M	10x
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004483	0.000%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004481	−0.041%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004481	−0.045%	$2K	$744K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004482	−0.022%	$281	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004466	−0.379%	$21K	$95K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004482	−0.022%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0102%	8h	0.004484	+0.023%	$43K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004481	−0.045%	$66K	$10K	3x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0196%	1h	0.004484	+0.022%	$71K	$116K	25x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0271% / S −0.0198%	1h	0.004481	−0.045%	$54K	—	100x	as long as short
Extended PUMP-USD	+0.0272%	1h	0.004481	−0.038%	$3.9M	$3.9M	50x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004465	−0.402%	$3.7M	$4.5M	75x	as long as short
Phoenix PUMP	+0.0342%	1h	0.004476	−0.167%	$46K	$119K	10x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004481	−0.051%	$2	—	3x	as long as short
01 Exchange PUMPUSD	+0.0344%	1h	0.004487	+0.089%	$6K	$600	10x	as long as short
Injective PUMP/USDC PERP	+0.0419%	1h	0.004472	−0.245%	$39K	$204K	12x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0472%	1h	0.004488	+0.112%	$724K	$5.7M	50x	as long as short
Hyperliquid PUMP	+0.0515%	1h	0.004490	+0.156%	$168.2M	$49.9M	10x	as long as short
RISEx PUMP/USDC	+0.0638%	1h	0.004486	+0.067%	$533K	$1.0M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0654%	1h	0.004484	+0.027%	$1.0M	$3.3M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1044%	1h	0.004477	−0.145%	$719	$107K	10x	as long as short