Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0608%/8h= +66.6% APRpaid last 24h +0.028%

Price spread now: Binance against Backpack+0.140%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$410.413% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.201%+$20 on $10k

Price spread, last 4 days (all we have)−0.374%−$37 · spread now +0.140%, 7d avg +0.029%

Together, before fees−0.174%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Binance is 0.111% dearer against Backpack than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.029%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.201% in total (about 10.5% 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	Backpack PUMP_USDC_PERP	0.004310	−0.0508	get 0.0063% / 1h	37m 43s	$771K	$181K	5x
Short	Binance PUMPUSDT	0.004316	0.0100	get 0.0050% / 4h	2h 37m	$76.6M	$164.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now +0.140%Rate

Funding earned: $127.65
Price spread: +0.140% → +0.029%: $11.12
Slippage, 4 orders: −$21.27
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $97.5
Costs to cover: 0.413%
Break-even: 1.7 days

Slippage from Backpack: live order book, 51 min ago; Binance: live order book, 6 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 Backpack live order book, 51 min ago	0.81 bp	12.1 bp −$12	19.4 bp −$194	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	1.16 bp	8.9 bp −$9	16.6 bp −$166	55.2 bp −$5,516	241.2 bp −$120.6K

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	−0.2230%	1h	0.004315	+0.114%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERPlong	−0.0508%	1h	0.004310	long leg	$771K	$181K	5x
Perpl PUMP	−0.0112%	43m	0.004307	−0.067%	$20K	$203K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0067%	4h	0.004315	+0.118%	$22.6M	$94.4M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0015%	4h	0.004315	+0.118%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004314	+0.095%	$68K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004314	+0.098%	$54K	—	150x	as long as short
Gate PUMP_USDT	+0.0086%	4h	0.004314	+0.095%	$4.6M	$11.7M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004315	+0.118%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.230%	$29K	$774K	20x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004317	+0.169%	$41K	—	5x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004307	−0.056%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004318	+0.188%	$157.8M	$52.0M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004312	+0.049%	$783K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004316	+0.142%	$447K	$614K	10x	as long as short
Binance PUMPUSDTshort	+0.0100%	4h	0.004316	+0.140%	$76.6M	$164.1M	75x
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004307	−0.063%	$25K	$183K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004317	+0.165%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004317	+0.165%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004316	+0.142%	$17.0M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004315	+0.118%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004298	−0.272%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004304	−0.126%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004303	−0.160%	$136K	$766K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004312	+0.049%	$107K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004315	+0.125%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004313	+0.072%	$2K	$708K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004311	+0.026%	$711	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004304	−0.137%	$21K	$148K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004312	+0.049%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004316	+0.143%	$3.5M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004311	+0.026%	$71K	$18K	3x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004319	+0.211%	$491K	$1.0M	10x	as long as short
Phoenix PUMP	+0.0129%	1h	0.004311	+0.023%	$39K	$99K	10x	as long as short
01 Exchange PUMPUSD	+0.0136%	1h	0.004310	+0.002%	$6K	$497	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004312	+0.049%	$655K	$5.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0301%	1h	0.004306	−0.097%	$179	$106K	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0305% / S −0.0221%	1h	0.004314	+0.095%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004307	−0.067%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004308	−0.035%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	+0.327%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0688%	1h	0.004315	+0.114%	$1.3M	$3.5M	50x	as long as short