PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0326%/8h= +35.7% APRnext payment +$0.41 per $10,000 · paid last 24h +0.010%

Price spread now: Deribit against Backpack+0.020%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on Backpack Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now +0.020%, 7d avg +0.051%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.031% cheaper against Backpack than usual: you would sell low and buy high (spread +0.020% now, against its 7-day average of +0.051%). If the spread goes back, that is −$3 on $10k: about 8 hours of funding at the current rate (+$10 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.025% in total (about -1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.41 per $10,000. 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	0.004442	0.0100	pay 0.0013% / 1h	1m 53s	$792K	$207K	5x
Short	Deribit PUMP_USDC-PERPETUAL	0.004443	0.0426	get 0.0053% / 1h	1m 53s	$71K	$122K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.020%Rate

Funding earned: $68.46
Price spread: +0.020% → +0.051%: −$3.12
Slippage, 4 orders: −$33.77
Fee Backpack: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $14.56
Costs to cover: 0.508%
Break-even: 5.5 days

Slippage from Backpack: live order book, 57 min ago; Deribit: live order book, 52 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, 57 min ago	2.50 bp	13.3 bp −$13	23.4 bp −$234	doesn't fit	doesn't fit
Sell Deribit live order book, 52 min ago	8.00 bp	16.0 bp −$16	doesn't fit	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	−0.4926%	1h	0.004444	+0.046%	$20K	$9K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004440	−0.047%	$18K	$238K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004441	−0.036%	$53K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004444	+0.043%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004400	−0.948%	$29K	$780K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004442	−0.009%	$704K	$2.3M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004446	+0.088%	$499K	$823K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004445	+0.074%	$80.9M	$172.7M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004446	+0.088%	$24.2M	$98.0M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004432	−0.227%	$31K	$192K	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	0.004448	+0.133%	$62K	$99K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004442	−0.002%	$4.9M	$11.5M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004444	+0.043%	$23.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004446	+0.088%	$17.6M	$20.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004443	+0.020%	—	$12.9M	—	as long as short
Backpack PUMP_USDC_PERPlong	+0.0100%	1h	0.004442	long leg	$792K	$207K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004424	−0.401%	$65K	$3.2M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004429	−0.296%	$1.2M	$10.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004426	−0.362%	$147K	$756K	50x	as long as short
Nado PUMP-PERP	+0.0100%	1h	0.004446	+0.099%	$1.6M	$2.1M	10x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004449	+0.155%	$103K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004441	−0.025%	$42K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004440	−0.037%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004445	+0.065%	$1K	$768K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004443	+0.020%	$279	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004437	−0.115%	$21K	$105K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004442	−0.002%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004447	+0.120%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004439	−0.070%	$66K	$13K	3x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0270% / S −0.0198%	1h	0.004439	−0.070%	$53K	—	100x	as long as short
01 Exchange PUMPUSD	+0.0280%	1h	0.004450	+0.178%	$6K	$625	10x	as long as short
Extended PUMP-USD	+0.0296%	1h	0.004442	+0.004%	$3.9M	$4.3M	50x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004450	+0.178%	$3.7M	$4.5M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004447	+0.105%	$2	—	3x	as long as short
Phoenix PUMP	+0.0345%	1h	0.004430	−0.268%	$42K	$120K	10x	as long as short
Deribit PUMP_USDC-PERPETUALshort	+0.0426%	1h	0.004443	+0.020%	$71K	$122K	25x
Coinbase International PUMP-PERP-INTX	+0.0440%	1h	0.004447	+0.110%	$707K	$5.9M	50x	as long as short
Hyperliquid PUMP	+0.0485%	1h	0.004453	+0.245%	$166.9M	$55.0M	10x	as long as short
RISEx PUMP/USDC	+0.0570%	1h	0.004449	+0.159%	$528K	$1.0M	10x	as long as short
Injective PUMP/USDC PERP	+0.0706%	1h	0.004448	+0.133%	$38K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0797%	1h	0.004446	+0.081%	$1.0M	$3.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.1019%	1h	0.004438	−0.097%	$786	$112K	10x	as long as short