PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0029%/8h= +3.2% APRnext payment +$0.04 per $10,000 · paid last 24h +0.067%

Price spread now: Phoenix against Backpack+0.042%80s7-day average +0.156% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as 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−$540.542% of the position

Long on Backpack Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.325%+$32 on $10k

Price spread, last 3 days (all we have)+1.241%+$124 · spread now +0.042%, 7d avg +0.156%

Together, before fees+1.565%+$157 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.114% cheaper against Backpack than usual: you would sell low and buy high (spread +0.042% now, against its 7-day average of +0.156%). If the spread goes back, that is −$11 on $10k: about 13 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.325% in total) that is about 2.5 days. The two prices were read 80 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	Backpack PUMP_USDC_PERP	0.004321	0.0100	pay 0.0013% / 1h	53m 37s	$770K	$181K	5x
Short	Phoenix PUMP	0.004323	0.0129	get 0.0016% / 1h	53m 37s	$40K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.042%Rate

Funding earned: $6.18
Price spread: +0.042% → +0.156%: −$11.4
Slippage, 4 orders: −$37.15
Fee Backpack: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$59.38
Costs to cover: 0.542%
Break-even: 74.3 days

Slippage from Backpack: live order book, 30 min ago; Phoenix: live order book, 87 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, 30 min ago	0.81 bp	12.2 bp −$12	21.2 bp −$212	doesn't fit	doesn't fit
Sell Phoenix live order book, 87 min ago	2.09 bp	16.2 bp −$16	50.4 bp −$504	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	−0.6043%	1h	0.004329	+0.181%	$20K	$8K	5x	as long as short
OKX PUMP-USDT-SWAP	−0.0057%	4h	0.004321	−0.005%	$22.5M	$95.5M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0021%	4h	0.004322	+0.019%	$41K	$10K	10x	as long as short
Perpl PUMP	0.0000%	43m	0.004323	+0.042%	$20K	$205K	20x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004324	+0.065%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004324	+0.060%	$55K	—	150x	as long as short
Gate PUMP_USDT	+0.0086%	4h	0.004323	+0.042%	$4.6M	$11.6M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004321	−0.005%	$2.9M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.491%	$29K	$767K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004321	+0.005%	$42K	—	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PUMP-PERP	+0.0100%	1h	0.004323	+0.053%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004326	+0.111%	$158.4M	$52.6M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004323	+0.042%	$779K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004322	+0.019%	$448K	$607K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004320	−0.027%	$76.7M	$163.6M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004328	+0.157%	$25K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004321	−0.005%	$42K	$53K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004325	+0.088%	$22.9M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004319	−0.051%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004320	−0.028%	—	$12.7M	—	as long as short
Backpack PUMP_USDC_PERPlong	+0.0100%	1h	0.004321	long leg	$770K	$181K	5x
edgeX PUMPUSDC	+0.0100%	4h	0.004320	−0.021%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004324	+0.071%	$1.2M	$9.6M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004319	−0.051%	$136K	$769K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004329	+0.181%	$92K	$1.9M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004323	+0.044%	$4K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004333	+0.273%	$2K	$710K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004322	+0.019%	$713	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004324	+0.065%	$21K	$147K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004324	+0.065%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004319	−0.055%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004320	−0.028%	$71K	$18K	3x	as long as short
Phoenix PUMPshort	+0.0129%	1h	0.004323	+0.042%	$40K	$99K	10x
01 Exchange PUMPUSD	+0.0144%	1h	0.004333	+0.273%	$6K	$497	10x	as long as short
RISEx PUMP/USDC	+0.0147%	1h	0.004322	+0.019%	$488K	$1.0M	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0280%	1h	0.004332	+0.250%	$657K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0309% / S −0.0227%	1h	0.004322	+0.019%	$67K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004331	+0.227%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004323	+0.046%	$2	—	3x	as long as short
Aftermath Perps PUMPUSD	+0.0350%	1h	0.004323	+0.042%	$180	$106K	10x	as long as short
Injective PUMP/USDC PERP	+0.0652%	1h	0.004326	+0.111%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0808%	1h	0.004328	+0.166%	$1.3M	$3.5M	50x	as long as short