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Funding arb · Price arb /

PUMP

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 03:00 UTC+0.0245%/8h= +26.8% APRpaid last 24h +0.032%
Price spread now: Phoenix against Bitget+0.436%7-day average +0.115% · you sell dearer than you buy
Net, funding: paid 7d − costs−$50as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$590.586% of the position
Long on BitgetShort on Phoenix
What this pair did over the last
the charts below follow
Funding, last 7 days+0.083%+$8 on $10k
Price spread, last 4 days (all we have)+0.416%+$42 · spread now +0.436%, 7d avg +0.115%
Together, before fees+0.498%+$50 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.321% dearer against Bitget than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of +0.115%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.083% in total (about 4.3% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBitget PUMPUSDT0.0043580.0100pay 0.0050% / 4h51m 11s$17.4M$20.2M75x
ShortPhoenix PUMP0.0043770.0345get 0.0043% / 1h51m 11s$42K$120K10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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

Funding earned
$51.45
Price spread: +0.436% → +0.115%
$32.11
Slippage, 4 orders
−$39.56
Fee Bitget: 6 bp × 2 orders
−$12
Fee Phoenix: 3.5 bp × 2 orders
−$7
Net
$25
Costs to cover
0.586%
Break-even
3.6 days
Slippage from Bitget: live order book, 3 min ago; Phoenix: live order book, 57 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bitget live order book, 3 min ago2.29 bp12.9 bp −$1332.6 bp −$326doesn't fitdoesn't fit
Sell Phoenix live order book, 57 min ago2.00 bp16.2 bp −$1650.3 bp −$503doesn't fitdoesn't fit

PUMP on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Backpack PUMP_USDC_PERP−0.0406%1h0.004356−0.046%$772K$200K5xas long as short
dYdX PUMP-USD0.0000%1h0.004367+0.211%$20K$9K5xas long as short
Perpl PUMP0.0000%43m0.004360+0.046%$17K$235K20xas long as short
gTrade (Gains Network) PUMP/USDL +0.0002% / S −0.0002%1h0.004357−0.013%$52K—150xas long as short
Lighter PUMP+0.0096%1h0.0043580.000%$2.8M$5.4M10xas long as short
Popdex PUMPUSDT+0.0096%1h0.004300−1.331%$29K$818K20xas long as short
Aster PUMPUSDT+0.0100%4h0.004359+0.030%$686K$2.4M50xas long as short
Pacifica PUMP+0.0100%1h0.004365+0.161%$484K$817K10xas long as short
Binance PUMPUSDT+0.0100%4h0.004360+0.057%$79.3M$172.9M75xas long as short
OKX PUMP-USDT-SWAP+0.0100%4h0.004356−0.046%$23.7M$96.5M50xas long as short
Show all 42 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Ondo Perps PUMP-USD.P+0.0100%1h0.004378+0.470%$36K$186K5xas long as short
Arcus PUMP-USD+0.0100%1h0.004364+0.138%$61K$102K10xas long as short
Gate PUMP_USDT+0.0100%4h0.004355−0.069%$4.8M$11.2M75xas long as short
KuCoin PUMPUSDTM+0.0100%4h0.004359+0.023%$23.3M$14.0M50xas long as short
Bitget PUMPUSDTlong+0.0100%4h0.004358long leg$17.4M$20.2M75x
BingX PUMP-USDT+0.0100%4h0.004355−0.069%—$13.0M—as long as short
edgeX PUMPUSDC+0.0100%4h0.004379+0.473%$66K$3.2M20xas long as short
GRVT PUMP_USDT_Perp+0.0100%4h0.004377+0.443%$1.2M$10.5M10xas long as short
ApeX Omni PUMPUSDT+0.0100%1h0.004379+0.482%$145K$752K50xas long as short
Polymarket Perps PUMP-USD+0.0100%1h0.004364+0.138%$97K$2.1M10xas long as short
Orderly PERP_PUMP_USDC+0.0100%4h0.004357−0.023%$41K$11K10xas long as short
Derive PUMP-PERP+0.0100%1h0.004358−0.007%$5K$13K6.7xas long as short
SunX PUMP-USDT+0.0100%4h0.004359+0.023%$2K$764K20xas long as short
SoDEX PUMP-USD+0.0100%1h0.0043580.000%$273$7K10xas long as short
HTX PUMP-USDT+0.0100%4h0.004354−0.092%$21K$112K20xas long as short
Phemex PUMPUSDT+0.0100%4h0.004359+0.023%$2.0M$4.0M20xas long as short
Paradex PUMP-USD-PERP+0.0100%8h0.004365+0.160%$41K$2765xas long as short
Nado PUMP-PERP+0.0102%1h0.004360+0.057%$1.6M$2.1M10xas long as short
Aevo PUMP-PERP+0.0104%1h0.004355−0.069%$69K$11K3xas long as short
GMX PUMP/USD [WBTC.b-USDC]L +0.0191% / S −0.0050%1h0.0043580.000%$59K—100xas long as short
Extended PUMP-USD+0.0200%1h0.004357−0.016%$3.8M$4.3M50xas long as short
Deribit PUMP_USDC-PERPETUAL+0.0209%1h0.004360+0.046%$69K$124K25xas long as short
01 Exchange PUMPUSD+0.0256%1h0.004362+0.092%$6K$72710xas long as short
Hyperliquid PUMP+0.0270%1h0.004362+0.092%$162.7M$56.1M10xas long as short
BloFin PUMP-USDT+0.0340%4h0.004355−0.069%$3.6M$4.4M75xas long as short
Reya PUMPRUSDPERP+0.0344%1h0.004360+0.041%$2—3xas long as short
Phoenix PUMPshort+0.0345%1h0.004377+0.436%$42K$120K10x
Coinbase International PUMP-PERP-INTX+0.0440%1h0.004365+0.161%$691K$5.8M50xas long as short
RISEx PUMP/USDC+0.0570%1h0.004365+0.161%$519K$1.0M10xas long as short
Injective PUMP/USDC PERP+0.0706%1h0.004374+0.367%$38K$204K12xas long as short
Kraken Futures PF_PUMPUSD+0.0813%1h0.004360+0.050%$1.0M$3.4M50xas long as short
Aftermath Perps PUMPUSD+0.0894%1h0.004387+0.670%$579$115K10xas long as short