PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0443%/8h= −48.5% APRnext payment −$0.55 per $10,000 · paid last 24h −0.010%

Price spread now: Backpack against Deribit−0.069%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

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

Long on Deribit Short on Backpack

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)−0.011%−$1 · spread now −0.069%, 7d avg −0.051%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

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 −$0.55 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	Deribit PUMP_USDC-PERPETUAL	0.004371	0	get 0.0000% / 1h	52m 03s	$69K	$124K	25x
Short	Backpack PUMP_USDC_PERP	0.004368	−0.0443	pay 0.0055% / 1h	52m 03s	$774K	$199K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Deribit. 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 DeribitbpFee BackpackbpOrdersPrice spread, now −0.069%Rate

Funding earned: −$93.05
Price spread: −0.069% → −0.051%: −$1.74
Slippage, 4 orders: −$33.77
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$145.57
Costs to cover: 0.508%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; Backpack: live order book, 7 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 Deribit live order book, 2 min ago	8.00 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 7 min ago	2.50 bp	7.7 bp −$8	13.3 bp −$133	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
Backpack PUMP_USDC_PERPshort	−0.0443%	1h	0.004368	−0.069%	$774K	$199K	5x
dYdX PUMP-USD	0.0000%	1h	0.004370	−0.018%	$20K	$9K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004373	+0.046%	$18K	$235K	20x	as long as short
Deribit PUMP_USDC-PERPETUALlong	0.0000%	1h	0.004371	long leg	$69K	$124K	25x
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004369	−0.038%	$53K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004371	0.000%	$2.8M	$5.4M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−1.624%	$29K	$818K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004370	−0.032%	$687K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004372	+0.023%	$485K	$817K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004369	−0.053%	$79.3M	$172.7M	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	0.004368	−0.069%	$23.8M	$96.7M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004378	+0.172%	$36K	$186K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004373	+0.046%	$64K	$99K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004366	−0.114%	$4.8M	$11.2M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004371	0.000%	$23.4M	$14.0M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004368	−0.069%	$17.5M	$20.2M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004370	−0.023%	—	$12.9M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004393	+0.501%	$64K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004401	+0.679%	$1.2M	$10.5M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004390	+0.435%	$146K	$751K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004375	+0.092%	$97K	$2.1M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004371	0.000%	$41K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004370	−0.018%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004372	+0.023%	$2K	$764K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004369	−0.046%	$274	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004365	−0.137%	$21K	$112K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004367	−0.092%	$2.0M	$4.0M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004372	+0.032%	$42K	$276	5x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004366	−0.114%	$70K	$11K	3x	as long as short
Nado PUMP-PERP	+0.0112%	1h	0.004374	+0.080%	$1.6M	$2.1M	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0191% / S −0.0050%	1h	0.004370	−0.023%	$59K	—	100x	as long as short
Extended PUMP-USD	+0.0208%	1h	0.004366	−0.107%	$3.8M	$4.3M	50x	as long as short
01 Exchange PUMPUSD	+0.0264%	1h	0.004372	+0.023%	$6K	$727	10x	as long as short
Hyperliquid PUMP	+0.0311%	1h	0.004374	+0.069%	$163.1M	$56.1M	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004378	+0.160%	$3.6M	$4.4M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004374	+0.064%	$2	—	3x	as long as short
Phoenix PUMP	+0.0345%	1h	0.004402	+0.700%	$43K	$120K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0440%	1h	0.004378	+0.160%	$693K	$5.8M	50x	as long as short
RISEx PUMP/USDC	+0.0570%	1h	0.004372	+0.011%	$520K	$1.0M	10x	as long as short
Injective PUMP/USDC PERP	+0.0706%	1h	0.004387	+0.366%	$38K	$204K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0810%	1h	0.004372	+0.013%	$1.0M	$3.4M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0890%	1h	0.004392	+0.479%	$580	$115K	10x	as long as short