Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0444%/8h= −48.7% APRpaid last 24h −0.299%

Price spread now: Phemex against Kraken Futures−0.055%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$94as in the Price arb table

costs, in and out, $10k−$950.946% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.296%−$30 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now −0.055%, 7d avg −0.059%

Together, before fees−0.301%−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.059%, 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 -0.296% in total (about -15.4% 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	Kraken Futures PF_PUMPUSD	0.004535	0.0544	pay 0.0068% / 1h	50m 21s	$1.1M	$3.5M	50x
Short	Phemex PUMPUSDT	0.004532	0.0100	get 0.0050% / 4h	1h 50m	$2.0M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$93.31
Price spread: −0.055% → −0.059%: $0.37
Slippage, 4 orders: −$72.61
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$187.55
Costs to cover: 0.946%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Phemex: live order book, 3 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 Kraken Futures live order book, 3 min ago	5.55 bp	17.4 bp −$17	40.5 bp −$405	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	5.55 bp	32.2 bp −$32	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	0.0000%	1h	0.004523	−0.254%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004527	−0.165%	$18K	$257K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004525	−0.213%	$56K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004534	−0.011%	$2.9M	$4.6M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−0.761%	$30K	$627K	20x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004530	−0.097%	$846K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004527	−0.165%	$539K	$886K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004531	−0.080%	$83.3M	$170.2M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004528	−0.143%	$24.8M	$98.9M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004511	−0.507%	$27K	$161K	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	0.004528	−0.143%	$65K	$100K	10x	as long as short
Gate PUMP_USDT	+0.0100%	4h	0.004523	−0.254%	$5.0M	$10.4M	75x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004532	−0.055%	$24.5M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004530	−0.099%	$18.1M	$19.0M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004526	−0.187%	—	$14.2M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004524	−0.234%	$814K	$198K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004503	−0.688%	$68K	$3.1M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004506	−0.629%	$1.3M	$10.3M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004504	−0.673%	$152K	$743K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004529	−0.121%	$108K	$2.2M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004527	−0.165%	$43K	$11K	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004526	−0.191%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004524	−0.232%	$2K	$761K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004533	−0.033%	$284	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004518	−0.364%	$22K	$85K	20x	as long as short
Phemex PUMPUSDTshort	+0.0100%	4h	0.004532	−0.055%	$2.0M	$3.9M	20x
Extended PUMP-USD	+0.0104%	1h	0.004531	−0.071%	$3.8M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004526	−0.187%	$67K	$10K	3x	as long as short
Paradex PUMP-USD-PERP	+0.0106%	8h	0.004528	−0.134%	$43K	$276	5x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0192%	1h	0.004527	−0.165%	$70K	$115K	25x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0273% / S −0.0200%	1h	0.004525	−0.210%	$54K	—	100x	as long as short
Nado PUMP-PERP	+0.0288%	1h	0.004509	−0.551%	$1.6M	$2.1M	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004526	−0.187%	$3.8M	$4.6M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004527	−0.170%	$2	—	3x	as long as short
01 Exchange PUMPUSD	+0.0344%	1h	0.004530	−0.099%	$6K	$600	10x	as long as short
Phoenix PUMP	+0.0405%	1h	0.004507	−0.598%	$47K	$139K	10x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0528%	1h	0.004535	+0.011%	$731K	$5.7M	50x	as long as short
Kraken Futures PF_PUMPUSDlong	+0.0544%	1h	0.004535	long leg	$1.1M	$3.5M	50x
Injective PUMP/USDC PERP	+0.0564%	1h	0.004529	−0.121%	$38K	$204K	12x	as long as short
Hyperliquid PUMP	+0.0597%	1h	0.004534	−0.011%	$169.4M	$51.1M	10x	as long as short
RISEx PUMP/USDC	+0.0764%	1h	0.004529	−0.110%	$551K	$1.0M	10x	as long as short
Aftermath Perps PUMPUSD	+0.1136%	1h	0.004522	−0.270%	$499	$111K	10x	as long as short