PUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0325%/8h= −35.6% APRnext payment −$0.41 per $10,000 · paid last 24h −0.245%

Price spread now: Phoenix against Kraken Futures−0.677%71s7-day average +0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as 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−$710.711% of the position

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.220%−$22 on $10k

Price spread, last 4 days (all we have)+0.603%+$60 · spread now −0.677%, 7d avg +0.040%

Together, before fees+0.383%+$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Phoenix is 0.717% cheaper against Kraken Futures than usual: you would sell low and buy high (−$72 if the spread goes back to its 7-day average of +0.040%). Swap the legs. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.220% in total (about -11.5% 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 are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PUMPUSD	0.004542	0.0623	pay 0.0078% / 1h	27m 46s	$1.1M	$3.1M	50x
Short	Phoenix PUMP	0.004511	0.0298	get 0.0037% / 1h	27m 46s	$44K	$144K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.677%Rate

Funding earned: −$68.31
Price spread: −0.677% → +0.040%: −$71.69
Slippage, 4 orders: −$54.09
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$211.09
Costs to cover: 0.711%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Phoenix: live order book, 11 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, 4 min ago	6.65 bp	21.2 bp −$21	34.3 bp −$343	doesn't fit	doesn't fit
Sell Phoenix live order book, 11 min ago	1.99 bp	16.2 bp −$16	50.4 bp −$504	doesn't fit	doesn't fit

PUMP on 41 exchanges

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	−0.0294%	1h	0.004534	−0.170%	$21K	$12K	5x	as long as short
Gate PUMP_USDT	−0.0092%	4h	0.004545	+0.072%	$4.9M	$9.8M	75x	as long as short
Perpl PUMP	0.0000%	43m	0.004534	−0.170%	$18K	$271K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0002%	1h	0.004537	−0.102%	$55K	—	150x	as long as short
01 Exchange PUMPUSD	+0.0088%	1h	0.004538	−0.082%	$6K	$333	10x	as long as short
Lighter PUMP	+0.0096%	1h	0.004552	+0.226%	$3.0M	$2.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−0.919%	$32K	$590K	20x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004554	+0.270%	$169.6M	$47.2M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004548	+0.138%	$851K	$1.8M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004550	+0.182%	$514K	$842K	10x	as long as short

Show all 41 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance PUMPUSDT	+0.0100%	4h	0.004550	+0.187%	$82.6M	$173.5M	75x	as long as short
OKX PUMP-USDT-SWAP	+0.0100%	4h	0.004546	+0.094%	$24.7M	$102.6M	50x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004503	−0.855%	$22K	$155K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004536	−0.126%	$53K	$155K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004553	+0.248%	$25.1M	$13.5M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004548	+0.138%	$18.1M	$18.7M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004546	+0.094%	—	$14.4M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004548	+0.136%	$830K	$222K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004506	−0.781%	$66K	$3.3M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004508	−0.742%	$1.3M	$10.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004507	−0.765%	$95K	$777K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004538	−0.082%	$84K	$1.8M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004538	−0.082%	$44K	$4K	10x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004536	−0.126%	$2K	$771K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004538	−0.082%	$550	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004535	−0.148%	$23K	$130K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004539	−0.060%	$1.9M	$3.8M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004549	+0.150%	$43K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004545	+0.072%	$3.8M	$3.8M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004539	−0.060%	$67K	$10K	3x	as long as short
Nado PUMP-PERP	+0.0182%	1h	0.004535	−0.159%	$1.6M	$2.1M	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0191%	1h	0.004540	−0.038%	$69K	$101K	25x	as long as short
Injective PUMP/USDC PERP	+0.0251%	1h	0.004514	−0.611%	$36K	$205K	12x	as long as short
Phoenix PUMPshort	+0.0298%	1h	0.004511	−0.677%	$44K	$144K	10x
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0278%	1h	0.004517	−0.545%	$65K	—	100x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004520	−0.479%	$3.8M	$4.4M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004535	−0.139%	$2	—	3x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0544%	1h	0.004543	+0.028%	$707K	$6.0M	50x	as long as short
RISEx PUMP/USDC	+0.0558%	1h	0.004537	−0.113%	$559K	$867K	10x	as long as short
Kraken Futures PF_PUMPUSDlong	+0.0623%	1h	0.004542	long leg	$1.1M	$3.1M	50x
Aftermath Perps PUMPUSD	+0.0712%	1h	0.004517	−0.547%	$687	$118K	10x	as long as short