Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h +0.052%

Price spread now: Phoenix against OKX+0.168%7-day average +0.146% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on OKX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.155%+$16 on $10k

Price spread, last 4 days (all we have)+1.072%+$107 · spread now +0.168%, 7d avg +0.146%

Together, before fees+1.227%+$123 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 0.022% dearer against OKX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.146%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.155% in total (about 8.1% 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	OKX PUMP-USDT-SWAP	0.004585	0.0100	pay 0.0050% / 4h	3h 03m	$25.2M	$103.4M	50x
Short	Phoenix PUMP	0.004593	0.0332	get 0.0042% / 1h	3m 12s	$45K	$146K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now +0.168%Rate

Funding earned: $48.77
Price spread: +0.168% → +0.146%: $2.19
Slippage, 4 orders: −$30.88
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $3.08
Costs to cover: 0.479%
Break-even: 6.6 days

Slippage from OKX: live order book, 6 min ago; Phoenix: live order book, 15 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 OKX live order book, 6 min ago	1.09 bp	8.3 bp −$8	19.5 bp −$195	110.2 bp −$11.0K	doesn't fit
Sell Phoenix live order book, 15 min ago	1.96 bp	16.1 bp −$16	50.2 bp −$502	doesn't fit	doesn't fit

PUMP on 41 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	−0.3075%	1h	0.004589	+0.087%	$21K	$11K	5x	as long as short
Perpl PUMP	0.0000%	43m	0.004582	−0.065%	$18K	$261K	20x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0003% / S −0.0003%	1h	0.004585	−0.002%	$61K	—	150x	as long as short
Gate PUMP_USDT	+0.0068%	4h	0.004583	−0.044%	$4.9M	$10.2M	75x	as long as short
Lighter PUMP	+0.0096%	1h	0.004589	+0.087%	$3.0M	$4.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004500	−1.854%	$30K	$667K	20x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004592	+0.153%	$170.8M	$49.7M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004587	+0.035%	$866K	$2.4M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004589	+0.087%	$524K	$857K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004588	+0.059%	$83.7M	$175.7M	75x	as long as short

Show all 41 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX PUMP-USDT-SWAPlong	+0.0100%	4h	0.004585	long leg	$25.2M	$103.4M	50x
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004586	+0.028%	$27K	$155K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004586	+0.022%	$51K	$152K	10x	as long as short
KuCoin PUMPUSDTM	+0.0100%	4h	0.004588	+0.065%	$25.2M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004587	+0.044%	$18.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004585	0.000%	—	$14.5M	—	as long as short
Backpack PUMP_USDC_PERP	+0.0100%	1h	0.004587	+0.039%	$822K	$212K	5x	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004594	+0.188%	$68K	$3.3M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004592	+0.160%	$1.3M	$10.9M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004595	+0.218%	$163K	$744K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004592	+0.153%	$108K	$2.2M	10x	as long as short
Orderly PERP_PUMP_USDC	+0.0100%	4h	0.004585	0.000%	$43K	$2K	10x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004582	−0.065%	$2K	$785K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004587	+0.044%	$253	$7K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004586	+0.022%	$22K	$126K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004585	0.000%	$2.0M	$3.9M	20x	as long as short
Paradex PUMP-USD-PERP	+0.0101%	8h	0.004589	+0.084%	$44K	$276	5x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004586	+0.029%	$3.9M	$4.0M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004585	0.000%	$68K	$10K	3x	as long as short
01 Exchange PUMPUSD	+0.0296%	1h	0.004583	−0.044%	$6K	$600	10x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0304% / S −0.0274%	1h	0.004586	+0.022%	$66K	—	100x	as long as short
Nado PUMP-PERP	+0.0314%	1h	0.004588	+0.076%	$1.7M	$2.1M	10x	as long as short
Phoenix PUMPshort	+0.0332%	1h	0.004593	+0.168%	$45K	$146K	10x
BloFin PUMP-USDT	+0.0340%	4h	0.004588	+0.065%	$3.8M	$4.8M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004588	+0.060%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0344%	1h	0.004582	−0.065%	$38K	$204K	12x	as long as short
Deribit PUMP_USDC-PERPETUAL	+0.0404%	1h	0.004588	+0.065%	$70K	$109K	25x	as long as short
Coinbase International PUMP-PERP-INTX	+0.0544%	1h	0.004593	+0.174%	$747K	$6.2M	50x	as long as short
RISEx PUMP/USDC	+0.0741%	1h	0.004585	0.000%	$582K	$1.1M	10x	as long as short
Kraken Futures PF_PUMPUSD	+0.0807%	1h	0.004591	+0.135%	$1.1M	$3.5M	50x	as long as short
Aftermath Perps PUMPUSD	+0.0949%	1h	0.004588	+0.076%	$508	$103K	10x	as long as short