Funding arb · Price arb /

PUMP

all PUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0029%/8h= −3.2% APRpaid last 24h −0.038%

Price spread now: Gate against Phoenix−0.099%62s7-day average −0.132% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as 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−$670.667% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.164%−$16 on $10k

Price spread, last 3 days (all we have)−1.130%−$113 · spread now −0.099%, 7d avg −0.132%

Together, before fees−1.294%−$129 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.033% dearer against Phoenix than usual: you sell high and buy low (spread −0.099% now, against its 7-day average of −0.132%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.7 days. At the pace of the last 7 days (−0.164% in total) that is about 34 hours. The two prices were read 62 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix PUMP	0.004337	0.0129	pay 0.0016% / 1h	32m 20s	$39K	$99K	10x
Short	Gate PUMP_USDT	0.004333	0.0100	get 0.0050% / 4h	2h 32m	$4.6M	$11.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phoenix. 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 PhoenixbpFee GatebpOrdersPrice spread, now −0.099%Rate

Funding earned: −$6.18
Price spread: −0.099% → −0.132%: $3.29
Slippage, 4 orders: −$44.66
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$69.54
Costs to cover: 0.667%
Break-even: never at this rate

Slippage from Phoenix: live order book, 48 min ago; Gate: live order book, 1 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 Phoenix live order book, 48 min ago	2.09 bp	16.2 bp −$16	58.2 bp −$582	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.46 bp	15.1 bp −$15	38.5 bp −$385	77.1 bp −$7,712	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	−0.2934%	1h	0.004336	−0.030%	$20K	$8K	5x	as long as short
Backpack PUMP_USDC_PERP	−0.0356%	1h	0.004330	−0.164%	$775K	$181K	5x	as long as short
Perpl PUMP	−0.0112%	43m	0.004333	−0.099%	$20K	$204K	20x	as long as short
OKX PUMP-USDT-SWAP	−0.0062%	4h	0.004331	−0.145%	$22.6M	$94.7M	50x	as long as short
Orderly PERP_PUMP_USDC	−0.0018%	4h	0.004332	−0.122%	$41K	$10K	10x	as long as short
Deribit PUMP_USDC-PERPETUAL	0.0000%	1h	0.004332	−0.122%	$69K	$126K	25x	as long as short
gTrade (Gains Network) PUMP/USD	L +0.0002% / S −0.0002%	1h	0.004334	−0.087%	$55K	—	150x	as long as short
Lighter PUMP	+0.0096%	1h	0.004330	−0.168%	$2.9M	$5.5M	10x	as long as short
Popdex PUMPUSDT	+0.0096%	1h	0.004300	−0.860%	$29K	$766K	20x	as long as short
Paradex PUMP-USD-PERP	+0.0100%	8h	0.004330	−0.166%	$42K	—	5x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado PUMP-PERP	+0.0100%	1h	0.004332	−0.111%	$1.6M	$2.0M	10x	as long as short
Hyperliquid PUMP	+0.0100%	1h	0.004338	+0.016%	$158.6M	$52.1M	10x	as long as short
Aster PUMPUSDT	+0.0100%	4h	0.004334	−0.076%	$787K	$2.0M	50x	as long as short
Pacifica PUMP	+0.0100%	1h	0.004331	−0.145%	$449K	$614K	10x	as long as short
Binance PUMPUSDT	+0.0100%	4h	0.004332	−0.114%	$76.8M	$163.9M	75x	as long as short
Ondo Perps PUMP-USD.P	+0.0100%	1h	0.004319	−0.431%	$25K	$178K	5x	as long as short
Arcus PUMP-USD	+0.0100%	1h	0.004333	−0.099%	$42K	$53K	10x	as long as short
Gate PUMP_USDTshort	+0.0100%	4h	0.004333	−0.099%	$4.6M	$11.7M	75x
KuCoin PUMPUSDTM	+0.0100%	4h	0.004336	−0.030%	$22.8M	$13.9M	50x	as long as short
Bitget PUMPUSDT	+0.0100%	4h	0.004332	−0.122%	$17.1M	$19.1M	75x	as long as short
BingX PUMP-USDT	+0.0100%	4h	0.004333	−0.099%	—	$12.7M	—	as long as short
edgeX PUMPUSDC	+0.0100%	4h	0.004325	−0.283%	$63K	$3.0M	20x	as long as short
GRVT PUMP_USDT_Perp	+0.0100%	4h	0.004332	−0.113%	$1.2M	$9.7M	10x	as long as short
ApeX Omni PUMPUSDT	+0.0100%	1h	0.004319	−0.422%	$136K	$767K	50x	as long as short
Polymarket Perps PUMP-USD	+0.0100%	1h	0.004336	−0.030%	$107K	$1.8M	10x	as long as short
Derive PUMP-PERP	+0.0100%	1h	0.004332	−0.123%	$5K	$13K	6.7x	as long as short
SunX PUMP-USDT	+0.0100%	4h	0.004332	−0.122%	$2K	$708K	20x	as long as short
SoDEX PUMP-USD	+0.0100%	1h	0.004330	−0.168%	$714	$6K	10x	as long as short
HTX PUMP-USDT	+0.0100%	4h	0.004333	−0.099%	$21K	$148K	20x	as long as short
Phemex PUMPUSDT	+0.0100%	4h	0.004327	−0.237%	$2.0M	$4.0M	20x	as long as short
Extended PUMP-USD	+0.0104%	1h	0.004331	−0.145%	$3.6M	$3.7M	50x	as long as short
Aevo PUMP-PERP	+0.0104%	1h	0.004328	−0.214%	$71K	$18K	3x	as long as short
01 Exchange PUMPUSD	+0.0120%	1h	0.004334	−0.076%	$6K	$497	10x	as long as short
RISEx PUMP/USDC	+0.0125%	1h	0.004334	−0.065%	$493K	$1.0M	10x	as long as short
Phoenix PUMPlong	+0.0129%	1h	0.004337	long leg	$39K	$99K	10x
Coinbase International PUMP-PERP-INTX	+0.0240%	1h	0.004338	+0.016%	$659K	$5.4M	50x	as long as short
GMX PUMP/USD [WBTC.b-USDC]	L +0.0306% / S −0.0223%	1h	0.004333	−0.099%	$67K	—	100x	as long as short
Aftermath Perps PUMPUSD	+0.0314%	1h	0.004323	−0.341%	$180	$106K	10x	as long as short
BloFin PUMP-USDT	+0.0340%	4h	0.004325	−0.284%	$3.4M	$3.7M	75x	as long as short
Reya PUMPRUSDPERP	+0.0344%	1h	0.004332	−0.115%	$2	—	3x	as long as short
Injective PUMP/USDC PERP	+0.0521%	1h	0.004324	−0.307%	$38K	$207K	12x	as long as short
Kraken Futures PF_PUMPUSD	+0.0685%	1h	0.004335	−0.061%	$1.3M	$3.5M	50x	as long as short