That market exists, but the window of time here is like twenty minutes. Pumps have inertia and take time to spin up, you can't HFT load and generation.
In the case of Cruachan Power Station: “It takes just two minutes for a turbine to run up from rest to generate mode,” says Martin McGhie, Operations and Maintenance Manager at the power station. “It takes slightly longer for the turbines to run down from generate to rest, but whatever function the turbines are performing, they can reach it within a matter of minutes.”
https://www.drax.com/power-generation/in-energy-storage-timi...