In ASL pseudo-continuous labeling (pCASL) is often used as a labelling scheme due to its increased SNR compared to pulsed variants. After labeling and a subsequent post-labeling delay, the amount of labeled blood in the organ of interest is acquired. In this abstract, we describe a new approach, which allows to measure the blood signal while it is labeled. Results are presented for a four-phase Hadamard-encoded pCASL sequence. This will ultimately allow for a realtime monitoring of the arterial input function in pCASL.