Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0005%/8h= +0.5% APRpaid last 24h −0.010%

Price spread now: Deribit against Binance+0.054%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.054% dearer against Binance than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PNUTUSDT	0.05633	0.0100	pay 0.0050% / 4h	3h 40m	$5.4M	$9.7M	50x
Short	Deribit PNUT_USDC-PERPETUAL	0.05636	0.0105	get 0.0013% / 1h	40m 47s	$4	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.054%Rate

Funding earned: $1.05
Price spread: +0.054% → 0.000%: $5.41
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$10.54
Costs to cover: 0.170%
Break-even: 77.4 days

Slippage unknown: Binance: live order book, 14 min ago; Deribit: no order-book sample. Net counts fees only.

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 Binance live order book, 14 min ago	0.89 bp	14.8 bp −$15	55.3 bp −$553	4033.1 bp −$403.3K	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

PNUT on 16 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
Kraken Futures PF_PNUTUSD	−0.0202%	1h	0.05636	+0.051%	$24K	$13K	10x	as long as short
BloFin PNUT-USDT	+0.0078%	4h	0.05630	−0.052%	$288K	$25K	50x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05632	−0.017%	$3K	$19K	5x	as long as short
Binance PNUTUSDTlong	+0.0100%	4h	0.05633	long leg	$5.4M	$9.7M	50x
Bybit PNUTUSDT	+0.0100%	4h	0.05631	−0.035%	$2.6M	$1.3M	50x	as long as short
OKX PNUT-USDT-SWAP	+0.0100%	4h	0.05629	−0.070%	$1.7M	$5.5M	20x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05631	−0.035%	$866K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05632	−0.017%	$1.2M	$370K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05631	−0.035%	$795K	$1.1M	50x	as long as short
BingX PNUT-USDC	+0.0100%	4h	0.05630	−0.052%	—	$6.5M	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni PNUT	+0.0100%	4h	0.05629	−0.068%	$32	$3K	—	as long as short
Extended PNUT-USD	+0.0104%	1h	0.05632	−0.024%	$7K	$149K	5x	as long as short
Deribit PNUT_USDC-PERPETUALshort	+0.0105%	1h	0.05636	+0.054%	$4	—	10x
KuCoin PNUTUSDTM	+0.0270%	4h	0.05640	+0.125%	$1.1M	$130K	30x	as long as short
Hyperliquid PNUT	+0.0789%	1h	0.05646	+0.232%	$1.6M	$479K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1072%	1h	0.05677	+0.782%	$360K	$55K	50x	as long as short