Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Binance+0.099%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$970.968% of the position

Long on Binance Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.269%−$27 · spread now +0.099%, 7d avg +0.020%

Together, before fees−0.254%−$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.079% dearer against Binance than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance PNUTUSDT	0.05629	0.0100	pay 0.0050% / 4h	3h 44m	$5.4M	$9.7M	50x
Short	Gate PNUT_USDT	0.05635	0.0100	get 0.0050% / 4h	3h 44m	$867K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.099%Rate

Funding earned: $0
Price spread: +0.099% → +0.020%: $7.89
Slippage, 4 orders: −$71.78
Fee Binance: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$88.9
Costs to cover: 0.968%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Gate: live order book, 3 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 Binance live order book, 10 min ago	0.89 bp	14.8 bp −$15	55.3 bp −$553	4033.1 bp −$403.3K	doesn't fit
Sell Gate live order book, 3 min ago	3.55 bp	33.2 bp −$33	doesn't fit	doesn't fit	doesn't fit

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	0.05640	+0.186%	$24K	$13K	10x	as long as short
Deribit PNUT_USDC-PERPETUAL	−0.0105%	1h	0.05636	+0.117%	$4	—	10x	as long as short
BloFin PNUT-USDT	+0.0064%	4h	0.05622	−0.132%	$287K	$26K	50x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05637	+0.135%	$3K	$19K	5x	as long as short
Binance PNUTUSDTlong	+0.0100%	4h	0.05629	long leg	$5.4M	$9.7M	50x
Bybit PNUTUSDT	+0.0100%	4h	0.05627	−0.043%	$2.6M	$1.3M	50x	as long as short
OKX PNUT-USDT-SWAP	+0.0100%	4h	0.05621	−0.149%	$1.7M	$5.5M	20x	as long as short
Gate PNUT_USDTshort	+0.0100%	4h	0.05635	+0.099%	$867K	$1.1M	50x
MEXC PNUT_USDT	+0.0100%	4h	0.05629	−0.007%	$1.2M	$370K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05628	−0.025%	$795K	$1.1M	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX PNUT-USDC	+0.0100%	4h	0.05630	+0.010%	—	$6.5M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05634	+0.075%	$32	$3K	—	as long as short
Extended PNUT-USD	+0.0104%	1h	0.05636	+0.112%	$7K	$149K	5x	as long as short
KuCoin PNUTUSDTM	+0.0258%	4h	0.05637	+0.135%	$1.1M	$132K	30x	as long as short
Hyperliquid PNUT	+0.0803%	1h	0.05635	+0.099%	$1.6M	$479K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1072%	1h	0.05677	+0.845%	$360K	$56K	50x	as long as short