Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0637%/8h= +69.7% APRpaid last 24h +0.394%

Price spread now: Kraken Futures against Binance+0.096%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Kraken Futures is 0.096% dearer against Binance than usual: you sell high and buy low: +$10 more if the spread 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	0.05667	0.0100	pay 0.0050% / 4h	2h 49m	$5.4M	$9.9M	50x
Short	Kraken Futures PF_PNUTUSD	0.05672	0.0737	get 0.0092% / 1h	49m 46s	$24K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.096%Rate

Funding earned: $133.68
Price spread: +0.096% → 0.000%: $9.57
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $123.25
Costs to cover: 0.200%
Break-even: 0.5 days

Slippage unknown: Binance: live order book, 5 min ago; Kraken Futures: 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, 5 min ago	0.89 bp	15.5 bp −$16	57.3 bp −$573	4282.8 bp −$428.3K	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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
BloFin PNUT-USDT	+0.0069%	4h	0.05640	−0.476%	$289K	$25K	50x	as long as short
OKX PNUT-USDT-SWAP	+0.0098%	4h	0.05664	−0.053%	$1.7M	$5.7M	20x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05659	−0.138%	$3K	$18K	5x	as long as short
Binance PNUTUSDTlong	+0.0100%	4h	0.05667	long leg	$5.4M	$9.9M	50x
Bybit PNUTUSDT	+0.0100%	4h	0.05664	−0.053%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05663	−0.071%	$868K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05669	+0.035%	$1.2M	$388K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05664	−0.053%	$777K	$1.1M	50x	as long as short
BingX PNUT-USDT	+0.0100%	4h	0.05660	−0.124%	—	$6.6M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05643	−0.430%	$32	$3K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit PNUT_USDC-PERPETUAL	+0.0103%	1h	0.05665	−0.035%	$4	—	10x	as long as short
Extended PNUT-USD	+0.0104%	1h	0.05665	−0.031%	$6K	$139K	5x	as long as short
KuCoin PNUTUSDTM	+0.0310%	4h	0.05665	−0.035%	$1.1M	$131K	30x	as long as short
Kraken Futures PF_PNUTUSDshort	+0.0737%	1h	0.05672	+0.096%	$24K	$13K	10x
Hyperliquid PNUT	+0.0984%	1h	0.05681	+0.247%	$1.6M	$478K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1072%	1h	0.05688	+0.371%	$361K	$56K	50x	as long as short