Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0972%/8h= +106.4% APRpaid last 24h +0.330%

Price spread now: Coinbase International against BingX+1.626%7-day average +0.612% · you sell dearer than you buy

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

Long on BingX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.613%+$161 on $10k

Price spread, last 3 days (all we have)−1.089%−$109 · spread now +1.626%, 7d avg +0.612%

Together, before fees+0.524%+$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Coinbase International is 1.014% dearer against BingX than usual: you sell high and buy low: +$101 more if the spread goes back to its 7-day average of +0.612%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PNUT-USDT	0.05597	0.0100	pay 0.0050% / 4h	2h 54m	—	$6.6M	—
Short	Coinbase International PNUT-PERP-INTX	0.05688	0.1072	get 0.0134% / 1h	54m 40s	$361K	$56K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BingX. 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 BingXbpFee Coinbase InternationalbpOrdersPrice spread, now +1.626%Rate

Funding earned: $204.12
Price spread: +1.626% → +0.612%: $101.36
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $285.48
Costs to cover: 0.200%
Break-even: from the start

Slippage unknown: BingX: live order book, 12 min ago; Coinbase International: live order book, 13 min ago. 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 BingX live order book, 12 min ago	3.54 bp	18.6 bp −$19	55.3 bp −$553	573.0 bp −$57.3K	doesn't fit
Sell Coinbase International live order book, 13 min ago	24.67 bp	605.8 bp −$606	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
OKX PNUT-USDT-SWAP	+0.0098%	4h	0.05586	−0.197%	$1.7M	$5.6M	20x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05599	+0.031%	$3K	$19K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05600	+0.050%	$5.3M	$9.8M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05594	−0.054%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05593	−0.071%	$857K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05591	−0.107%	$1.2M	$385K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05590	−0.125%	$768K	$1.1M	50x	as long as short
BingX PNUT-USDTlong	+0.0100%	4h	0.05597	long leg	—	$6.6M	—
Variational Omni PNUT	+0.0100%	4h	0.05582	−0.275%	$32	$3K	—	as long as short
Extended PNUT-USD	+0.0104%	1h	0.05592	−0.086%	$6K	$139K	5x	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	+0.0108%	1h	0.05596	−0.018%	$4	—	10x	as long as short
BloFin PNUT-USDT	+0.0128%	4h	0.05589	−0.143%	$288K	$25K	50x	as long as short
KuCoin PNUTUSDTM	+0.0274%	4h	0.05600	+0.054%	$1.1M	$131K	30x	as long as short
Kraken Futures PF_PNUTUSD	+0.0746%	1h	0.05603	+0.105%	$24K	$13K	10x	as long as short
Hyperliquid PNUT	+0.0884%	1h	0.05608	+0.197%	$1.6M	$477K	3x	as long as short
Coinbase International PNUT-PERP-INTXshort	+0.1072%	1h	0.05688	+1.626%	$361K	$56K	50x