Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against BingX0.000%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1011.005% of the position

Long on BingX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.011%−$1 on $10k

Price spread, last 7 days+0.059%+$6 · spread now 0.000%, 7d avg +0.047%

Together, before fees+0.049%+$5 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 0.047% cheaper against BingX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX PNUT-USDT	0.05715	0.0100	pay 0.0050% / 4h	2h 01m	—	$6.6M	—
Short	Gate PNUT_USDT	0.05715	0.0100	get 0.0050% / 4h	2h 01m	$903K	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.047%: −$4.71
Slippage, 4 orders: −$75.51
Fee BingX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$105.21
Costs to cover: 1.005%
Break-even: never at this rate

Slippage from BingX: live order book, 6 min ago; Gate: live order book, 1 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 BingX live order book, 6 min ago	3.50 bp	16.6 bp −$17	62.4 bp −$624	586.4 bp −$58.6K	doesn't fit
Sell Gate live order book, 1 min ago	4.37 bp	32.5 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
OKX PNUT-USDT-SWAP	+0.0058%	4h	0.05707	−0.140%	$1.7M	$6.5M	20x	as long as short
BloFin PNUT-USDT	+0.0077%	4h	0.05725	+0.175%	$289K	$27K	50x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05718	+0.060%	$3K	$19K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05717	+0.036%	$5.5M	$11.0M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05715	0.000%	$2.6M	$1.5M	50x	as long as short
Gate PNUT_USDTshort	+0.0100%	4h	0.05715	0.000%	$903K	$1.3M	50x
MEXC PNUT_USDT	+0.0100%	4h	0.05718	+0.052%	$1.1M	$450K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05715	0.000%	$782K	$1.1M	50x	as long as short
BingX PNUT-USDTlong	+0.0100%	4h	0.05715	long leg	—	$6.6M	—
Variational Omni PNUT	+0.0100%	4h	0.05716	+0.026%	$33	$2K	—	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PNUT-USD	+0.0104%	1h	0.05715	+0.006%	$6K	$81K	5x	as long as short
KuCoin PNUTUSDTM	+0.0286%	4h	0.05727	+0.210%	$1.1M	$113K	30x	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0450%	1h	0.05719	+0.070%	$4	—	10x	as long as short
Hyperliquid PNUT	+0.0818%	1h	0.05729	+0.245%	$1.7M	$511K	3x	as long as short
Kraken Futures PF_PNUTUSD	+0.0927%	1h	0.05715	+0.008%	$24K	$13K	10x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1472%	1h	0.05762	+0.822%	$366K	$42K	50x	as long as short