Funding arb · Price arb /

PNUT

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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: Variational Omni against BingX+0.080%7-day average — · you sell dearer than you buy

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

Long on BingX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.080% dearer against BingX than usual: you sell high and buy low, +$8 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	BingX PNUT-USDT	0.05648	0.0100	pay 0.0050% / 4h	2h 09m	—	$6.6M	—
Short	Variational Omni PNUT	0.05653	0.0100	get 0.0050% / 4h	2h 09m	$32	$3K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.080%Rate

Funding earned: $0
Price spread: +0.080% → 0.000%: $7.99
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$2.01
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 12 min ago; Variational Omni: 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 BingX live order book, 12 min ago	3.54 bp	15.4 bp −$15	40.2 bp −$402	567.4 bp −$56.7K	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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 15 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
Deribit PNUT_USDC-PERPETUAL	0.0000%	1h	0.05647	−0.018%	$4	—	10x	as long as short
OKX PNUT-USDT-SWAP	+0.0049%	4h	0.05639	−0.159%	$1.7M	$5.8M	20x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05650	+0.043%	$3K	$18K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05640	−0.141%	$5.3M	$10.0M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05642	−0.106%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05649	+0.018%	$894K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05640	−0.142%	$1.2M	$397K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05647	−0.018%	$765K	$1.1M	50x	as long as short
BingX PNUT-USDTlong	+0.0100%	4h	0.05648	long leg	—	$6.6M	—
Variational Omni PNUTshort	+0.0100%	4h	0.05653	+0.080%	$32	$3K	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PNUT-USD	+0.0104%	1h	0.05639	−0.165%	$8K	$143K	5x	as long as short
KuCoin PNUTUSDTM	+0.0242%	4h	0.05652	+0.071%	$1.1M	$131K	30x	as long as short
Kraken Futures PF_PNUTUSD	+0.0740%	1h	0.05648	+0.003%	$24K	$14K	10x	as long as short
Hyperliquid PNUT	+0.0805%	1h	0.05657	+0.159%	$1.6M	$484K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1072%	1h	0.05682	+0.602%	$360K	$55K	50x	as long as short