Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1156%/8h= +126.6% APRpaid last 24h +0.330%

Price spread now: Coinbase International against Bitget−0.018%7-day average +0.630% · you buy dearer than you sell

Net, funding: paid 7d − costs+$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$860.860% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.627%+$163 on $10k

Price spread, last 4 days (all we have)+0.537%+$54 · spread now −0.018%, 7d avg +0.630%

Together, before fees+2.165%+$216 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.648% cheaper against Bitget than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.630%). If the spread goes back, that is −$65 on $10k: about 45 hours of funding at the current rate (+$35 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget PNUTUSDT	0.05661	0.0100	pay 0.0050% / 4h	1h 19m	$769K	$1.1M	50x
Short	Coinbase International PNUT-PERP-INTX	0.05660	0.1256	get 0.0157% / 1h	19m 46s	$359K	$53K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.018%Rate

Funding earned: $242.76
Price spread: −0.018% → +0.630%: −$64.81
Slippage, 4 orders: −$64.02
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $91.93
Costs to cover: 0.860%
Break-even: 4.3 days

Slippage from Bitget: live order book, 1 min ago; Coinbase International: live order book, 43 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 Bitget live order book, 1 min ago	6.18 bp	19.3 bp −$19	59.1 bp −$591	doesn't fit	doesn't fit
Sell Coinbase International live order book, 43 min ago	14.12 bp	27.0 bp −$27	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	−0.0024%	4h	0.05665	+0.071%	$1.7M	$5.8M	20x	as long as short
BloFin PNUT-USDT	+0.0083%	4h	0.05651	−0.177%	$286K	$26K	50x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05662	+0.022%	$3K	$18K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05664	+0.047%	$5.3M	$10.0M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05663	+0.035%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05665	+0.071%	$902K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05669	+0.141%	$1.2M	$402K	100x	as long as short
Bitget PNUTUSDTlong	+0.0100%	4h	0.05661	long leg	$769K	$1.1M	50x
BingX PNUT-USDT	+0.0100%	4h	0.05664	+0.053%	—	$6.6M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05662	+0.026%	$32	$3K	—	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	0.05663	+0.042%	$6K	$139K	5x	as long as short
KuCoin PNUTUSDTM	+0.0132%	4h	0.05671	+0.177%	$1.1M	$122K	30x	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0280%	1h	0.05667	+0.106%	$4	—	10x	as long as short
Kraken Futures PF_PNUTUSD	+0.0377%	1h	0.05673	+0.204%	$24K	$14K	10x	as long as short
Hyperliquid PNUT	+0.0780%	1h	0.05679	+0.318%	$1.6M	$480K	3x	as long as short
Coinbase International PNUT-PERP-INTXshort	+0.1256%	1h	0.05660	−0.018%	$359K	$53K	50x