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 Bitget−0.213%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.213% cheaper against Bitget than usual: you would sell low and buy high, −$21 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	Bitget PNUTUSDT	0.05656	0.0100	pay 0.0050% / 4h	2h 11m	$766K	$1.1M	50x
Short	Variational Omni PNUT	0.05644	0.0100	get 0.0050% / 4h	2h 11m	$32	$3K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.213%Rate

Funding earned: $0
Price spread: −0.213% → 0.000%: −$21.29
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$33.29
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	4.43 bp	19.9 bp −$20	56.7 bp −$567	doesn't fit	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	0.05662	+0.106%	$4	—	10x	as long as short
OKX PNUT-USDT-SWAP	+0.0046%	4h	0.05657	+0.018%	$1.7M	$5.8M	20x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05657	+0.024%	$3K	$18K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05658	+0.032%	$5.3M	$10.0M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05657	+0.018%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05659	+0.053%	$895K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05659	+0.053%	$1.2M	$397K	100x	as long as short
Bitget PNUTUSDTlong	+0.0100%	4h	0.05656	long leg	$766K	$1.1M	50x
BingX PNUT-USDC	+0.0100%	4h	0.05655	−0.018%	—	$6.5M	—	as long as short
Variational Omni PNUTshort	+0.0100%	4h	0.05644	−0.213%	$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	0.05656	+0.004%	$8K	$143K	5x	as long as short
KuCoin PNUTUSDTM	+0.0240%	4h	0.05662	+0.106%	$1.1M	$131K	30x	as long as short
Kraken Futures PF_PNUTUSD	+0.0738%	1h	0.05664	+0.137%	$24K	$14K	10x	as long as short
Hyperliquid PNUT	+0.0808%	1h	0.05671	+0.265%	$1.6M	$484K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1072%	1h	0.05682	+0.460%	$360K	$55K	50x	as long as short