Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1452%/8h= +159.0% APRpaid last 24h +0.334%

Price spread now: Coinbase International against BloFin+2.356%58s7-day average +0.686% · you sell dearer than you buy

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

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.691%+$169 on $10k

Price spread, last 4 days (all we have)−1.558%−$156 · spread now +2.356%, 7d avg +0.686%

Together, before fees+0.134%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$44 a day on $10k at the current rate, and Coinbase International is 1.670% dearer against BloFin than usual: you sell high and buy low: +$167 more if the spread goes back to its 7-day average of +0.686%. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin PNUT-USDT	0.05603	0.0020	pay 0.0010% / 4h	2h 38m	$288K	$26K	50x
Short	Coinbase International PNUT-PERP-INTX	0.05735	0.1472	get 0.0184% / 1h	38m 01s	$364K	$40K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now +2.356%Rate

Funding earned: $304.88
Price spread: +2.356% → +0.686%: $167.01
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $449.9
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: BloFin: live order book, 52 min ago; Coinbase International: live order book, 10 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 BloFin live order book, 52 min ago	7.00 bp	37.0 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 10 min ago	20.28 bp	54.9 bp −$55	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	−0.0037%	4h	0.05616	+0.232%	$1.6M	$6.3M	20x	as long as short
BloFin PNUT-USDTlong	+0.0020%	4h	0.05603	long leg	$288K	$26K	50x
Bybit PNUTUSDT	+0.0038%	4h	0.05619	+0.286%	$2.6M	$1.5M	50x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05621	+0.322%	$3K	$19K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05624	+0.375%	$5.4M	$10.9M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05620	+0.303%	$899K	$1.2M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05624	+0.375%	$1.1M	$433K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05619	+0.286%	$781K	$1.2M	50x	as long as short
BingX PNUT-USDC	+0.0100%	4h	0.05619	+0.286%	—	$6.5M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05617	+0.252%	$32	$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	0.05619	+0.281%	$7K	$79K	5x	as long as short
KuCoin PNUTUSDTM	+0.0172%	4h	0.05630	+0.482%	$1.1M	$112K	30x	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0284%	1h	0.05625	+0.393%	$4	—	10x	as long as short
Hyperliquid PNUT	+0.0893%	1h	0.05638	+0.625%	$1.6M	$509K	3x	as long as short
Kraken Futures PF_PNUTUSD	+0.0940%	1h	0.05639	+0.634%	$24K	$13K	10x	as long as short
Coinbase International PNUT-PERP-INTXshort	+0.1472%	1h	0.05735	+2.356%	$364K	$40K	50x