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: Gate against Coinbase International+0.088%7-day average −0.575% · you sell dearer than you buy

Net, funding: paid 7d − costs−$277as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$1131.127% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.638%−$164 on $10k

Price spread, last 4 days (all we have)−0.473%−$47 · spread now +0.088%, 7d avg −0.575%

Together, before fees−2.111%−$211 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.663% dearer against Coinbase International than usual: you sell high and buy low (spread +0.088% now, against its 7-day average of −0.575%): +$66 on $10k if it goes back. Holding the pair costs −$35 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International PNUT-PERP-INTX	0.05660	0.1256	pay 0.0157% / 1h	19m 47s	$359K	$53K	50x
Short	Gate PNUT_USDT	0.05665	0.0100	get 0.0050% / 4h	1h 19m	$902K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Coinbase InternationalbpFee GatebpOrdersPrice spread, now +0.088%Rate

Funding earned: −$242.76
Price spread: +0.088% → −0.575%: $66.29
Slippage, 4 orders: −$87.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$289.19
Costs to cover: 1.127%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 43 min ago; Gate: live order book, 2 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 Coinbase International live order book, 43 min ago	14.12 bp	19.1 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	7.07 bp	29.9 bp −$30	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	+0.088%	$1.7M	$5.8M	20x	as long as short
BloFin PNUT-USDT	+0.0083%	4h	0.05651	−0.159%	$286K	$26K	50x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05662	+0.039%	$3K	$18K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05664	+0.065%	$5.3M	$10.0M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05663	+0.053%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDTshort	+0.0100%	4h	0.05665	+0.088%	$902K	$1.1M	50x
MEXC PNUT_USDT	+0.0100%	4h	0.05669	+0.159%	$1.2M	$402K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05661	+0.018%	$769K	$1.1M	50x	as long as short
BingX PNUT-USDT	+0.0100%	4h	0.05664	+0.071%	—	$6.6M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05662	+0.043%	$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	+0.060%	$6K	$139K	5x	as long as short
KuCoin PNUTUSDTM	+0.0132%	4h	0.05671	+0.194%	$1.1M	$122K	30x	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0280%	1h	0.05667	+0.124%	$4	—	10x	as long as short
Kraken Futures PF_PNUTUSD	+0.0377%	1h	0.05673	+0.222%	$24K	$14K	10x	as long as short
Hyperliquid PNUT	+0.0780%	1h	0.05679	+0.336%	$1.6M	$480K	3x	as long as short
Coinbase International PNUT-PERP-INTXlong	+0.1256%	1h	0.05660	long leg	$359K	$53K	50x