Funding arb · Price arb /

PNUT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Extended+0.231%7-day average — · you sell dearer than you buy

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

Long on Extended 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 airdropExtended: Active · Variational 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 0.231% dearer against Extended than usual: you sell high and buy low, +$23 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	Extended PNUT-USD	0.05639	0.0104	pay 0.0013% / 1h	8m 50s	$8K	$143K	5x
Short	Variational Omni PNUT	0.05653	0.0100	get 0.0050% / 4h	2h 08m	$32	$3K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.231%Rate

Funding earned: −$0.84
Price spread: +0.231% → 0.000%: $23.1
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $17.26
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: live order book, 57 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 Extended live order book, 57 min ago	2.21 bp	44.8 bp −$45	256.7 bp −$2,567	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	0.05642	+0.045%	$4	—	10x	as long as short
OKX PNUT-USDT-SWAP	+0.0053%	4h	0.05641	+0.027%	$1.7M	$5.8M	20x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05641	+0.025%	$3K	$18K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05641	+0.030%	$5.3M	$10.0M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05641	+0.027%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05645	+0.098%	$893K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05640	+0.009%	$1.2M	$397K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05639	−0.009%	$764K	$1.1M	50x	as long as short
BingX PNUT-USDC	+0.0100%	4h	0.05647	+0.133%	—	$6.5M	—	as long as short
Variational Omni PNUTshort	+0.0100%	4h	0.05653	+0.231%	$32	$3K	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PNUT-USDlong	+0.0104%	1h	0.05639	long leg	$8K	$143K	5x
KuCoin PNUTUSDTM	+0.0244%	4h	0.05642	+0.045%	$1.1M	$131K	30x	as long as short
Kraken Futures PF_PNUTUSD	+0.0740%	1h	0.05643	+0.071%	$24K	$14K	10x	as long as short
Hyperliquid PNUT	+0.0805%	1h	0.05654	+0.257%	$1.6M	$477K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1072%	1h	0.05658	+0.328%	$359K	$54K	50x	as long as short