Funding you earn now, next payment 02:00 UTC−0.0708%/8h= −77.5% APRpaid last 24h −0.096%
Price spread now: Binance against Hyperliquid−0.216%7-day average −0.159% · you buy dearer than you sell
Net, funding: paid 7d − costs−$79as in the Funding arb table
Net, price: spread back to 7d avg − costs−$72as in the Price arb table
costs, in and out, $10k−$660.662% of the position
Funding, last 7 days−0.125%−$12 on $10k
+Price spread, last 7 days+0.047%+$5 · spread now −0.216%, 7d avg −0.159%
=Together, before fees−0.078%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Binance is 0.057% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.159%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.125% in total (about -6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid PNUT | 0.05674 | 0.0808 | pay 0.0101% / 1h | 12m 14s | $1.6M | $484K | 3x |
| Short | Binance PNUTUSDT | 0.05662 | 0.0100 | get 0.0050% / 4h | 2h 12m | $5.3M | $10.0M | 50x |
Hyperliquid PNUT
Binance PNUTUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$148.69
- Price spread: −0.216% → −0.159%
- −$5.72
- Slippage, 4 orders
- −$47.18
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$220.59
- Costs to cover
- 0.662%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 8 min ago; Binance: live order book, 13 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 Hyperliquid live order book, 8 min ago | 0.88 bp | 15.5 bp −$15 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 13 min ago | 0.88 bp | 15.4 bp −$15 | 46.9 bp −$469 | doesn't fit | doesn't fit |
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 | 0.05664 | −0.176% | $4 | — | 10x | as long as short |
| OKX PNUT-USDT-SWAP | +0.0043% | 4h | 0.05661 | −0.229% | $1.7M | $5.8M | 20x | as long as short |
| Aster PNUTUSDT | +0.0100% | 4h | 0.05656 | −0.317% | $3K | $18K | 5x | as long as short |
| Binance PNUTUSDTshort | +0.0100% | 4h | 0.05662 | −0.216% | $5.3M | $10.0M | 50x | |
| Bybit PNUTUSDT | +0.0100% | 4h | 0.05657 | −0.300% | $2.6M | $1.3M | 50x | as long as short |
| Gate PNUT_USDT | +0.0100% | 4h | 0.05659 | −0.264% | $895K | $1.1M | 50x | as long as short |
| MEXC PNUT_USDT | +0.0100% | 4h | 0.05660 | −0.247% | $1.2M | $397K | 100x | as long as short |
| Bitget PNUTUSDT | +0.0100% | 4h | 0.05657 | −0.300% | $765K | $1.1M | 50x | as long as short |
| BingX PNUT-USDT | +0.0100% | 4h | 0.05654 | −0.352% | — | $6.6M | — | as long as short |
| Variational Omni PNUT | +0.0100% | 4h | 0.05644 | −0.530% | $32 | $3K | — | as long as short |
Deribit PNUT_USDC-PERPETUAL
OKX PNUT-USDT-SWAP
Aster PNUTUSDT
Bybit PNUTUSDT
Gate PNUT_USDT
MEXC PNUT_USDT
Bitget PNUTUSDT
BingX PNUT-USDT
Variational Omni PNUTShow all 15 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended PNUT-USD | +0.0104% | 1h | 0.05659 | −0.259% | $8K | $143K | 5x | as long as short |
| KuCoin PNUTUSDTM | +0.0232% | 4h | 0.05661 | −0.229% | $1.1M | $131K | 30x | as long as short |
| Kraken Futures PF_PNUTUSD | +0.0736% | 1h | 0.05677 | +0.054% | $24K | $14K | 10x | as long as short |
| Hyperliquid PNUTlong | +0.0808% | 1h | 0.05674 | long leg | $1.6M | $484K | 3x | |
| Coinbase International PNUT-PERP-INTX | +0.1072% | 1h | 0.05682 | +0.141% | $360K | $55K | 50x | as long as short |
Extended PNUT-USD
KuCoin PNUTUSDTM
Kraken Futures PF_PNUTUSD
Coinbase International PNUT-PERP-INTX