Funding arb · Price arb /

PNUT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1067%/8h= −116.9% APRpaid last 24h −0.422%

Price spread now: Aster against Kraken Futures+0.058%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Aster is 0.058% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.058% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$32 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_PNUTUSD	0.05719	0.1167	pay 0.0146% / 1h	31m 32s	$24K	$14K	10x
Short	Aster PNUTUSDT	0.05722	0.0100	get 0.0050% / 4h	3h 31m	$3K	$19K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$224.17
Price spread: +0.058% → 0.000%: $5.8
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$236.38
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Aster: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Aster no order-book sample	—	—	—	—	—

Kraken Futures and Aster: 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 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	+0.0095%	4h	0.05737	+0.320%	$1.7M	$6.4M	20x	as long as short
Aster PNUTUSDTshort	+0.0100%	4h	0.05722	+0.058%	$3K	$19K	5x
Binance PNUTUSDT	+0.0100%	4h	0.05738	+0.339%	$5.6M	$10.6M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05730	+0.198%	$2.7M	$1.4M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05716	−0.047%	$913K	$1.2M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05740	+0.372%	$1.2M	$414K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05733	+0.250%	$762K	$1.1M	50x	as long as short
BingX PNUT-USDT	+0.0100%	4h	0.05720	+0.023%	—	$6.6M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05727	+0.154%	$33	$2K	—	as long as short
Extended PNUT-USD	+0.0104%	1h	0.05724	+0.099%	$6K	$140K	5x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin PNUT-USDT	+0.0123%	4h	0.05723	+0.075%	$295K	$27K	50x	as long as short
KuCoin PNUTUSDTM	+0.0202%	4h	0.05722	+0.058%	$1.1M	$112K	30x	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0626%	1h	0.05713	−0.100%	$4	—	10x	as long as short
Hyperliquid PNUT	+0.0859%	1h	0.05757	+0.670%	$1.7M	$502K	3x	as long as short
Kraken Futures PF_PNUTUSDlong	+0.1167%	1h	0.05719	long leg	$24K	$14K	10x
Coinbase International PNUT-PERP-INTX	+0.1240%	1h	0.05741	+0.390%	$364K	$42K	50x	as long as short