Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0150%/8h= +16.5% APRpaid last 24h −0.462%

Price spread now: MEXC against Kraken Futures+0.034%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 MEXC

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—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and MEXC is 0.034% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread 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	Kraken Futures PF_PNUTUSD	0.05638	−0.0050	get 0.0006% / 1h	51m 22s	$24K	$13K	10x
Short	MEXC PNUT_USDT	0.05640	0.0100	get 0.0050% / 4h	51m 22s	$1.1M	$446K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.034%Rate

Funding earned: $31.57
Price spread: +0.034% → 0.000%: $3.41
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $20.98
Costs to cover: 0.140%
Break-even: 2.3 days

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 3 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	1.77 bp	7.6 bp −$8	19.0 bp −$190	106.9 bp −$10.7K	261.2 bp −$130.6K

Kraken Futures: 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 exchanges

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
Kraken Futures PF_PNUTUSDlong	−0.0050%	1h	0.05638	long leg	$24K	$13K	10x
OKX PNUT-USDT-SWAP	−0.0028%	4h	0.05632	−0.108%	$1.7M	$6.7M	20x	as long as short
BloFin PNUT-USDT	−0.0007%	4h	0.05653	+0.265%	$293K	$26K	50x	as long as short
Bybit PNUTUSDT	−0.0007%	4h	0.05636	−0.037%	$2.7M	$1.8M	50x	as long as short
Variational Omni PNUT	+0.0040%	4h	0.05645	+0.123%	$107	$4K	—	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05641	+0.049%	$3K	$26K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05641	+0.050%	$5.5M	$11.9M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05645	+0.123%	$922K	$1.3M	50x	as long as short
MEXC PNUT_USDTshort	+0.0100%	4h	0.05640	+0.034%	$1.1M	$446K	100x
KuCoin PNUTUSDTM	+0.0100%	4h	0.05645	+0.123%	$1.1M	$144K	30x	as long as short

Show all 16 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget PNUTUSDT	+0.0100%	4h	0.05638	−0.001%	$770K	$1.2M	50x	as long as short
BingX PNUT-USDC	+0.0100%	4h	0.05638	−0.001%	—	$6.5M	—	as long as short
Extended PNUT-USD	+0.0104%	1h	0.05640	+0.034%	$7K	$240K	5x	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0105%	1h	0.05639	+0.016%	$99	$100	10x	as long as short
Hyperliquid PNUT	+0.0536%	1h	0.05653	+0.265%	$1.6M	$550K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1536%	1h	0.05716	+1.382%	$363K	$54K	50x	as long as short