Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Binance against MEXC−0.029%7-day average +0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on MEXC Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.195%+$20 · spread now −0.029%, 7d avg +0.018%

Together, before fees+0.196%+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Binance is 0.047% cheaper against MEXC than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PNUT_USDT	0.05656	0.0100	pay 0.0050% / 4h	2h 05m	$1.2M	$398K	100x
Short	Binance PNUTUSDT	0.05654	0.0100	get 0.0050% / 4h	2h 05m	$5.3M	$10.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against MEXC. 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 MEXCbpFee BinancebpOrdersPrice spread, now −0.029%Rate

Funding earned: $0
Price spread: −0.029% → +0.018%: −$4.73
Slippage, 4 orders: −$33.32
Fee MEXC: 2 bp × 2 orders: −$4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$52.06
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from MEXC: live order book, just now; Binance: live order book, 4 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 MEXC live order book, just now	0.88 bp	7.5 bp −$8	20.0 bp −$200	112.8 bp −$11.3K	262.7 bp −$131.3K
Sell Binance live order book, 4 min ago	0.89 bp	17.3 bp −$17	54.2 bp −$542	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	0.05658	+0.035%	$4	—	10x	as long as short
OKX PNUT-USDT-SWAP	+0.0063%	4h	0.05650	−0.106%	$1.7M	$5.8M	20x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05658	+0.034%	$3K	$18K	5x	as long as short
Binance PNUTUSDTshort	+0.0100%	4h	0.05654	−0.029%	$5.3M	$10.0M	50x
Bybit PNUTUSDT	+0.0100%	4h	0.05652	−0.071%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05657	+0.018%	$895K	$1.1M	50x	as long as short
MEXC PNUT_USDTlong	+0.0100%	4h	0.05656	long leg	$1.2M	$398K	100x
Bitget PNUTUSDT	+0.0100%	4h	0.05652	−0.071%	$765K	$1.1M	50x	as long as short
BingX PNUT-USDC	+0.0100%	4h	0.05656	0.000%	—	$6.5M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05653	−0.053%	$32	$3K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PNUT-USD	+0.0104%	1h	0.05657	+0.009%	$8K	$143K	5x	as long as short
KuCoin PNUTUSDTM	+0.0250%	4h	0.05661	+0.088%	$1.1M	$131K	30x	as long as short
Kraken Futures PF_PNUTUSD	+0.0738%	1h	0.05662	+0.099%	$24K	$14K	10x	as long as short
Hyperliquid PNUT	+0.0808%	1h	0.05668	+0.212%	$1.6M	$477K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1072%	1h	0.05689	+0.583%	$361K	$54K	50x	as long as short