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: Gate against MEXC−0.018%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$830.826% of the position

Long on MEXC Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.018%, 7d avg +0.038%

Together, before fees+0.062%+$6 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: Gate is 0.056% cheaper against MEXC than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.038%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC PNUT_USDT	0.05659	0.0100	pay 0.0050% / 4h	2h 07m	$1.2M	$398K	100x
Short	Gate PNUT_USDT	0.05658	0.0100	get 0.0050% / 4h	2h 07m	$895K	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.018%Rate

Funding earned: $0
Price spread: −0.018% → +0.038%: −$5.61
Slippage, 4 orders: −$63.6
Fee MEXC: 2 bp × 2 orders: −$4
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$88.21
Costs to cover: 0.826%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Gate: live order book, 5 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, 4 min ago	2.65 bp	7.0 bp −$7	19.3 bp −$193	102.2 bp −$10.2K	251.7 bp −$125.8K
Sell Gate live order book, 5 min ago	5.30 bp	30.7 bp −$31	doesn't fit	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	−0.018%	$4	—	10x	as long as short
OKX PNUT-USDT-SWAP	+0.0060%	4h	0.05653	−0.106%	$1.7M	$5.8M	20x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05657	−0.031%	$3K	$18K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05657	−0.031%	$5.3M	$10.0M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05654	−0.088%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDTshort	+0.0100%	4h	0.05658	−0.018%	$895K	$1.1M	50x
MEXC PNUT_USDTlong	+0.0100%	4h	0.05659	long leg	$1.2M	$398K	100x
Bitget PNUTUSDT	+0.0100%	4h	0.05654	−0.088%	$765K	$1.1M	50x	as long as short
BingX PNUT-USDC	+0.0100%	4h	0.05657	−0.035%	—	$6.5M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05653	−0.115%	$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	0.05656	−0.053%	$8K	$143K	5x	as long as short
KuCoin PNUTUSDTM	+0.0244%	4h	0.05652	−0.124%	$1.1M	$131K	30x	as long as short
Kraken Futures PF_PNUTUSD	+0.0738%	1h	0.05662	+0.052%	$24K	$14K	10x	as long as short
Hyperliquid PNUT	+0.0809%	1h	0.05672	+0.230%	$1.6M	$477K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1072%	1h	0.05662	+0.053%	$359K	$54K	50x	as long as short