Funding arb · Price arb /

PNUT

all PNUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1009%/8h= +110.4% APRpaid last 24h +0.333%

Price spread now: Coinbase International against OKX+0.547%7-day average +0.673% · you sell dearer than you buy

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

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+1.685%+$168 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now +0.547%, 7d avg +0.673%

Together, before fees+1.701%+$170 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.127% cheaper against OKX than usual: you would sell low and buy high (spread +0.547% now, against its 7-day average of +0.673%). If the spread goes back, that is −$13 on $10k: about 10 hours of funding at the current rate (+$30 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX PNUT-USDT-SWAP	0.05672	0.0063	pay 0.0032% / 4h	2h 29m	$1.7M	$5.8M	20x
Short	Coinbase International PNUT-PERP-INTX	0.05703	0.1072	get 0.0134% / 1h	29m 35s	$362K	$55K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.547%Rate

Funding earned: $211.81
Price spread: +0.547% → +0.673%: −$12.66
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $179.14
Costs to cover: 0.200%
Break-even: 1.1 days

Slippage unknown: OKX: live order book, 3 min ago; Coinbase International: live order book, 38 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 OKX live order book, 3 min ago	1.76 bp	22.4 bp −$22	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 38 min ago	24.67 bp	605.8 bp −$606	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
OKX PNUT-USDT-SWAPlong	+0.0063%	4h	0.05672	long leg	$1.7M	$5.8M	20x
Aster PNUTUSDT	+0.0100%	4h	0.05676	+0.076%	$3K	$18K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05679	+0.119%	$5.4M	$10.0M	50x	as long as short
Bybit PNUTUSDT	+0.0100%	4h	0.05676	+0.071%	$2.6M	$1.3M	50x	as long as short
Gate PNUT_USDT	+0.0100%	4h	0.05681	+0.159%	$899K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05679	+0.123%	$1.2M	$392K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05678	+0.106%	$770K	$1.1M	50x	as long as short
BingX PNUT-USDT	+0.0100%	4h	0.05681	+0.159%	—	$6.6M	—	as long as short
Variational Omni PNUT	+0.0100%	4h	0.05664	−0.139%	$32	$3K	—	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0103%	1h	0.05674	+0.035%	$4	—	10x	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	0.05678	+0.115%	$8K	$143K	5x	as long as short
KuCoin PNUTUSDTM	+0.0306%	4h	0.05683	+0.194%	$1.1M	$131K	30x	as long as short
Kraken Futures PF_PNUTUSD	+0.0735%	1h	0.05681	+0.166%	$24K	$13K	10x	as long as short
Hyperliquid PNUT	+0.0811%	1h	0.05691	+0.335%	$1.6M	$482K	3x	as long as short
Coinbase International PNUT-PERP-INTXshort	+0.1072%	1h	0.05703	+0.547%	$362K	$55K	50x