Funding arb · Price arb /

PNUT

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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: Bybit against Variational Omni+0.010%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni PNUT	0.05662	0.0100	pay 0.0050% / 4h	1h 20m	$32	$3K	—
Short	Bybit PNUTUSDT	0.05663	0.0100	get 0.0050% / 4h	1h 20m	$2.6M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. 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 Variational OmnibpFee BybitbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → 0.000%: $0.97
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$10.03
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Bybit: live order book, 2 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	3.54 bp	32.1 bp −$32	364.3 bp −$3,643	doesn't fit	doesn't fit

Variational Omni: 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	−0.0024%	4h	0.05664	+0.027%	$1.7M	$5.8M	20x	as long as short
BloFin PNUT-USDT	+0.0083%	4h	0.05651	−0.202%	$286K	$26K	50x	as long as short
Aster PNUTUSDT	+0.0100%	4h	0.05662	−0.005%	$3K	$18K	5x	as long as short
Binance PNUTUSDT	+0.0100%	4h	0.05663	+0.004%	$5.3M	$10.0M	50x	as long as short
Bybit PNUTUSDTshort	+0.0100%	4h	0.05663	+0.010%	$2.6M	$1.3M	50x
Gate PNUT_USDT	+0.0100%	4h	0.05671	+0.151%	$903K	$1.1M	50x	as long as short
MEXC PNUT_USDT	+0.0100%	4h	0.05662	−0.008%	$1.2M	$402K	100x	as long as short
Bitget PNUTUSDT	+0.0100%	4h	0.05661	−0.026%	$769K	$1.1M	50x	as long as short
BingX PNUT-USDT	+0.0100%	4h	0.05664	+0.027%	—	$6.6M	—	as long as short
Variational Omni PNUTlong	+0.0100%	4h	0.05662	long leg	$32	$3K	—

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended PNUT-USD	+0.0104%	1h	0.05662	−0.010%	$6K	$139K	5x	as long as short
KuCoin PNUTUSDTM	+0.0132%	4h	0.05670	+0.133%	$1.1M	$122K	30x	as long as short
Deribit PNUT_USDC-PERPETUAL	+0.0279%	1h	0.05669	+0.116%	$4	—	10x	as long as short
Kraken Futures PF_PNUTUSD	+0.0377%	1h	0.05672	+0.168%	$24K	$14K	10x	as long as short
Hyperliquid PNUT	+0.0777%	1h	0.05679	+0.292%	$1.6M	$480K	3x	as long as short
Coinbase International PNUT-PERP-INTX	+0.1256%	1h	0.05660	−0.043%	$359K	$53K	50x	as long as short