Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0176%/8h= +19.3% APRnext payment +$0.22 per $10,000 · paid last 24h —

Price spread now: Lighter against Aevo−0.051%7-day average — · you buy dearer than you sell

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

Long on Aevo Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.051% cheaper against Aevo than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 23 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo NBIS-PERP	231.14	0.0104	pay 0.0013% / 1h	18m 24s	—	—	10x
Short	Lighter NBIS	231.02	0.0280	get 0.0035% / 1h	18m 24s	$944K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aevo. 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 AevobpFee LighterbpOrdersPrice spread, now −0.051%Rate

Funding earned: $36.96
Price spread: −0.051% → 0.000%: −$5.12
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Lighter: 0 bp × 2 orders: $0
Net: $15.84
Costs to cover: 0.160%
Break-even: 4.0 days

Slippage unknown: Aevo: no order-book sample; Lighter: live order book, 4 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 Aevo no order-book sample	—	—	—	—	—
Sell Lighter live order book, 4 min ago	0.43 bp	0.6 bp −$1	15.7 bp −$157	139.1 bp −$13.9K	doesn't fit

Aevo: 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.

NBIS on 31 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
Bitget NBISUSDT	−0.0400%	8h	231.29	+0.066%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.20	+0.028%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.24	+0.045%	$144K	$879K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.30	+0.070%	$18.8M	$87.9M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.26	+0.053%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.18	+0.018%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.28	+0.061%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.98	−0.067%	$2.8M	$589K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.02	−0.051%	$4K	$115K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.24	+0.044%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.10	−0.017%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.26	+0.053%	$1.6M	$970K	10x	as long as short
BloFin NBIS-USDT	+0.0019%	8h	231.17	+0.014%	$205K	$212K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.89	−0.107%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.21	+0.031%	$1.5M	$3.7M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.96	−0.077%	—	$223K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.06	−0.034%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.20	+0.027%	$97	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.22	+0.035%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.324%	$353K	$805K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.90	−0.103%	$475K	$24K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.19	+0.022%	$2K	$3K	10x	as long as short
Aevo NBIS-PERPlong	+0.0104%	1h	231.14	long leg	—	—	10x
tradeXYZ xyz:NBIS	+0.0104%	1h	230.97	−0.073%	$54.1M	$21.2M	10x	as long as short
Nado NBIS-PERP	+0.0173%	1h	230.87	−0.117%	$38K	$116K	3x	as long as short
Lighter NBISshort	+0.0280%	1h	231.02	−0.051%	$944K	$4.1M	10x
Phoenix NBIS	+0.0312%	1h	230.93	−0.090%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0406%	1h	230.92	−0.094%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.10	−0.016%	$23K	$15K	20x	as long as short
edgeX NBISUSDC	+0.0776%	4h	230.81	−0.143%	$37K	$227K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0876%	1h	231.12	−0.008%	$34K	$49K	10x	as long as short