Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.031%

Price spread now: OKX against Arcus−0.013%47s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.356% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.137%−$14 on $10k

Price spread, last 4 days (all we have)+0.363%+$36 · spread now −0.013%, 7d avg +0.013%

Together, before fees+0.226%+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and OKX is 0.026% cheaper against Arcus than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.013%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NBIS-USD	228.81	0.0040	pay 0.0005% / 1h	21m 54s	$41K	$124K	5x
Short	OKX NBIS-USDT-SWAP	228.78	0	get 0.0000% / 8h	7h 21m	$3.2M	$16.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Arcus. 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 ArcusbpFee OKXbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$8.46
Price spread: −0.013% → +0.013%: −$2.62
Slippage, 4 orders: −$21.08
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$46.66
Costs to cover: 0.356%
Break-even: never at this rate

Slippage from Arcus: live order book, 11 min ago; OKX: live order book, 1 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 Arcus live order book, 11 min ago	3.30 bp	5.8 bp −$6	10.6 bp −$106	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.44 bp	9.2 bp −$9	22.8 bp −$228	doesn't fit	doesn't fit

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	−0.0210%	8h	228.78	−0.013%	$2.3M	$4.6M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	226.87	−0.848%	$352K	$801K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	228.17	−0.281%	$73K	$320K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	228.72	−0.040%	$143K	$859K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	228.81	+0.002%	$18.4M	$89.7M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	228.75	−0.026%	$4.8M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	228.78	−0.013%	$3.2M	$16.1M	25x
Gate NBIS_USDT	0.0000%	8h	228.69	−0.052%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	227.33	−0.649%	$2.8M	$598K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	227.62	−0.520%	$4K	$113K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	228.86	+0.022%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	227.64	−0.511%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	228.66	−0.066%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0001%	8h	228.35	−0.201%	$202K	$212K	20x	as long as short
Arcus NBIS-USDlong	+0.0040%	1h	228.81	long leg	$41K	$124K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	228.47	−0.149%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	228.50	−0.135%	$136K	$466K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	228.46	−0.153%	$146K	$532K	10x	as long as short
Nado NBIS-PERP	+0.0062%	1h	228.38	−0.187%	$38K	$116K	3x	as long as short
QFEX NBIS-USD	+0.0064%	1h	228.74	−0.031%	$1.5M	$3.7M	10x	as long as short
SoDEX NBIS-USD	+0.0086%	1h	228.57	−0.105%	$69	$20K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0100%	1h	228.52	−0.127%	$53.3M	$21.5M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	228.35	−0.201%	$470K	$74K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	228.46	−0.153%	$2K	$3K	10x	as long as short
Lighter NBIS	+0.0104%	1h	228.50	−0.135%	$909K	$4.1M	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	228.43	−0.165%	—	—	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0144%	1h	228.47	−0.149%	$34K	$49K	10x	as long as short
edgeX NBISUSDC	+0.0199%	4h	227.59	−0.535%	$37K	$226K	10x	as long as short
Phoenix NBIS	+0.0277%	1h	227.46	−0.590%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0300%	1h	228.25	−0.245%	$9.9M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0683%	1h	228.56	−0.111%	$22K	$16K	20x	as long as short