NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0303%/8h= +33.2% APRnext payment +$0.38 per $10,000 · paid last 24h +0.077%

Price spread now: Phoenix against Arcus+0.098%109s7-day average +0.121% · you sell dearer than you buy

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−$400.402% of the position

Long on Arcus Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.011%−$1 on $10k

Price spread, last 3 days (all we have)+0.037%+$4 · spread now +0.098%, 7d avg +0.121%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.022% cheaper against Arcus than usual: you would sell low and buy high (spread +0.098% now, against its 7-day average of +0.121%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day). The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.011% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.38 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NBIS-USD	233.96	0.0040	pay 0.0005% / 1h	19m 42s	$44K	$133K	5x
Short	Phoenix NBIS	234.19	0.0343	get 0.0043% / 1h	19m 42s	$7K	$185K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.098%Rate

Funding earned: $63.64
Price spread: +0.098% → +0.121%: −$2.22
Slippage, 4 orders: −$28.69
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $21.22
Costs to cover: 0.402%
Break-even: 4.7 days

Slippage from Arcus: live order book, 63 min ago; Phoenix: live order book, 57 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, 63 min ago	5.14 bp	7.4 bp −$7	11.5 bp −$115	doesn't fit	doesn't fit
Sell Phoenix live order book, 57 min ago	3.85 bp	12.7 bp −$13	26.9 bp −$269	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
Bybit NBISUSDT	0.0000%	8h	233.87	−0.038%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.90	−0.026%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.91	−0.021%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.93	−0.013%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.05	+0.038%	$1K	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.05	+0.038%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.01	+0.021%	$1.6M	$968K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	233.94	−0.009%	$1.5M	$5.1M	10x	as long as short
Variational Omni NBIS	+0.0039%	8h	234.04	+0.032%	$2.9M	$825K	—	as long as short
Arcus NBIS-USDlong	+0.0040%	1h	233.96	long leg	$44K	$133K	5x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	234.08	+0.051%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.97	+0.004%	$148K	$657K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.97	+0.004%	$19	$20K	10x	as long as short
BloFin NBIS-USDT	+0.0054%	8h	234.06	+0.043%	$206K	$214K	20x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0072%	1h	232.99	−0.415%	$356K	$697K	10x	as long as short
Aster NBISUSDT	+0.0080%	8h	233.83	−0.056%	$79K	$304K	50x	as long as short
Extended NBIS-USD	+0.0080%	1h	233.95	−0.005%	$142K	$697K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0084%	1h	233.92	−0.017%	$174K	$499K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0087%	8h	234.09	+0.054%	$5K	$144K	10x	as long as short
Binance NBISUSDT	+0.0090%	8h	233.97	+0.004%	$19.4M	$86.9M	25x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.67	−0.124%	$481K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.93	−0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.94	−0.007%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0196%	1h	234.01	+0.021%	$54.6M	$23.5M	10x	as long as short
Lighter NBIS	+0.0224%	1h	234.02	+0.026%	$935K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0246%	1h	233.80	−0.070%	$28K	$63K	3x	as long as short
Entropy io:NBIS	+0.0310%	1h	233.97	+0.004%	$10.2M	$3.3M	10x	as long as short
Phoenix NBISshort	+0.0343%	1h	234.19	+0.098%	$7K	$185K	10x
Kraken Futures PF_NBISUSD	+0.0346%	1h	233.84	−0.051%	$24K	$13K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0349%	1h	233.91	−0.021%	$35K	$47K	10x	as long as short
edgeX NBISUSDC	+0.0486%	4h	234.09	+0.058%	$37K	$234K	10x	as long as short