Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h +0.042%

Price spread now: Lighter against Aster−0.050%7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs+$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.415%+$41 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.050%, 7d avg +0.056%

Together, before fees+0.490%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$49 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.106% cheaper against Aster than usual: you would sell low and buy high (spread −0.050% now, against its 7-day average of +0.056%). If the spread goes back, that is −$11 on $10k: about 2.2 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NBISUSDT	229.35	0	get 0.0000% / 8h	7h 45m	$83K	$313K	50x
Short	Lighter NBIS	229.24	0.0160	get 0.0020% / 1h	45m 38s	$916K	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.050%Rate

Funding earned: $33.6
Price spread: −0.050% → +0.056%: −$10.6
Slippage, 4 orders: −$20.85
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$5.85
Costs to cover: 0.289%
Break-even: 8.2 days

Slippage from Aster: live order book, 51 min ago; Lighter: live order book, 7 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 Aster live order book, 51 min ago	3.24 bp	15.3 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.44 bp	0.6 bp −$1	2.2 bp −$22	69.8 bp −$6,985	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	−0.0309%	8h	229.34	−0.006%	$2.3M	$4.5M	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	−0.0186%	1h	229.04	−0.137%	$34K	$49K	10x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	229.39	+0.016%	$355K	$806K	10x	as long as short
Aster NBISUSDTlong	0.0000%	8h	229.35	long leg	$83K	$313K	50x
Extended NBIS-USD	0.0000%	1h	229.23	−0.053%	$147K	$880K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	229.29	−0.028%	$18.6M	$88.4M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	229.26	−0.041%	$4.9M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	229.28	−0.032%	$3.2M	$15.9M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	229.27	−0.036%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	229.08	−0.121%	$2.8M	$576K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NBIS_USDT_Perp	0.0000%	8h	229.72	+0.162%	$4K	$114K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	229.20	−0.067%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	229.16	−0.084%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	229.17	−0.080%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0018%	8h	229.44	+0.038%	$203K	$213K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	229.29	−0.028%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	229.03	−0.141%	—	$224K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.26	−0.041%	$136K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	229.16	−0.084%	$60	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	229.44	+0.038%	$148K	$539K	10x	as long as short
QFEX NBIS-USD	+0.0064%	1h	229.31	−0.019%	$1.5M	$3.7M	10x	as long as short
Nado NBIS-PERP	+0.0079%	1h	229.35	0.000%	$38K	$116K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0081%	1h	229.14	−0.093%	$53.5M	$21.4M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	229.10	−0.111%	$472K	$48K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	229.27	−0.036%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	229.19	−0.070%	—	—	10x	as long as short
Lighter NBISshort	+0.0160%	1h	229.24	−0.050%	$916K	$4.0M	10x
Phoenix NBIS	+0.0277%	1h	229.64	+0.125%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0384%	1h	229.39	+0.016%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0440%	4h	229.75	+0.172%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0681%	1h	229.19	−0.072%	$22K	$16K	20x	as long as short