Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0225%/8h= +24.6% APRpaid last 24h +0.006%

Price spread now: Arcus against Binance+0.002%7-day average −0.044% · 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−$28as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Binance Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.069%+$7 on $10k

Price spread, last 4 days (all we have)−0.913%−$91 · spread now +0.002%, 7d avg −0.044%

Together, before fees−0.844%−$84 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Arcus is 0.045% dearer against Binance than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.044%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.069% in total (about 6.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	233.83	0.0188	pay 0.0188% / 8h	5h 28m	$20.6M	$91.4M	25x
Short	Arcus NBIS-USD	233.83	0.0413	get 0.0052% / 1h	28m 35s	$42K	$119K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Binance. 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 BinancebpFee ArcusbpOrdersPrice spread, now +0.002%Rate

Funding earned: $47.24
Price spread: +0.002% → −0.044%: $4.53
Slippage, 4 orders: −$17.7
Fee Binance: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $19.57
Costs to cover: 0.322%
Break-even: 4.1 days

Slippage from Binance: live order book, 7 min ago; Arcus: live order book, 17 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 Binance live order book, 7 min ago	0.21 bp	9.9 bp −$10	27.2 bp −$272	90.7 bp −$9,074	doesn't fit
Sell Arcus live order book, 17 min ago	3.42 bp	6.5 bp −$6	10.6 bp −$106	doesn't fit	doesn't fit

NBIS on 31 exchanges

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 NBIS-USDT-SWAP	0.0000%	8h	233.79	−0.016%	$3.3M	$16.6M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.78	−0.020%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.81	−0.007%	$2.3M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.03	+0.087%	$1K	$1.4M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.09	+0.113%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.87	+0.019%	$1.6M	$970K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.04	+0.091%	—	$250K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.31	−0.221%	$152K	$531K	10x	as long as short
QFEX NBIS-USD	+0.0058%	1h	233.85	+0.010%	$1.6M	$3.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0092%	1h	233.89	+0.027%	$35K	$49K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NBISUSDTM	+0.0100%	8h	233.58	−0.105%	$474K	$203K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.87	+0.019%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.87	+0.019%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	234.06	+0.100%	$383K	$875K	10x	as long as short
Variational Omni NBIS	+0.0117%	8h	233.61	−0.095%	$2.9M	$637K	—	as long as short
Bybit NBISUSDT	+0.0117%	8h	233.89	+0.027%	$5.4M	$7.0M	50x	as long as short
Polymarket Perps NBIS-USD	+0.0131%	1h	233.85	+0.010%	$133K	$476K	10x	as long as short
Aster NBISUSDT	+0.0152%	8h	234.02	+0.083%	$81K	$314K	50x	as long as short
Extended NBIS-USD	+0.0184%	1h	233.76	−0.030%	$146K	$847K	10x	as long as short
Binance NBISUSDTlong	+0.0188%	8h	233.83	long leg	$20.6M	$91.4M	25x
Nado NBIS-PERP	+0.0194%	1h	233.70	−0.055%	$38K	$85K	3x	as long as short
BloFin NBIS-USDT	+0.0209%	8h	233.93	+0.044%	$209K	$217K	20x	as long as short
SoDEX NBIS-USD	+0.0236%	1h	233.94	+0.049%	$84	$19K	10x	as long as short
edgeX NBISUSDC	+0.0298%	4h	233.63	−0.086%	$31K	$234K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0370%	1h	233.63	−0.085%	$22K	$11K	20x	as long as short
Phoenix NBIS	+0.0377%	1h	234.06	+0.100%	$7K	$127K	10x	as long as short
Lighter NBIS	+0.0400%	1h	233.97	+0.061%	$949K	$3.8M	10x	as long as short
Arcus NBIS-USDshort	+0.0413%	1h	233.83	+0.002%	$42K	$119K	5x
tradeXYZ xyz:NBIS	+0.0416%	1h	233.82	−0.003%	$55.5M	$18.8M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0452%	8h	233.66	−0.071%	$5K	$101K	10x	as long as short
Entropy io:NBIS	+0.0736%	1h	233.73	−0.041%	$10.2M	$3.0M	10x	as long as short