Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0256%/8h= −28.0% APRpaid last 24h −0.011%

Price spread now: Deribit against Binance+0.025%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.025% dearer against Binance than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	235.55	0.0256	pay 0.0256% / 8h	7h 35m	$19.5M	$85.6M	25x
Short	Deribit NBIS_USDC-PERPETUAL	235.61	0	get 0.0000% / 1h	35m 49s	$35K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$53.73
Price spread: +0.025% → 0.000%: $2.46
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$68.27
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 7 min ago; Deribit: no order-book sample. 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 Binance live order book, 7 min ago	0.85 bp	10.6 bp −$11	25.9 bp −$259	87.2 bp −$8,725	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.45	−0.042%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.62	+0.029%	$3.4M	$16.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.53	−0.009%	$2.8M	$5.1M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.62	+0.029%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUALshort	0.0000%	1h	235.61	+0.025%	$35K	$48K	10x
HTX NBIS-USDT	0.0000%	8h	235.70	+0.063%	$15K	$112K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.58	+0.012%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.211%	$386K	$739K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.54	−0.005%	$1.5M	$5.0M	10x	as long as short
Bitget NBISUSDT	+0.0039%	8h	235.58	+0.012%	$2.5M	$4.7M	20x	as long as short

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	235.81	+0.110%	—	$224K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.43	−0.052%	$175K	$505K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.41	−0.060%	$485K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.60	+0.020%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.56	+0.002%	—	—	10x	as long as short
Bybit NBISUSDT	+0.0123%	8h	235.57	+0.008%	$5.1M	$6.5M	50x	as long as short
SoDEX NBIS-USD	+0.0172%	1h	235.50	−0.022%	$42	$20K	10x	as long as short
Nado NBIS-PERP	+0.0181%	1h	235.78	+0.099%	$29K	$63K	3x	as long as short
Variational Omni NBIS	+0.0225%	8h	235.53	−0.010%	$2.9M	$820K	—	as long as short
Aster NBISUSDT	+0.0234%	8h	235.76	+0.087%	$81K	$308K	50x	as long as short
Binance NBISUSDTlong	+0.0256%	8h	235.55	long leg	$19.5M	$85.6M	25x
Extended NBIS-USD	+0.0256%	1h	235.55	−0.002%	$148K	$967K	10x	as long as short
BloFin NBIS-USDT	+0.0267%	8h	236.00	+0.190%	$207K	$212K	20x	as long as short
Lighter NBIS	+0.0288%	1h	235.63	+0.033%	$927K	$4.5M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.55	−0.001%	$44K	$132K	5x	as long as short
GRVT NBIS_USDT_Perp	+0.0368%	8h	235.42	−0.054%	$5K	$136K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.59	+0.016%	$7K	$163K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0449%	1h	235.64	+0.037%	$135K	$433K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0557%	1h	235.51	−0.018%	$55.1M	$23.6M	10x	as long as short
edgeX NBISUSDC	+0.0863%	4h	235.35	−0.085%	$38K	$228K	10x	as long as short
Entropy io:NBIS	+0.0902%	1h	235.66	+0.046%	$10.3M	$3.4M	10x	as long as short