Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.029%

Price spread now: Phemex against Binance+0.022%52s7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$122as in the Funding arb table

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

costs, in and out, $10k−$1081.082% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now +0.022%, 7d avg +0.040%

Together, before fees−0.055%−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	231.00	0	get 0.0000% / 8h	2h 29m	$18.4M	$86.5M	25x
Short	Phemex NBISUSDT	231.05	0	get 0.0000% / 8h	2h 29m	$1.6M	$955K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → +0.040%: −$1.81
Slippage, 4 orders: −$86.24
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$110.05
Costs to cover: 1.082%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Phemex: live order book, 4 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, 13 min ago	1.08 bp	10.0 bp −$10	27.6 bp −$276	108.8 bp −$10.9K	doesn't fit
Sell Phemex live order book, 4 min ago	6.07 bp	47.0 bp −$47	doesn't fit	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	−0.0405%	8h	231.07	+0.030%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.05	+0.020%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.81	−0.083%	$144K	$753K	10x	as long as short
Binance NBISUSDTlong	0.0000%	8h	231.00	long leg	$18.4M	$86.5M	25x
Bybit NBISUSDT	0.0000%	8h	231.06	+0.026%	$4.9M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.94	−0.026%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.06	+0.026%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.59	−0.178%	$2.9M	$555K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.62	−0.165%	$5K	$118K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.70	−0.130%	$711	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	230.89	−0.048%	$15K	$61K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	231.05	+0.022%	$1.6M	$955K	10x
BloFin NBIS-USDT	+0.0012%	8h	230.69	−0.134%	$206K	$204K	20x	as long as short
Nado NBIS-PERP	+0.0015%	1h	230.87	−0.057%	$38K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0029%	1h	230.92	−0.035%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.70	−0.130%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.69	−0.134%	—	$219K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.90	−0.043%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.74	−0.113%	$92	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.75	−0.108%	$159K	$531K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0069%	1h	230.95	−0.022%	$53.7M	$20.5M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.85	−0.065%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.95	−0.022%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.92	−0.034%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	230.16	−0.364%	$352K	$790K	10x	as long as short
Lighter NBIS	+0.0216%	1h	230.82	−0.078%	$923K	$3.9M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0223%	1h	230.70	−0.128%	$23K	$15K	20x	as long as short
Phoenix NBIS	+0.0242%	1h	230.78	−0.095%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0317%	1h	230.87	−0.056%	$10.0M	$3.2M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0530%	1h	230.84	−0.069%	$34K	$49K	10x	as long as short
edgeX NBISUSDC	+0.0817%	4h	230.62	−0.166%	$37K	$227K	10x	as long as short