Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.063%

Price spread now: QFEX against Binance−0.030%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.061%−$6 on $10k

Price spread, last 2 days (all we have)+0.135%+$14 · spread now −0.030%, 7d avg +0.012%

Together, before fees+0.074%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.042% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	233.74	0.0104	pay 0.0104% / 8h	1h 15m	$19.4M	$86.9M	25x
Short	QFEX NBIS-USD	233.67	0.0038	get 0.0005% / 1h	15m 09s	$1.5M	$5.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$13.88
Price spread: −0.030% → +0.012%: −$4.19
Slippage, 4 orders: −$13.77
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$51.84
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; QFEX: live order book, 3 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	0.43 bp	8.4 bp −$8	21.7 bp −$217	81.3 bp −$8,126	doesn't fit
Sell QFEX live order book, 3 min ago	1.92 bp	7.7 bp −$8	11.3 bp −$113	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	233.67	−0.030%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.67	−0.030%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.68	−0.026%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.71	−0.013%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.74	0.000%	$1K	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.89	+0.064%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.77	+0.013%	$1.6M	$970K	10x	as long as short
QFEX NBIS-USDshort	+0.0038%	1h	233.67	−0.030%	$1.5M	$5.1M	10x
Arcus NBIS-USD	+0.0040%	1h	233.66	−0.034%	$44K	$133K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.77	+0.013%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	233.69	−0.021%	$132K	$683K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.71	−0.013%	$14	$20K	10x	as long as short
Variational Omni NBIS	+0.0057%	8h	233.76	+0.009%	$2.8M	$825K	—	as long as short
Coinbase International NBIS-PERP-INTX	+0.0072%	1h	232.99	−0.321%	$356K	$697K	10x	as long as short
BloFin NBIS-USDT	+0.0093%	8h	233.74	0.000%	$205K	$214K	20x	as long as short
Aster NBISUSDT	+0.0095%	8h	233.69	−0.019%	$79K	$304K	50x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.50	−0.103%	$481K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.77	+0.013%	$2K	$3K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0102%	1h	233.84	+0.043%	$173K	$499K	10x	as long as short
Extended NBIS-USD	+0.0104%	1h	233.70	−0.018%	$142K	$697K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.74	+0.001%	—	—	10x	as long as short
Binance NBISUSDTlong	+0.0104%	8h	233.74	long leg	$19.4M	$86.9M	25x
GRVT NBIS_USDT_Perp	+0.0125%	8h	233.83	+0.039%	$5K	$142K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0204%	1h	233.74	0.000%	$54.5M	$23.5M	10x	as long as short
edgeX NBISUSDC	+0.0223%	4h	233.77	+0.012%	$37K	$235K	10x	as long as short
Lighter NBIS	+0.0232%	1h	233.79	+0.021%	$930K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0260%	1h	233.52	−0.093%	$28K	$63K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0307%	1h	233.71	−0.013%	$35K	$47K	10x	as long as short
Entropy io:NBIS	+0.0310%	1h	233.76	+0.009%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0343%	1h	233.99	+0.107%	$7K	$185K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0346%	1h	233.54	−0.085%	$24K	$13K	20x	as long as short