Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0341%/8h= +37.3% APRpaid last 24h +0.065%

Price spread now: Deribit against Bitget−0.078%48s7-day average — · you buy dearer than you sell

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

Long on Bitget 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

Funding pays, the price is against you. Deribit is 0.078% cheaper against Bitget than usual: you would sell low and buy high (spread −0.078% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 18 hours of funding at the current rate (+$10 a day). The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NBISUSDT	229.72	−0.0341	get 0.0341% / 8h	7h 52m	$2.3M	$4.5M	20x
Short	Deribit NBIS_USDC-PERPETUAL	229.54	0	get 0.0000% / 1h	52m 31s	$34K	$49K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now −0.078%Rate

Funding earned: $71.61
Price spread: −0.078% → 0.000%: −$7.84
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $44.77
Costs to cover: 0.190%
Break-even: 2.6 days

Slippage unknown: Bitget: live order book, 6 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 Bitget live order book, 6 min ago	2.17 bp	17.4 bp −$17	24.9 bp −$249	48.4 bp −$4,844	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
GRVT NBIS_USDT_Perp	−0.0471%	8h	229.46	−0.113%	$4K	$115K	10x	as long as short
Bitget NBISUSDTlong	−0.0341%	8h	229.72	long leg	$2.3M	$4.5M	20x
Ondo Perps NBIS-USD.P	−0.0126%	1h	229.25	−0.205%	$150K	$537K	10x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	230.90	+0.514%	$357K	$810K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	230.00	+0.120%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	229.70	−0.008%	$143K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	229.80	+0.035%	$18.7M	$88.0M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	229.67	−0.022%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	229.84	+0.052%	$3.3M	$15.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	229.60	−0.052%	$2.7M	$5.1M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NBIS	0.0000%	8h	230.22	+0.219%	$2.8M	$582K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	229.63	−0.039%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUALshort	0.0000%	1h	229.54	−0.078%	$34K	$49K	10x
HTX NBIS-USDT	0.0000%	8h	229.84	+0.052%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	229.58	−0.061%	$1.5M	$972K	10x	as long as short
BloFin NBIS-USDT	+0.0012%	8h	229.61	−0.048%	$203K	$213K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	229.59	−0.057%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	229.45	−0.118%	—	$224K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	229.72	0.000%	$53.7M	$21.3M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.55	−0.074%	$136K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	229.22	−0.218%	$64	$20K	10x	as long as short
Nado NBIS-PERP	+0.0056%	1h	229.61	−0.047%	$38K	$116K	3x	as long as short
QFEX NBIS-USD	+0.0064%	1h	229.70	−0.009%	$1.5M	$3.7M	10x	as long as short
Lighter NBIS	+0.0096%	1h	229.64	−0.035%	$916K	$3.9M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	229.69	−0.013%	$472K	$42K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	229.65	−0.030%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	229.57	−0.065%	—	—	10x	as long as short
Phoenix NBIS	+0.0277%	1h	228.94	−0.340%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0328%	1h	229.79	+0.030%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0386%	4h	229.57	−0.064%	$37K	$226K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0679%	1h	229.63	−0.037%	$23K	$15K	20x	as long as short