Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0359%/8h= +39.4% APRpaid last 24h +0.052%

Price spread now: Ondo Perps against Bitget−0.122%7-day average −0.026% · you buy dearer than you sell

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

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.019%+$2 on $10k

Price spread, last 4 days (all we have)+0.378%+$38 · spread now −0.122%, 7d avg −0.026%

Together, before fees+0.398%+ Points / potential airdropOndo Perps: Active · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.096% cheaper against Bitget than usual: you would sell low and buy high (spread −0.122% now, against its 7-day average of −0.026%). If the spread goes back, that is −$10 on $10k: about 21 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.019% in total) that is about 35 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.019% in total (about 1.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NBISUSDT	229.72	−0.0309	get 0.0309% / 8h	7h 45m	$2.3M	$4.5M	20x
Short	Ondo Perps NBIS-USD.P	229.44	0.0050	get 0.0006% / 1h	45m 11s	$148K	$539K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bitget. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.122%Rate

Funding earned: $75.47
Price spread: −0.122% → −0.026%: −$9.58
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $48.89
Costs to cover: 0.170%
Break-even: 2.5 days

Slippage unknown: Bitget: live order book, 3 min ago; Ondo Perps: 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, 3 min ago	2.61 bp	15.6 bp −$16	28.0 bp −$280	45.8 bp −$4,583	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Bitget NBISUSDTlong	−0.0309%	8h	229.72	long leg	$2.3M	$4.5M	20x
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	229.39	−0.144%	$355K	$806K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	229.65	−0.033%	$84K	$313K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	229.41	−0.135%	$147K	$880K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	229.71	−0.006%	$18.6M	$88.5M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	229.69	−0.013%	$4.9M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	229.62	−0.044%	$3.2M	$15.9M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	229.49	−0.100%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	229.08	−0.280%	$2.8M	$576K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	229.72	+0.002%	$4K	$114K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	229.52	−0.087%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	229.36	−0.157%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	229.59	−0.057%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0006%	8h	229.47	−0.109%	$203K	$213K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0012%	1h	229.37	−0.152%	$34K	$49K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	229.29	−0.187%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	229.18	−0.235%	—	$224K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.26	−0.200%	$136K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	229.36	−0.157%	$55	$20K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	229.44	−0.122%	$148K	$539K	10x
QFEX NBIS-USD	+0.0064%	1h	229.41	−0.135%	$1.5M	$3.7M	10x	as long as short
Nado NBIS-PERP	+0.0076%	1h	229.11	−0.266%	$38K	$116K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0084%	1h	229.59	−0.057%	$53.6M	$21.4M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	229.21	−0.222%	$471K	$49K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	229.45	−0.118%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	229.40	−0.137%	—	—	10x	as long as short
Lighter NBIS	+0.0184%	1h	229.45	−0.118%	$917K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	229.23	−0.213%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0384%	1h	229.39	−0.144%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0440%	4h	229.75	+0.012%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0680%	1h	229.49	−0.101%	$22K	$16K	20x	as long as short