Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0627%/8h= +68.7% APRpaid last 24h +0.016%

Price spread now: Polymarket Perps against Bitget−0.091%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.133%+$13 · spread now −0.091%, 7d avg −0.008%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.083% cheaper against Bitget than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of −0.008%). If the spread goes back, that is −$8 on $10k: about 11 hours of funding at the current rate (+$19 a day). Mind the row above: over the last 7 days funding on this pair cost −0.092%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% 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	230.79	−0.0577	get 0.0577% / 8h	1h 33m	$2.3M	$4.5M	20x
Short	Polymarket Perps NBIS-USD	230.58	0.0050	get 0.0006% / 1h	33m 26s	$137K	$473K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.091%Rate

Funding earned: $131.67
Price spread: −0.091% → −0.008%: −$8.26
Slippage, 4 orders: −$27.72
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $75.69
Costs to cover: 0.477%
Break-even: 3.0 days

Slippage from Bitget: live order book, 5 min ago; Polymarket Perps: live order book, 9 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 Bitget live order book, 5 min ago	3.04 bp	16.5 bp −$16	25.0 bp −$250	43.0 bp −$4,295	doesn't fit
Sell Polymarket Perps live order book, 9 min ago	2.82 bp	6.8 bp −$7	7.1 bp −$71	27.5 bp −$2,748	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 NBISUSDTlong	−0.0577%	8h	230.79	long leg	$2.3M	$4.5M	20x
Aster NBISUSDT	0.0000%	8h	230.60	−0.081%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.51	−0.120%	$149K	$637K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.70	−0.041%	$18.5M	$87.4M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.61	−0.078%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.49	−0.130%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.62	−0.074%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.25	−0.234%	$2.8M	$601K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.38	−0.176%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.22	−0.247%	$1K	$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
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.14	−0.282%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.42	−0.160%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.37	−0.182%	$1.6M	$962K	10x	as long as short
BloFin NBIS-USDT	+0.0020%	8h	230.39	−0.173%	$203K	$204K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.23	−0.243%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.43	−0.156%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USDshort	+0.0050%	1h	230.58	−0.091%	$137K	$473K	10x
SoDEX NBIS-USD	+0.0050%	1h	230.24	−0.238%	$92	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.16	−0.273%	$151K	$546K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.56	−0.100%	$1.5M	$3.8M	10x	as long as short
Nado NBIS-PERP	+0.0061%	1h	230.37	−0.184%	$37K	$115K	3x	as long as short
edgeX NBISUSDC	+0.0067%	4h	230.32	−0.202%	$37K	$227K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.40	−0.169%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.23	−0.243%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.19	−0.260%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0112%	1h	230.58	−0.091%	$54.2M	$21.0M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.39	−0.173%	$351K	$812K	10x	as long as short
Lighter NBIS	+0.0200%	1h	230.56	−0.100%	$951K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.30	−0.212%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0336%	1h	230.42	−0.160%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0686%	1h	230.25	−0.233%	$23K	$15K	20x	as long as short