Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.005%

Price spread now: Arcus against BloFin−0.051%7-day average −0.029% · 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−$39as in the Price arb table

costs, in and out, $10k−$360.365% of the position

Long on BloFin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.064%+$6 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now −0.051%, 7d avg −0.029%

Together, before fees+0.225%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Arcus is 0.022% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.029%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.064%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NBIS-USDT	235.39	0.0050	pay 0.0050% / 8h	4h 18m	$207K	$205K	20x
Short	Arcus NBIS-USD	235.27	0.0040	get 0.0005% / 1h	18m 16s	$43K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against BloFin. 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 BloFinbpFee ArcusbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$2.04
Price spread: −0.051% → −0.029%: −$2.18
Slippage, 4 orders: −$19.96
Fee BloFin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$40.68
Costs to cover: 0.365%
Break-even: never at this rate

Slippage from BloFin: live order book, 12 min ago; Arcus: live order book, 40 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 BloFin live order book, 12 min ago	0.85 bp	9.9 bp −$10	21.6 bp −$216	doesn't fit	doesn't fit
Sell Arcus live order book, 40 min ago	3.19 bp	11.5 bp −$11	18.6 bp −$186	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
Nado NBIS-PERP	−0.0088%	1h	235.26	−0.056%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.47	+0.034%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.32	−0.030%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.37	−0.008%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.35	−0.017%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	235.53	+0.058%	$2.9M	$562K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.52	+0.057%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.36	−0.013%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.41	+0.008%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.41	+0.008%	$1.6M	$955K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0038%	1h	235.29	−0.042%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USDshort	+0.0040%	1h	235.27	−0.051%	$43K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	235.62	+0.098%	—	$216K	5x	as long as short
Aster NBISUSDT	+0.0046%	8h	235.34	−0.021%	$79K	$310K	50x	as long as short
Extended NBIS-USD	+0.0048%	1h	235.31	−0.035%	$150K	$701K	10x	as long as short
Binance NBISUSDT	+0.0049%	8h	235.37	−0.008%	$19.4M	$84.5M	25x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.25	−0.059%	$54.8M	$19.8M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.26	−0.055%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.30	−0.038%	$38	$21K	10x	as long as short
BloFin NBIS-USDTlong	+0.0050%	8h	235.39	long leg	$207K	$205K	20x
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.54	+0.064%	$161K	$503K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.56	+0.072%	$389K	$724K	10x	as long as short
edgeX NBISUSDC	+0.0095%	4h	235.47	+0.036%	$38K	$226K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.18	−0.089%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.33	−0.025%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.32	−0.030%	—	—	10x	as long as short
Lighter NBIS	+0.0112%	1h	235.44	+0.021%	$903K	$4.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0218%	1h	235.31	−0.034%	$35K	$48K	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.43	+0.017%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0408%	1h	235.37	−0.008%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.30	−0.039%	$24K	$15K	20x	as long as short