Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0066%/8h= −7.3% APRpaid last 24h +0.035%

Price spread now: Coinbase International against BloFin−0.009%58s7-day average +0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.384% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.391%+$39 on $10k

Price spread, last 3 days (all we have)+0.152%+$15 · spread now −0.009%, 7d avg +0.083%

Together, before fees+0.543%+$54 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 Coinbase International is 0.092% cheaper against BloFin than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.083%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.391%, so the current rate has only just turned against you. The two prices were read 58 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	BloFin NBIS-USDT	233.78	0.0138	pay 0.0138% / 8h	1h 06m	$205K	$213K	20x
Short	Coinbase International NBIS-PERP-INTX	233.76	0.0072	get 0.0009% / 1h	6m 26s	$358K	$701K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$13.94
Price spread: −0.009% → +0.083%: −$9.17
Slippage, 4 orders: −$16.44
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$61.55
Costs to cover: 0.384%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Coinbase International: live order book, 12 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, 4 min ago	0.86 bp	9.1 bp −$9	15.2 bp −$152	doesn't fit	doesn't fit
Sell Coinbase International live order book, 12 min ago	4.06 bp	9.5 bp −$9	20.8 bp −$208	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
Deribit NBIS_USDC-PERPETUAL	−0.0049%	1h	233.75	−0.013%	$35K	$47K	10x	as long as short
Bybit NBISUSDT	0.0000%	8h	233.77	−0.004%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.76	−0.009%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.84	+0.026%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.85	+0.030%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.83	+0.021%	$1K	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.89	+0.047%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.83	+0.021%	$1.6M	$970K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	233.82	+0.017%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.88	+0.043%	$44K	$134K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	233.99	+0.090%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.86	+0.034%	$132K	$683K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.86	+0.034%	$14	$20K	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0072%	1h	233.76	−0.009%	$358K	$701K	10x
Variational Omni NBIS	+0.0075%	8h	233.82	+0.016%	$2.8M	$825K	—	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.67	−0.047%	$482K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.87	+0.038%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.89	+0.046%	—	—	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0125%	1h	233.73	−0.021%	$173K	$498K	10x	as long as short
Aster NBISUSDT	+0.0125%	8h	233.81	+0.014%	$79K	$304K	50x	as long as short
Extended NBIS-USD	+0.0136%	1h	233.82	+0.018%	$142K	$697K	10x	as long as short
Binance NBISUSDT	+0.0137%	8h	233.87	+0.038%	$19.3M	$86.9M	25x	as long as short
BloFin NBIS-USDTlong	+0.0138%	8h	233.78	long leg	$205K	$213K	20x
GRVT NBIS_USDT_Perp	+0.0155%	8h	233.87	+0.037%	$5K	$142K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0215%	1h	233.86	+0.034%	$54.5M	$23.4M	10x	as long as short
Lighter NBIS	+0.0248%	1h	233.92	+0.060%	$930K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0266%	1h	233.85	+0.029%	$28K	$63K	3x	as long as short
Entropy io:NBIS	+0.0332%	1h	233.84	+0.026%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0343%	1h	233.69	−0.038%	$7K	$185K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0346%	1h	233.72	−0.026%	$24K	$13K	20x	as long as short
edgeX NBISUSDC	+0.0847%	4h	233.83	+0.021%	$37K	$234K	10x	as long as short