Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0034%/8h= +3.7% APRpaid last 24h +0.029%

Price spread now: Arcus against Bybit+0.052%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$450.450% of the position

Long on Bybit Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.087%+$9 on $10k

Price spread, last 4 days (all we have)−0.299%−$30 · spread now +0.052%, 7d avg −0.016%

Together, before fees−0.212%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.068% dearer against Bybit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NBISUSDT	230.72	0.0223	pay 0.0223% / 8h	6h 59m	$4.8M	$6.8M	50x
Short	Arcus NBIS-USD	230.84	0.0257	get 0.0032% / 1h	59m 41s	$42K	$124K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now +0.052%Rate

Funding earned: $7.14
Price spread: +0.052% → −0.016%: $6.82
Slippage, 4 orders: −$29.48
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$31.01
Costs to cover: 0.450%
Break-even: 37.4 days

Slippage from Bybit: live order book, 3 min ago; Arcus: live order book, 33 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 Bybit live order book, 3 min ago	1.74 bp	15.8 bp −$16	69.1 bp −$691	doesn't fit	doesn't fit
Sell Arcus live order book, 33 min ago	3.30 bp	6.8 bp −$7	11.4 bp −$114	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
Bitget NBISUSDT	−0.0068%	8h	230.83	+0.048%	$2.3M	$4.6M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	230.78	+0.026%	$382K	$869K	10x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.75	+0.013%	$3.3M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.80	+0.035%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.37	−0.151%	$2.8M	$601K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	230.48	−0.104%	$1K	$1.6M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.55	−0.074%	$1.6M	$971K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0010%	1h	230.47	−0.108%	$34K	$50K	10x	as long as short
Aster NBISUSDT	+0.0014%	8h	230.33	−0.169%	$74K	$320K	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.47	−0.108%	—	$246K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NBIS-USD	+0.0048%	1h	230.61	−0.047%	$144K	$856K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.49	−0.100%	$137K	$467K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.20	−0.225%	$149K	$539K	10x	as long as short
Binance NBISUSDT	+0.0054%	8h	230.80	+0.033%	$18.6M	$90.3M	25x	as long as short
QFEX NBIS-USD	+0.0064%	1h	230.56	−0.069%	$1.6M	$3.7M	10x	as long as short
BloFin NBIS-USDT	+0.0065%	8h	230.49	−0.100%	$200K	$215K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.50	−0.095%	$474K	$98K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.60	−0.052%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.55	−0.072%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0133%	1h	230.32	−0.171%	$38K	$116K	3x	as long as short
HTX NBIS-USDT	+0.0202%	8h	230.68	−0.017%	$13K	$62K	20x	as long as short
Bybit NBISUSDTlong	+0.0223%	8h	230.72	long leg	$4.8M	$6.8M	50x
Lighter NBIS	+0.0256%	1h	230.96	+0.104%	$929K	$4.0M	10x	as long as short
Arcus NBIS-USDshort	+0.0257%	1h	230.84	+0.052%	$42K	$124K	5x
Phoenix NBIS	+0.0277%	1h	230.48	−0.104%	$7K	$125K	10x	as long as short
SoDEX NBIS-USD	+0.0395%	1h	230.58	−0.061%	$78	$20K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0436%	1h	230.84	+0.052%	$54.2M	$22.0M	10x	as long as short
Entropy io:NBIS	+0.0507%	1h	230.50	−0.095%	$10.1M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0677%	1h	230.58	−0.061%	$22K	$16K	20x	as long as short
edgeX NBISUSDC	+0.0741%	4h	230.53	−0.083%	$37K	$227K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0765%	8h	230.54	−0.078%	$5K	$114K	10x	as long as short