Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h +0.073%

Price spread now: Coinbase International against Bybit+0.187%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.345%+$34 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.187%, 7d avg +0.095%

Together, before fees+0.294%+$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.092% dearer against Bybit than usual: you sell high and buy low (spread +0.187% now, against its 7-day average of +0.095%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.345%, 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	Bybit NBISUSDT	235.61	0.0084	pay 0.0084% / 8h	7h 32m	$5.1M	$6.5M	50x
Short	Coinbase International NBIS-PERP-INTX	236.05	0.0016	get 0.0002% / 1h	32m 23s	$386K	$739K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.187%Rate

Funding earned: −$14.22
Price spread: +0.187% → +0.095%: $9.18
Slippage, 4 orders: −$26.92
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$52.96
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Coinbase International: live order book, 41 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, 1 min ago	2.12 bp	19.3 bp −$19	72.1 bp −$721	doesn't fit	doesn't fit
Sell Coinbase International live order book, 41 min ago	3.20 bp	8.7 bp −$9	16.0 bp −$160	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
Kraken Futures PF_NBISUSD	−0.0179%	1h	235.38	−0.097%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.61	0.000%	$3.4M	$16.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.52	−0.038%	$2.8M	$5.1M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.36	−0.106%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.54	−0.030%	$15K	$112K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.31	−0.127%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0016%	1h	236.05	+0.187%	$386K	$739K	10x
QFEX NBIS-USD	+0.0038%	1h	235.56	−0.021%	$1.5M	$5.0M	10x	as long as short
Bitget NBISUSDT	+0.0043%	8h	235.62	+0.004%	$2.5M	$4.7M	20x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.79	+0.076%	—	$224K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.41	−0.085%	$175K	$504K	10x	as long as short
Bybit NBISUSDTlong	+0.0084%	8h	235.61	long leg	$5.1M	$6.5M	50x
KuCoin NBISUSDTM	+0.0100%	8h	235.38	−0.098%	$485K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.58	−0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.56	−0.022%	—	—	10x	as long as short
SoDEX NBIS-USD	+0.0107%	1h	235.52	−0.038%	$33	$20K	10x	as long as short
Nado NBIS-PERP	+0.0179%	1h	235.35	−0.111%	$29K	$63K	3x	as long as short
Variational Omni NBIS	+0.0225%	8h	235.53	−0.035%	$2.9M	$820K	—	as long as short
BloFin NBIS-USDT	+0.0234%	8h	235.33	−0.119%	$206K	$212K	20x	as long as short
Aster NBISUSDT	+0.0235%	8h	235.71	+0.043%	$81K	$308K	50x	as long as short
Extended NBIS-USD	+0.0256%	1h	235.60	−0.004%	$147K	$986K	10x	as long as short
Binance NBISUSDT	+0.0257%	8h	235.63	+0.008%	$19.5M	$85.7M	25x	as long as short
Lighter NBIS	+0.0280%	1h	235.56	−0.021%	$927K	$4.5M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.39	−0.093%	$44K	$132K	5x	as long as short
GRVT NBIS_USDT_Perp	+0.0384%	8h	235.42	−0.080%	$5K	$133K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0387%	1h	235.52	−0.038%	$35K	$48K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0388%	1h	235.66	+0.021%	$135K	$433K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.75	+0.059%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0424%	4h	235.38	−0.096%	$38K	$228K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0500%	1h	235.57	−0.017%	$55.1M	$23.6M	10x	as long as short
Entropy io:NBIS	+0.0873%	1h	235.45	−0.068%	$10.3M	$3.4M	10x	as long as short