Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0183%/8h= +20.1% APRpaid last 24h +0.012%

Price spread now: Deribit against Bybit−0.035%45s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Deribit is 0.035% cheaper against Bybit than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 15 hours of funding at the current rate (+$6 a day). The two prices were read 45 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	Bybit NBISUSDT	230.92	0	get 0.0000% / 8h	1h 03m	$4.9M	$6.8M	50x
Short	Deribit NBIS_USDC-PERPETUAL	230.84	0.0183	get 0.0023% / 1h	3m 29s	$34K	$49K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.035%Rate

Funding earned: $38.51
Price spread: −0.035% → 0.000%: −$3.46
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $17.05
Costs to cover: 0.180%
Break-even: 3.9 days

Slippage unknown: Bybit: live order book, 4 min ago; Deribit: no order-book sample. Net counts fees only.

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, 4 min ago	1.51 bp	10.8 bp −$11	69.7 bp −$697	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0546%	8h	230.95	+0.013%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0004%	8h	231.04	+0.052%	$204K	$205K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.77	−0.067%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.81	−0.046%	$149K	$631K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.83	−0.039%	$18.5M	$87.6M	25x	as long as short
Bybit NBISUSDTlong	0.0000%	8h	230.92	long leg	$4.9M	$6.8M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	230.76	−0.069%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.92	0.000%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.09	+0.073%	$2.8M	$595K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.01	+0.040%	$5K	$116K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	230.97	+0.022%	$889	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.89	−0.013%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.98	+0.026%	$1.6M	$966K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.87	−0.022%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.75	−0.074%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.87	−0.022%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.96	+0.017%	$134	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.77	−0.065%	$151K	$542K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.85	−0.030%	$1.5M	$3.8M	10x	as long as short
Nado NBIS-PERP	+0.0079%	1h	230.75	−0.074%	$38K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.75	−0.074%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.98	+0.026%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.91	−0.003%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.38	−0.234%	$352K	$814K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0124%	1h	230.88	−0.017%	$54.2M	$21.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUALshort	+0.0183%	1h	230.84	−0.035%	$34K	$49K	10x
Lighter NBIS	+0.0224%	1h	230.86	−0.026%	$936K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.15	+0.100%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0359%	1h	230.85	−0.030%	$10.1M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0530%	4h	230.99	+0.031%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0685%	1h	230.85	−0.031%	$23K	$15K	20x	as long as short