Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.057%

Price spread now: Polymarket Perps against Bybit0.000%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

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

costs, in and out, $10k−$400.398% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.093%−$9 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now 0.000%, 7d avg −0.004%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.093%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NBISUSDT	234.76	0	get 0.0000% / 8h	24m 09s	$5.2M	$6.5M	50x
Short	Polymarket Perps NBIS-USD	234.76	0.0050	get 0.0006% / 1h	24m 09s	$149K	$723K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now 0.000%Rate

Funding earned: $10.5
Price spread: 0.000% → −0.004%: $0.39
Slippage, 4 orders: −$20.84
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$28.95
Costs to cover: 0.398%
Break-even: 26.3 days

Slippage from Bybit: live order book, 4 min ago; Polymarket Perps: live order book, 54 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, 4 min ago	2.34 bp	15.8 bp −$16	86.2 bp −$862	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 54 min ago	1.71 bp	5.7 bp −$6	6.2 bp −$62	25.2 bp −$2,522	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
Bybit NBISUSDTlong	0.0000%	8h	234.76	long leg	$5.2M	$6.5M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	234.73	−0.013%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.72	−0.017%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.70	−0.026%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.78	+0.009%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.66	−0.043%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	233.76	−0.426%	$358K	$676K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.82	+0.026%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.72	−0.017%	$1.6M	$973K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.97	+0.089%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USDshort	+0.0050%	1h	234.76	0.000%	$149K	$723K	10x
SoDEX NBIS-USD	+0.0050%	1h	234.70	−0.026%	$23	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.73	−0.013%	$1.5M	$5.2M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.61	−0.064%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.73	−0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.80	+0.018%	—	—	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0118%	1h	234.65	−0.047%	$174K	$499K	10x	as long as short
Nado NBIS-PERP	+0.0201%	1h	234.70	−0.026%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0218%	8h	234.82	+0.025%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0235%	8h	234.58	−0.079%	$79K	$306K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.46	−0.129%	$24K	$14K	20x	as long as short
BloFin NBIS-USDT	+0.0251%	8h	234.76	0.000%	$207K	$214K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0252%	8h	234.83	+0.030%	$5K	$139K	10x	as long as short
Binance NBISUSDT	+0.0253%	8h	234.73	−0.013%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USD	+0.0256%	1h	234.67	−0.038%	$142K	$697K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.76	0.000%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0308%	1h	234.80	+0.017%	$54.7M	$23.4M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	234.90	+0.060%	$7K	$163K	10x	as long as short
Lighter NBIS	+0.0384%	1h	234.87	+0.047%	$933K	$4.6M	10x	as long as short
Entropy io:NBIS	+0.0496%	1h	234.82	+0.026%	$10.3M	$3.4M	10x	as long as short
edgeX NBISUSDC	+0.0943%	4h	234.82	+0.025%	$38K	$234K	10x	as long as short