Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h −0.037%

Price spread now: Binance against Coinbase International+0.103%7-day average −0.160% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.384%−$38 on $10k

Price spread, last 2 days (all we have)−0.636%−$64 · spread now +0.103%, 7d avg −0.160%

Together, before fees−1.020%−$102 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.263% dearer against Coinbase International than usual: you sell high and buy low (spread +0.103% now, against its 7-day average of −0.160%): +$26 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 6.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	232.99	0.0136	pay 0.0017% / 1h	8m 58s	$355K	$704K	10x
Short	Binance NBISUSDT	233.23	0	get 0.0000% / 8h	2h 08m	$19.4M	$87.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.103%Rate

Funding earned: −$28.56
Price spread: +0.103% → −0.160%: $26.34
Slippage, 4 orders: −$28.25
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$50.47
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 14 min ago; Binance: live order book, 4 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 Coinbase International live order book, 14 min ago	10.50 bp	16.2 bp −$16	22.0 bp −$220	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.21 bp	7.5 bp −$7	29.4 bp −$294	108.2 bp −$10.8K	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	−0.0350%	1h	233.15	+0.069%	$35K	$67K	10x	as long as short
BloFin NBIS-USDT	−0.0017%	8h	233.25	+0.112%	$205K	$216K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	233.33	+0.148%	$79K	$304K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.21	+0.093%	$141K	$697K	10x	as long as short
Binance NBISUSDTshort	0.0000%	8h	233.23	+0.103%	$19.4M	$87.1M	25x
Bybit NBISUSDT	0.0000%	8h	233.17	+0.077%	$5.1M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.14	+0.064%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.22	+0.099%	$2.9M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.37	+0.163%	$2.5M	$4.7M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.30	+0.133%	$2.8M	$945K	—	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	233.24	+0.107%	$431	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.40	+0.176%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.24	+0.107%	$1.6M	$964K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0002%	8h	233.31	+0.136%	$5K	$147K	10x	as long as short
QFEX NBIS-USD	+0.0033%	1h	233.27	+0.120%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.27	+0.120%	$44K	$134K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.45	+0.197%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.30	+0.133%	$130K	$588K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.21	+0.094%	$70	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.19	+0.086%	$180K	$514K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0056%	1h	233.11	+0.052%	$24K	$13K	20x	as long as short
edgeX NBISUSDC	+0.0061%	4h	233.28	+0.126%	$37K	$233K	10x	as long as short
Lighter NBIS	+0.0096%	1h	233.22	+0.099%	$935K	$4.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.07	+0.034%	$480K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.25	+0.112%	$2K	$4K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.22	+0.098%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0136%	1h	232.99	long leg	$355K	$704K	10x
tradeXYZ xyz:NBIS	+0.0176%	1h	233.29	+0.129%	$54.4M	$23.5M	10x	as long as short
Nado NBIS-PERP	+0.0181%	1h	233.24	+0.109%	$28K	$65K	3x	as long as short
Entropy io:NBIS	+0.0182%	1h	233.28	+0.124%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0276%	1h	233.41	+0.180%	$7K	$185K	10x	as long as short