Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.061%

Price spread now: Bitget against Coinbase International+0.330%7-day average −0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$610.611% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.321%−$32 on $10k

Price spread, last 3 days (all we have)−0.408%−$41 · spread now +0.330%, 7d avg −0.098%

Together, before fees−0.729%−$73 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.429% dearer against Coinbase International than usual: you sell high and buy low (spread +0.330% now, against its 7-day average of −0.098%): +$43 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 20 days. At the pace of the last 7 days (−0.321% in total) that is about 9.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	232.99	0.0072	pay 0.0009% / 1h	30m 07s	$356K	$698K	10x
Short	Bitget NBISUSDT	233.76	0	get 0.0000% / 8h	1h 30m	$2.5M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.330%Rate

Funding earned: −$15.12
Price spread: +0.330% → −0.098%: $42.86
Slippage, 4 orders: −$39.15
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$33.41
Costs to cover: 0.611%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 53 min ago; Bitget: live order book, 3 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, 53 min ago	10.50 bp	16.2 bp −$16	22.0 bp −$220	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.28 bp	13.0 bp −$13	28.5 bp −$285	42.8 bp −$4,280	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 NBISUSDT	0.0000%	8h	233.76	+0.330%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.76	+0.330%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.75	+0.326%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDTshort	0.0000%	8h	233.76	+0.330%	$2.5M	$4.8M	20x
Variational Omni NBIS	0.0000%	8h	233.75	+0.327%	$2.8M	$825K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	233.77	+0.335%	$795	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.70	+0.305%	$35K	$47K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.80	+0.348%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.81	+0.352%	$1.6M	$966K	10x	as long as short
Aster NBISUSDT	+0.0035%	8h	233.53	+0.232%	$79K	$304K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0038%	1h	233.74	+0.322%	$1.5M	$5.1M	10x	as long as short
Binance NBISUSDT	+0.0039%	8h	233.81	+0.351%	$19.4M	$86.9M	25x	as long as short
Extended NBIS-USD	+0.0040%	1h	233.77	+0.335%	$141K	$697K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.73	+0.318%	$44K	$133K	5x	as long as short
BloFin NBIS-USDT	+0.0043%	8h	233.77	+0.335%	$205K	$213K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0044%	8h	233.70	+0.305%	$5K	$144K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.87	+0.378%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.76	+0.330%	$148K	$657K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.80	+0.348%	$51	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.83	+0.361%	$173K	$499K	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0072%	1h	232.99	long leg	$356K	$698K	10x
KuCoin NBISUSDTM	+0.0100%	8h	233.50	+0.219%	$481K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.80	+0.348%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.77	+0.335%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0189%	1h	233.79	+0.343%	$54.5M	$23.5M	10x	as long as short
Lighter NBIS	+0.0208%	1h	233.88	+0.382%	$934K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0220%	1h	233.72	+0.312%	$28K	$63K	3x	as long as short
Entropy io:NBIS	+0.0261%	1h	233.74	+0.322%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0343%	1h	233.78	+0.339%	$7K	$185K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0346%	1h	233.65	+0.283%	$24K	$13K	20x	as long as short
edgeX NBISUSDC	+0.0916%	4h	233.85	+0.370%	$37K	$235K	10x	as long as short