Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.057%

Price spread now: Bybit against Coinbase International−0.471%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$540.544% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.339%−$34 on $10k

Price spread, last 4 days (all we have)+0.308%+$31 · spread now −0.471%, 7d avg −0.091%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bybit is 0.380% cheaper against Coinbase International than usual: you would sell low and buy high (−$38 if the spread goes back to its 7-day average of −0.091%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	235.56	0.0104	pay 0.0013% / 1h	52m 49s	$389K	$724K	10x
Short	Bybit NBISUSDT	234.45	0	get 0.0000% / 8h	3h 52m	$5.0M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.471%Rate

Funding earned: −$21.84
Price spread: −0.471% → −0.091%: −$37.97
Slippage, 4 orders: −$33.36
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$114.18
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 66 min ago; Bybit: live order book, 5 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, 66 min ago	6.79 bp	15.2 bp −$15	18.4 bp −$184	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.56 bp	13.7 bp −$14	72.8 bp −$728	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
Bybit NBISUSDTshort	0.0000%	8h	234.45	−0.471%	$5.0M	$6.3M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	234.42	−0.484%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.37	−0.505%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.38	−0.501%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	234.51	−0.446%	$2.9M	$559K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.70	−0.364%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.39	−0.497%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.46	−0.467%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.39	−0.497%	$1.6M	$954K	10x	as long as short
Aster NBISUSDT	+0.0011%	8h	234.74	−0.350%	$79K	$310K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NBISUSDT	+0.0014%	8h	234.38	−0.500%	$19.3M	$84.5M	25x	as long as short
Extended NBIS-USD	+0.0016%	1h	234.32	−0.525%	$150K	$701K	10x	as long as short
BloFin NBIS-USDT	+0.0024%	8h	234.44	−0.475%	$207K	$206K	20x	as long as short
QFEX NBIS-USD	+0.0034%	1h	234.26	−0.552%	$1.5M	$4.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	234.38	−0.501%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.50	−0.450%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0048%	1h	234.31	−0.531%	$23K	$15K	20x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.29	−0.539%	$147K	$456K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.37	−0.505%	$80	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.27	−0.548%	$161K	$501K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0096%	1h	234.29	−0.539%	$54.7M	$19.9M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.31	−0.531%	$483K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.37	−0.505%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.37	−0.503%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0104%	1h	235.56	long leg	$389K	$724K	10x
Nado NBIS-PERP	+0.0120%	1h	234.27	−0.550%	$38K	$115K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0177%	1h	234.29	−0.539%	$35K	$49K	10x	as long as short
Phoenix NBIS	+0.0239%	1h	234.35	−0.514%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0264%	1h	234.40	−0.492%	$906K	$3.9M	10x	as long as short
Entropy io:NBIS	+0.0339%	1h	234.46	−0.467%	$10.2M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0661%	4h	234.35	−0.515%	$38K	$226K	10x	as long as short