Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.019%

Price spread now: Gate against Coinbase International+0.093%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$91as in the Funding arb table

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

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

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.370%−$37 on $10k

Price spread, last 4 days (all we have)−0.239%−$24 · spread now +0.093%, 7d avg −0.064%

Together, before fees−0.609%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.158% dearer against Coinbase International than usual: you sell high and buy low (spread +0.093% now, against its 7-day average of −0.064%): +$16 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.4 days. At the pace of the last 7 days (−0.370% in total) that is about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	235.35	0.0056	pay 0.0007% / 1h	44m 10s	$389K	$724K	10x
Short	Gate NBIS_USDT	235.57	0	get 0.0000% / 8h	4h 44m	$2.8M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.093%Rate

Funding earned: −$11.76
Price spread: +0.093% → −0.064%: $15.79
Slippage, 4 orders: −$29.39
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$50.36
Costs to cover: 0.544%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 14 min ago; Gate: 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	6.79 bp	15.2 bp −$15	18.4 bp −$184	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	1.91 bp	15.8 bp −$16	84.0 bp −$840	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
Nado NBIS-PERP	−0.0203%	1h	235.38	+0.013%	$64K	$102K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.75	+0.170%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.68	+0.140%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDTshort	0.0000%	8h	235.57	+0.093%	$2.8M	$5.0M	50x
Bitget NBISUSDT	0.0000%	8h	235.64	+0.123%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.39	+0.018%	$5K	$119K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.62	+0.115%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.28	−0.030%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.71	+0.153%	$1.6M	$959K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.60	+0.106%	$1.5M	$4.2M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NBIS	+0.0039%	8h	235.31	−0.016%	$2.9M	$573K	—	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.24	−0.047%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.76	+0.174%	—	$216K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0047%	1h	235.58	+0.098%	$35K	$48K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.50	+0.064%	$55.0M	$19.8M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.48	+0.055%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.56	+0.089%	$9	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.34	−0.004%	$161K	$504K	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0056%	1h	235.35	long leg	$389K	$724K	10x
Lighter NBIS	+0.0064%	1h	235.65	+0.127%	$899K	$4.0M	10x	as long as short
Aster NBISUSDT	+0.0085%	8h	235.48	+0.056%	$81K	$310K	50x	as long as short
Extended NBIS-USD	+0.0088%	1h	235.62	+0.114%	$147K	$702K	10x	as long as short
Binance NBISUSDT	+0.0089%	8h	235.72	+0.157%	$19.4M	$84.6M	25x	as long as short
BloFin NBIS-USDT	+0.0097%	8h	235.51	+0.068%	$208K	$205K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.42	+0.030%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.65	+0.127%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.62	+0.115%	—	—	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.31	−0.017%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0423%	1h	235.41	+0.025%	$10.2M	$3.3M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.37	+0.008%	$24K	$15K	20x	as long as short
edgeX NBISUSDC	+0.0975%	4h	235.27	−0.032%	$38K	$227K	10x	as long as short