Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.078%

Price spread now: OKX against Coinbase International+0.102%7-day average −0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$470.465% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.427%−$43 on $10k

Price spread, last 4 days (all we have)−0.227%−$23 · spread now +0.102%, 7d avg −0.101%

Together, before fees−0.654%−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.203% dearer against Coinbase International than usual: you sell high and buy low (spread +0.102% now, against its 7-day average of −0.101%): +$20 on $10k if it goes back. Holding the pair costs −$3 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	235.35	0.0104	pay 0.0013% / 1h	4m 46s	$389K	$725K	10x
Short	OKX NBIS-USDT-SWAP	235.59	0	get 0.0000% / 8h	5h 04m	$3.4M	$16.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$21.84
Price spread: +0.102% → −0.101%: $20.29
Slippage, 4 orders: −$26.51
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$48.07
Costs to cover: 0.465%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 59 min ago; OKX: 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, 59 min ago	9.19 bp	14.2 bp −$14	19.4 bp −$194	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	1.49 bp	8.6 bp −$9	23.3 bp −$233	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	−0.0008%	1h	235.46	+0.047%	$64K	$99K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.62	+0.115%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	235.59	+0.102%	$3.4M	$16.2M	25x
Gate NBIS_USDT	0.0000%	8h	235.58	+0.098%	$2.8M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.59	+0.102%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.28	−0.030%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.57	+0.093%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.47	+0.051%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.57	+0.093%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.58	+0.098%	$1.6M	$960K	10x	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	+0.0023%	1h	235.50	+0.064%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.26	−0.038%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.79	+0.187%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.48	+0.055%	$150K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.53	+0.076%	$61	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.42	+0.030%	$165K	$500K	10x	as long as short
edgeX NBISUSDC	+0.0052%	4h	235.46	+0.047%	$38K	$226K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0069%	1h	235.51	+0.068%	$55.2M	$19.6M	10x	as long as short
Variational Omni NBIS	+0.0075%	8h	235.50	+0.063%	$2.9M	$565K	—	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.31	−0.017%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.54	+0.081%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.53	+0.078%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0104%	1h	235.35	long leg	$389K	$725K	10x
Aster NBISUSDT	+0.0115%	8h	235.45	+0.044%	$81K	$307K	50x	as long as short
BloFin NBIS-USDT	+0.0115%	8h	235.57	+0.093%	$207K	$205K	20x	as long as short
Binance NBISUSDT	+0.0119%	8h	235.60	+0.108%	$19.2M	$84.5M	25x	as long as short
Extended NBIS-USD	+0.0120%	1h	235.54	+0.080%	$147K	$706K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0151%	1h	235.38	+0.015%	$24K	$15K	20x	as long as short
Lighter NBIS	+0.0272%	1h	235.57	+0.093%	$902K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	235.50	+0.064%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0523%	1h	235.40	+0.021%	$10.2M	$3.3M	10x	as long as short