NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0204%/8h= +22.4% APRnext payment +$0.26 per $10,000 · paid last 24h +0.023%

Price spread now: Phoenix against Coinbase International+0.668%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs+$6as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.664%−$66 · spread now +0.668%, 7d avg +0.009%

Together, before fees−0.577%−$58 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.659% dearer against Coinbase International than usual: you sell high and buy low: +$66 more if the spread goes back to its 7-day average of +0.009%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.086% in total (about 4.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	233.53	0.0104	pay 0.0013% / 1h	12m 49s	$382K	$712K	10x
Short	Phoenix NBIS	235.09	0.0308	get 0.0039% / 1h	12m 49s	$7K	$150K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.668%Rate

Funding earned: $42.86
Price spread: +0.668% → +0.009%: $65.86
Slippage, 4 orders: −$42.93
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $48.8
Costs to cover: 0.599%
Break-even: from the start

Slippage from Coinbase International: live order book, 50 min ago; Phoenix: live order book, 43 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, 50 min ago	9.19 bp	14.2 bp −$14	19.4 bp −$194	doesn't fit	doesn't fit
Sell Phoenix live order book, 43 min ago	5.12 bp	15.8 bp −$16	34.1 bp −$341	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 NBISUSDT	0.0000%	8h	235.20	+0.715%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.16	+0.698%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.21	+0.719%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.17	+0.702%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.98	+0.619%	$4K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.17	+0.702%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.19	+0.711%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.15	+0.694%	$1.6M	$961K	10x	as long as short
Nado NBIS-PERP	+0.0008%	1h	234.96	+0.614%	$64K	$99K	3x	as long as short
QFEX NBIS-USD	+0.0023%	1h	235.11	+0.677%	$1.5M	$4.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	234.89	+0.582%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.34	+0.775%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.10	+0.672%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.13	+0.685%	$47	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.15	+0.694%	$164K	$500K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0081%	1h	235.10	+0.672%	$55.1M	$19.6M	10x	as long as short
Variational Omni NBIS	+0.0089%	8h	235.12	+0.680%	$2.9M	$566K	—	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.95	+0.608%	$484K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.17	+0.702%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.18	+0.708%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0104%	1h	233.53	long leg	$382K	$712K	10x
Aster NBISUSDT	+0.0124%	8h	235.11	+0.675%	$81K	$307K	50x	as long as short
Extended NBIS-USD	+0.0128%	1h	235.15	+0.694%	$146K	$706K	10x	as long as short
Binance NBISUSDT	+0.0130%	8h	235.23	+0.728%	$19.2M	$84.5M	25x	as long as short
BloFin NBIS-USDT	+0.0143%	8h	235.26	+0.741%	$207K	$205K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0151%	1h	235.12	+0.679%	$24K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0218%	1h	235.12	+0.681%	$35K	$48K	10x	as long as short
Lighter NBIS	+0.0280%	1h	235.22	+0.724%	$900K	$4.3M	10x	as long as short
Phoenix NBISshort	+0.0308%	1h	235.09	+0.668%	$7K	$150K	10x
edgeX NBISUSDC	+0.0524%	4h	234.92	+0.594%	$38K	$227K	10x	as long as short
Entropy io:NBIS	+0.0532%	1h	234.99	+0.625%	$10.2M	$3.3M	10x	as long as short