Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0665%/8h= −72.8% APRpaid last 24h −0.065%

Price spread now: Bitget against Deribit+0.122%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bitget is 0.122% dearer against Deribit than usual: you sell high and buy low (spread +0.122% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NBIS_USDC-PERPETUAL	230.07	0.0577	pay 0.0072% / 1h	3m 37s	$34K	$50K	10x
Short	Bitget NBISUSDT	230.35	−0.0088	pay 0.0088% / 8h	7h 03m	$2.3M	$4.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$139.55
Price spread: +0.122% → 0.000%: $12.17
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$146.38
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Bitget: live order book, 4 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Bitget live order book, 4 min ago	2.82 bp	17.3 bp −$17	33.6 bp −$336	48.2 bp −$4,817	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bitget NBISUSDTshort	−0.0088%	8h	230.35	+0.122%	$2.3M	$4.6M	20x
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	230.78	+0.309%	$382K	$869K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	229.82	−0.108%	$74K	$320K	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.20	+0.057%	$3.2M	$16.3M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.25	+0.078%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.53	+0.201%	$2.8M	$598K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	230.27	+0.087%	$1K	$1.6M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.12	+0.022%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0010%	8h	230.56	+0.213%	$200K	$215K	20x	as long as short
Extended NBIS-USD	+0.0024%	1h	230.23	+0.068%	$144K	$856K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NBISUSDT	+0.0034%	8h	230.27	+0.087%	$18.5M	$90.0M	25x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.20	+0.057%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.20	+0.057%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.00	−0.030%	$137K	$466K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.33	+0.113%	$149K	$539K	10x	as long as short
QFEX NBIS-USD	+0.0064%	1h	230.24	+0.074%	$1.5M	$3.7M	10x	as long as short
edgeX NBISUSDC	+0.0092%	4h	230.49	+0.183%	$37K	$227K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.00	−0.030%	$473K	$94K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.13	+0.026%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.13	+0.028%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0121%	1h	229.79	−0.120%	$38K	$116K	3x	as long as short
HTX NBIS-USDT	+0.0131%	8h	230.57	+0.217%	$13K	$62K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0180%	1h	230.20	+0.057%	$53.9M	$21.8M	10x	as long as short
Bybit NBISUSDT	+0.0226%	8h	230.27	+0.087%	$4.8M	$6.8M	50x	as long as short
Lighter NBIS	+0.0232%	1h	230.26	+0.083%	$922K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	230.48	+0.178%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0401%	1h	230.12	+0.022%	$10.0M	$3.2M	10x	as long as short
SoDEX NBIS-USD	+0.0433%	1h	230.20	+0.057%	$74	$20K	10x	as long as short
Deribit NBIS_USDC-PERPETUALlong	+0.0577%	1h	230.07	long leg	$34K	$50K	10x
Kraken Futures PF_NBISUSD	+0.0678%	1h	230.09	+0.007%	$22K	$16K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0723%	8h	230.60	+0.229%	$5K	$114K	10x	as long as short