Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0343%/8h= −37.6% APRpaid last 24h −0.018%

Price spread now: HTX against Deribit−0.140%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on HTX

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

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and HTX is 0.140% cheaper against Deribit than usual: you would sell low and buy high (−$14 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NBIS_USDC-PERPETUAL	236.16	0.0343	pay 0.0043% / 1h	48m 37s	$35K	$48K	10x
Short	HTX NBIS-USDT	235.83	0	get 0.0000% / 8h	7h 48m	$15K	$113K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.140%Rate

Funding earned: −$72.07
Price spread: −0.140% → 0.000%: −$13.97
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$105.04
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; HTX: live order book, 22 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 HTX live order book, 22 min ago	0.64 bp	11.3 bp −$11	28.7 bp −$287	doesn't fit	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	236.03	−0.057%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	236.37	+0.089%	$3.4M	$17.1M	25x	as long as short
Bitget NBISUSDT	0.0000%	8h	236.36	+0.085%	$2.5M	$4.7M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	236.08	−0.034%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDTshort	0.0000%	8h	235.83	−0.140%	$15K	$113K	20x
Phemex NBISUSDT	0.0000%	8h	236.24	+0.034%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	235.49	−0.284%	$361K	$683K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	236.29	+0.055%	$1.5M	$5.1M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	236.54	+0.161%	—	$234K	5x	as long as short
Gate NBIS_USDT	+0.0049%	8h	236.25	+0.038%	$2.8M	$5.1M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NBIS-USD.P	+0.0050%	1h	236.21	+0.021%	$175K	$507K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	236.05	−0.047%	$487K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	236.20	+0.017%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.89	−0.113%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0186%	1h	236.06	−0.043%	$29K	$63K	3x	as long as short
Variational Omni NBIS	+0.0198%	8h	236.05	−0.045%	$2.9M	$817K	—	as long as short
BloFin NBIS-USDT	+0.0214%	8h	236.30	+0.059%	$206K	$214K	20x	as long as short
Aster NBISUSDT	+0.0223%	8h	236.02	−0.060%	$82K	$308K	50x	as long as short
Extended NBIS-USD	+0.0240%	1h	236.28	+0.050%	$138K	$782K	10x	as long as short
Binance NBISUSDT	+0.0240%	8h	236.34	+0.077%	$19.6M	$86.0M	25x	as long as short
Bybit NBISUSDT	+0.0258%	8h	236.35	+0.080%	$5.2M	$6.5M	50x	as long as short
Deribit NBIS_USDC-PERPETUALlong	+0.0343%	1h	236.16	long leg	$35K	$48K	10x
GRVT NBIS_USDT_Perp	+0.0352%	8h	235.50	−0.279%	$5K	$137K	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.85	−0.131%	$44K	$133K	5x	as long as short
Lighter NBIS	+0.0368%	1h	236.30	+0.059%	$930K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0409%	1h	236.34	+0.076%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0480%	4h	235.50	−0.278%	$38K	$228K	10x	as long as short
SoDEX NBIS-USD	+0.0646%	1h	236.18	+0.008%	$24	$20K	10x	as long as short
Entropy io:NBIS	+0.0863%	1h	235.90	−0.110%	$10.3M	$3.4M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0909%	1h	236.34	+0.076%	$140K	$429K	10x	as long as short
tradeXYZ xyz:NBIS	+0.1064%	1h	236.33	+0.072%	$55.3M	$23.6M	10x	as long as short