Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0722%/8h= −79.1% APRpaid last 24h −0.135%

Price spread now: Extended against edgeX+0.036%53s7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.618% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.735%−$73 on $10k

Price spread, last 4 days (all we have)−0.328%−$33 · spread now +0.036%, 7d avg −0.037%

Together, before fees−1.063%+ Points / potential airdropedgeX: Active · Extended: Active · farm board−$106 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.073% dearer against edgeX than usual: you sell high and buy low (spread +0.036% now, against its 7-day average of −0.037%): +$7 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 7 days (−0.735% in total) that is about 17 hours. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NBISUSDC	235.15	0.0850	pay 0.0425% / 4h	1h 10m	$38K	$225K	10x
Short	Extended NBIS-USD	235.23	0.0128	get 0.0016% / 1h	10m 33s	$147K	$706K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee ExtendedbpOrdersPrice spread, now +0.036%Rate

Funding earned: −$151.72
Price spread: +0.036% → −0.037%: $7.25
Slippage, 4 orders: −$47.8
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$206.27
Costs to cover: 0.618%
Break-even: never at this rate

Slippage from edgeX: live order book, 51 min ago; Extended: live order book, 52 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 edgeX live order book, 51 min ago	6.20 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 52 min ago	2.57 bp	12.5 bp −$13	118.0 bp −$1,180	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	235.24	+0.039%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.17	+0.009%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.27	+0.052%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.24	+0.039%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.19	+0.017%	$4K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.15	+0.001%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.19	+0.018%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.24	+0.039%	$1.6M	$961K	10x	as long as short
Nado NBIS-PERP	+0.0004%	1h	235.10	−0.020%	$64K	$99K	3x	as long as short
QFEX NBIS-USD	+0.0023%	1h	235.20	+0.022%	$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	234.98	−0.071%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.40	+0.107%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.21	+0.027%	$150K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.20	+0.022%	$52	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.00	−0.063%	$164K	$499K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0079%	1h	235.17	+0.009%	$55.1M	$19.6M	10x	as long as short
Variational Omni NBIS	+0.0085%	8h	235.11	−0.016%	$2.9M	$566K	—	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.01	−0.059%	$484K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.21	+0.027%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.18	+0.013%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.688%	$382K	$712K	10x	as long as short
BloFin NBIS-USDT	+0.0109%	8h	235.12	−0.012%	$207K	$204K	20x	as long as short
Aster NBISUSDT	+0.0120%	8h	235.15	+0.003%	$81K	$307K	50x	as long as short
Binance NBISUSDT	+0.0126%	8h	235.30	+0.063%	$19.2M	$84.5M	25x	as long as short
Extended NBIS-USDshort	+0.0128%	1h	235.23	+0.036%	$147K	$706K	10x
Kraken Futures PF_NBISUSD	+0.0151%	1h	235.14	−0.002%	$24K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0218%	1h	235.18	+0.014%	$35K	$48K	10x	as long as short
Lighter NBIS	+0.0280%	1h	235.31	+0.069%	$900K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	235.09	−0.025%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0528%	1h	235.11	−0.016%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDClong	+0.0850%	4h	235.15	long leg	$38K	$225K	10x