Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0956%/8h= −104.7% APRpaid last 24h −0.162%

Price spread now: Phemex against edgeX+0.072%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$214as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$1261.257% of the position

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.886%−$89 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.072%, 7d avg +0.019%

Together, before fees−0.982%+ Points / potential airdropedgeX: Active · farm board−$98 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.052% dearer against edgeX than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of +0.019%): +$5 on $10k if it goes back. Holding the pair costs −$29 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.886% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NBISUSDC	231.18	0.0956	pay 0.0478% / 4h	17m 19s	$37K	$227K	10x
Short	Phemex NBISUSDT	231.35	0	get 0.0000% / 8h	17m 19s	$1.6M	$970K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$200.81
Price spread: +0.072% → +0.019%: $5.23
Slippage, 4 orders: −$104.69
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$321.27
Costs to cover: 1.257%
Break-even: never at this rate

Slippage from edgeX: live order book, 20 min ago; Phemex: live order book, 1 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, 20 min ago	6.05 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	4.11 bp	53.3 bp −$53	doesn't fit	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
Bitget NBISUSDT	−0.0395%	8h	231.36	+0.076%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.23	+0.020%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.29	+0.046%	$144K	$879K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.35	+0.072%	$18.8M	$87.9M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.32	+0.059%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.24	+0.024%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.30	+0.050%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.98	−0.087%	$2.8M	$589K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.20	+0.006%	$4K	$115K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.24	+0.024%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.32	+0.059%	$15K	$57K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	231.35	+0.072%	$1.6M	$970K	10x
BloFin NBIS-USDT	+0.0005%	8h	231.36	+0.076%	$204K	$212K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.95	−0.101%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.38	+0.085%	$1.5M	$3.7M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.12	−0.028%	—	$223K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.17	−0.006%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.22	+0.015%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.344%	$353K	$805K	10x	as long as short
SoDEX NBIS-USD	+0.0056%	1h	231.28	+0.041%	$88	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.98	−0.089%	$476K	$24K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.25	+0.028%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.20	+0.006%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0109%	1h	231.09	−0.041%	$54.1M	$21.2M	10x	as long as short
Nado NBIS-PERP	+0.0181%	1h	230.99	−0.084%	$38K	$116K	3x	as long as short
Lighter NBIS	+0.0288%	1h	231.17	−0.006%	$945K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0312%	1h	231.02	−0.071%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0415%	1h	230.97	−0.093%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.22	+0.016%	$23K	$15K	20x	as long as short
edgeX NBISUSDClong	+0.0956%	4h	231.18	long leg	$37K	$227K	10x
Deribit NBIS_USDC-PERPETUAL	+0.1136%	1h	231.27	+0.037%	$34K	$49K	10x	as long as short