Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.033%

Price spread now: Coinbase International against Gate+0.157%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$610.611% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.374%+$37 on $10k

Price spread, last 3 days (all we have)−0.057%−$6 · spread now +0.157%, 7d avg +0.067%

Together, before fees+0.317%+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Coinbase International is 0.090% dearer against Gate than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NBIS_USDT	235.68	0	get 0.0000% / 8h	7h 07m	$2.8M	$5.1M	50x
Short	Coinbase International NBIS-PERP-INTX	236.05	0.0016	get 0.0002% / 1h	7m 18s	$386K	$737K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.157%Rate

Funding earned: $3.36
Price spread: +0.157% → +0.067%: $9.03
Slippage, 4 orders: −$36.05
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$48.66
Costs to cover: 0.611%
Break-even: 108.4 days

Slippage from Gate: live order book, 1 min ago; Coinbase International: 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 Gate live order book, 1 min ago	3.39 bp	12.6 bp −$13	28.7 bp −$287	53.4 bp −$5,344	doesn't fit
Sell Coinbase International live order book, 1 min ago	4.88 bp	10.4 bp −$10	14.3 bp −$143	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.58	−0.043%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.76	+0.034%	$3.4M	$16.8M	25x	as long as short
Gate NBIS_USDTlong	0.0000%	8h	235.68	long leg	$2.8M	$5.1M	50x
SunX NBIS-USDT	0.0000%	8h	235.70	+0.008%	$978	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.73	+0.021%	$15K	$106K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.73	+0.021%	$1.6M	$972K	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0016%	1h	236.05	+0.157%	$386K	$737K	10x
QFEX NBIS-USD	+0.0038%	1h	235.66	−0.008%	$1.5M	$4.9M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	236.01	+0.140%	—	$224K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0047%	1h	235.60	−0.034%	$35K	$48K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NBISUSDT	+0.0050%	8h	235.78	+0.042%	$5.1M	$6.4M	50x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.52	−0.068%	$175K	$503K	10x	as long as short
SoDEX NBIS-USD	+0.0087%	1h	235.67	−0.004%	$80	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.50	−0.076%	$486K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.71	+0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.65	−0.012%	—	—	10x	as long as short
Bitget NBISUSDT	+0.0119%	8h	235.65	−0.013%	$2.5M	$4.6M	20x	as long as short
Nado NBIS-PERP	+0.0148%	1h	235.55	−0.054%	$31K	$66K	3x	as long as short
Polymarket Perps NBIS-USD	+0.0174%	1h	235.66	−0.008%	$142K	$462K	10x	as long as short
Variational Omni NBIS	+0.0252%	8h	235.56	−0.050%	$2.9M	$591K	—	as long as short
BloFin NBIS-USDT	+0.0260%	8h	235.75	+0.030%	$207K	$211K	20x	as long as short
Aster NBISUSDT	+0.0260%	8h	235.81	+0.057%	$82K	$308K	50x	as long as short
Extended NBIS-USD	+0.0280%	1h	235.67	−0.003%	$151K	$705K	10x	as long as short
Binance NBISUSDT	+0.0284%	8h	235.74	+0.026%	$19.6M	$85.4M	25x	as long as short
edgeX NBISUSDC	+0.0284%	4h	235.51	−0.071%	$38K	$226K	10x	as long as short
Lighter NBIS	+0.0296%	1h	235.75	+0.030%	$920K	$4.5M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0302%	1h	235.70	+0.008%	$55.2M	$23.6M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.60	−0.034%	$44K	$132K	5x	as long as short
GRVT NBIS_USDT_Perp	+0.0378%	8h	235.55	−0.053%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.90	+0.093%	$7K	$163K	10x	as long as short
Entropy io:NBIS	+0.0863%	1h	235.62	−0.025%	$10.3M	$3.4M	10x	as long as short