Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h +0.064%

Price spread now: Kraken Futures against Gate−0.068%7-day average — · you buy dearer than you sell

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

Long on Gate Short on Kraken Futures

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 −$5 a day on $10k at the current rate, and Kraken Futures is 0.068% cheaper against Gate than usual: you would sell low and buy high (−$7 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	Gate NBIS_USDT	235.69	0	get 0.0000% / 8h	7h 05m	$2.8M	$5.1M	50x
Short	Kraken Futures PF_NBISUSD	235.53	−0.0178	pay 0.0022% / 1h	5m 28s	$24K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$37.47
Price spread: −0.068% → 0.000%: −$6.79
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$69.26
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 3 min ago; Kraken Futures: no order-book sample. 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 Gate live order book, 3 min ago	3.39 bp	12.6 bp −$13	28.7 bp −$287	53.4 bp −$5,344	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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_NBISUSDshort	−0.0178%	1h	235.53	−0.068%	$24K	$15K	20x
OKX NBIS-USDT-SWAP	0.0000%	8h	235.68	−0.004%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDTlong	0.0000%	8h	235.69	long leg	$2.8M	$5.1M	50x
SunX NBIS-USDT	0.0000%	8h	235.60	−0.038%	$978	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.55	−0.059%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.73	+0.017%	$15K	$106K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.71	+0.008%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.153%	$386K	$737K	10x	as long as short
Bybit NBISUSDT	+0.0037%	8h	235.77	+0.034%	$5.1M	$6.4M	50x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.58	−0.047%	$1.5M	$4.9M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	235.97	+0.119%	—	$224K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.52	−0.072%	$175K	$502K	10x	as long as short
SoDEX NBIS-USD	+0.0085%	1h	235.68	−0.004%	$85	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.48	−0.089%	$486K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.67	−0.008%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.64	−0.020%	—	—	10x	as long as short
Bitget NBISUSDT	+0.0116%	8h	235.65	−0.017%	$2.5M	$4.6M	20x	as long as short
Nado NBIS-PERP	+0.0145%	1h	235.65	−0.017%	$31K	$66K	3x	as long as short
Polymarket Perps NBIS-USD	+0.0160%	1h	235.64	−0.021%	$142K	$462K	10x	as long as short
Variational Omni NBIS	+0.0256%	8h	235.67	−0.008%	$2.9M	$591K	—	as long as short
BloFin NBIS-USDT	+0.0260%	8h	235.75	+0.025%	$207K	$211K	20x	as long as short
Aster NBISUSDT	+0.0262%	8h	235.85	+0.069%	$82K	$308K	50x	as long as short
Binance NBISUSDT	+0.0286%	8h	235.70	+0.004%	$19.6M	$85.4M	25x	as long as short
Extended NBIS-USD	+0.0288%	1h	235.64	−0.021%	$151K	$705K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0294%	1h	235.68	−0.004%	$55.1M	$23.6M	10x	as long as short
Lighter NBIS	+0.0296%	1h	235.80	+0.047%	$920K	$4.5M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.62	−0.030%	$44K	$132K	5x	as long as short
GRVT NBIS_USDT_Perp	+0.0378%	8h	235.55	−0.057%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.90	+0.089%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0499%	4h	235.71	+0.009%	$38K	$226K	10x	as long as short
Entropy io:NBIS	+0.0866%	1h	235.64	−0.021%	$10.3M	$3.4M	10x	as long as short