Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.058%

Price spread now: Phemex against Gate+0.064%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$138as in the Price arb table

costs, in and out, $10k−$1461.460% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 3 days (all we have)−0.100%−$10 · spread now +0.064%, 7d avg −0.013%

Together, before fees−0.241%−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.076% dearer against Gate than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.013%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NBIS_USDT	235.41	0	get 0.0000% / 8h	7h 33m	$2.8M	$5.1M	50x
Short	Phemex NBISUSDT	235.56	0	get 0.0000% / 8h	7h 33m	$1.6M	$973K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.064%Rate

Funding earned: $0
Price spread: +0.064% → −0.013%: $7.64
Slippage, 4 orders: −$119.02
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$138.38
Costs to cover: 1.460%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago	2.76 bp	25.5 bp −$25	35.1 bp −$351	62.0 bp −$6,203	doesn't fit
Sell Phemex live order book, 4 min ago	2.54 bp	63.8 bp −$64	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
Kraken Futures PF_NBISUSD	−0.0179%	1h	235.17	−0.104%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.38	−0.013%	$3.4M	$16.8M	25x	as long as short
Gate NBIS_USDTlong	0.0000%	8h	235.41	long leg	$2.8M	$5.1M	50x
SunX NBIS-USDT	0.0000%	8h	235.47	+0.025%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.54	+0.055%	$15K	$112K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	235.56	+0.064%	$1.6M	$973K	10x
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.272%	$386K	$739K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.52	+0.047%	$1.5M	$5.0M	10x	as long as short
Bitget NBISUSDT	+0.0042%	8h	235.49	+0.034%	$2.5M	$4.7M	20x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.75	+0.144%	—	$224K	5x	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	235.41	0.000%	$175K	$505K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.32	−0.038%	$485K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.56	+0.064%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.54	+0.053%	—	—	10x	as long as short
Bybit NBISUSDT	+0.0120%	8h	235.49	+0.034%	$5.1M	$6.5M	50x	as long as short
SoDEX NBIS-USD	+0.0125%	1h	235.49	+0.034%	$33	$20K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0175%	1h	235.43	+0.008%	$35K	$48K	10x	as long as short
Nado NBIS-PERP	+0.0179%	1h	235.36	−0.022%	$29K	$63K	3x	as long as short
Variational Omni NBIS	+0.0225%	8h	235.53	+0.050%	$2.9M	$820K	—	as long as short
Aster NBISUSDT	+0.0234%	8h	235.71	+0.127%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0249%	8h	235.50	+0.038%	$207K	$212K	20x	as long as short
Extended NBIS-USD	+0.0256%	1h	235.41	+0.001%	$151K	$986K	10x	as long as short
Binance NBISUSDT	+0.0256%	8h	235.44	+0.013%	$19.5M	$85.7M	25x	as long as short
Lighter NBIS	+0.0288%	1h	235.46	+0.021%	$926K	$4.5M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.44	+0.013%	$44K	$132K	5x	as long as short
GRVT NBIS_USDT_Perp	+0.0368%	8h	235.42	+0.006%	$5K	$136K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.75	+0.144%	$7K	$163K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0416%	1h	235.51	+0.042%	$135K	$433K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0524%	1h	235.44	+0.013%	$55.1M	$23.6M	10x	as long as short
edgeX NBISUSDC	+0.0863%	4h	235.35	−0.025%	$38K	$228K	10x	as long as short
Entropy io:NBIS	+0.0883%	1h	235.45	+0.017%	$10.3M	$3.4M	10x	as long as short