Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0064%/8h= +7.1% APRpaid last 24h +0.012%

Price spread now: QFEX against Gate+0.039%7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$590.591% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 7 days−0.096%−$10 · spread now +0.039%, 7d avg −0.063%

Together, before fees−0.095%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.102% dearer against Gate than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NBIS_USDT	230.50	0	get 0.0000% / 8h	7h 01m	$2.7M	$5.2M	50x
Short	QFEX NBIS-USD	230.59	0.0064	get 0.0008% / 1h	1m 23s	$1.6M	$3.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.039%Rate

Funding earned: $13.52
Price spread: +0.039% → −0.063%: $10.23
Slippage, 4 orders: −$34.07
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$35.31
Costs to cover: 0.591%
Break-even: 25.3 days

Slippage from Gate: live order book, 2 min ago; QFEX: live order book, 7 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, 2 min ago	1.95 bp	17.7 bp −$18	31.8 bp −$318	58.5 bp −$5,849	doesn't fit
Sell QFEX live order book, 7 min ago	3.04 bp	9.7 bp −$10	12.9 bp −$129	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	−0.0079%	8h	230.46	−0.017%	$2.3M	$4.6M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	230.78	+0.121%	$382K	$869K	10x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.42	−0.035%	$3.3M	$16.4M	25x	as long as short
Gate NBIS_USDTlong	0.0000%	8h	230.50	long leg	$2.7M	$5.2M	50x
Variational Omni NBIS	0.0000%	8h	230.53	+0.014%	$2.8M	$598K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	230.61	+0.048%	$1K	$1.6M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.40	−0.043%	$1.5M	$971K	10x	as long as short
Aster NBISUSDT	+0.0005%	8h	230.18	−0.140%	$74K	$320K	50x	as long as short
BloFin NBIS-USDT	+0.0008%	8h	230.34	−0.069%	$200K	$214K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.53	+0.013%	$42K	$124K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NBISUSDT	+0.0045%	8h	230.45	−0.022%	$18.5M	$90.1M	25x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.40	−0.043%	—	$246K	5x	as long as short
Extended NBIS-USD	+0.0048%	1h	230.38	−0.050%	$144K	$856K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.36	−0.061%	$137K	$467K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.20	−0.130%	$149K	$539K	10x	as long as short
QFEX NBIS-USDshort	+0.0064%	1h	230.59	+0.039%	$1.6M	$3.7M	10x
KuCoin NBISUSDTM	+0.0100%	8h	230.27	−0.100%	$474K	$95K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.44	−0.026%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.39	−0.048%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0134%	1h	230.32	−0.077%	$38K	$116K	3x	as long as short
HTX NBIS-USDT	+0.0185%	8h	230.48	−0.009%	$13K	$62K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0189%	1h	230.39	−0.048%	$53.9M	$21.9M	10x	as long as short
Bybit NBISUSDT	+0.0240%	8h	230.42	−0.035%	$4.8M	$6.8M	50x	as long as short
Lighter NBIS	+0.0248%	1h	230.62	+0.052%	$924K	$4.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0271%	1h	230.40	−0.043%	$34K	$50K	10x	as long as short
Phoenix NBIS	+0.0277%	1h	230.48	−0.009%	$7K	$125K	10x	as long as short
SoDEX NBIS-USD	+0.0409%	1h	230.44	−0.026%	$78	$20K	10x	as long as short
Entropy io:NBIS	+0.0415%	1h	230.41	−0.039%	$10.1M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0677%	1h	230.48	−0.010%	$22K	$16K	20x	as long as short
edgeX NBISUSDC	+0.0741%	4h	230.53	+0.012%	$37K	$227K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0765%	8h	230.54	+0.017%	$5K	$114K	10x	as long as short