Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0264%/8h= +28.9% APRpaid last 24h −0.036%

Price spread now: Deribit against GRVT−0.210%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Deribit

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. Deribit is 0.210% cheaper against GRVT than usual: you would sell low and buy high (spread −0.210% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$21 on $10k: about 2.7 days of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT NBIS_USDT_Perp	233.27	0.0002	pay 0.0002% / 8h	2h 06m	$5K	$147K	10x
Short	Deribit NBIS_USDC-PERPETUAL	232.78	0.0266	get 0.0033% / 1h	6m 24s	$35K	$67K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GRVT. 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 GRVTbpFee DeribitbpOrdersPrice spread, now −0.210%Rate

Funding earned: $55.4
Price spread: −0.210% → 0.000%: −$21.01
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $18.39
Costs to cover: 0.160%
Break-even: 4.7 days

Slippage unknown: GRVT: live order book, 15 min ago; Deribit: 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 GRVT live order book, 15 min ago	1.50 bp	11.7 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Aster NBISUSDT	0.0000%	8h	232.93	−0.148%	$79K	$304K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.94	−0.139%	$141K	$697K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.98	−0.122%	$19.3M	$87.2M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.86	−0.176%	$5.1M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.00	−0.116%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.88	−0.167%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	232.94	−0.141%	$2.5M	$4.8M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.30	+0.013%	$2.8M	$945K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	232.97	−0.129%	$431	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.40	+0.056%	$15K	$115K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NBISUSDT	0.0000%	8h	233.02	−0.107%	$1.6M	$965K	10x	as long as short
GRVT NBIS_USDT_Perplong	+0.0002%	8h	233.27	long leg	$5K	$147K	10x
BloFin NBIS-USDT	+0.0008%	8h	233.07	−0.086%	$205K	$216K	20x	as long as short
QFEX NBIS-USD	+0.0033%	1h	232.86	−0.176%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.84	−0.184%	$43K	$134K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.11	−0.069%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	232.50	−0.330%	$137K	$635K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	232.95	−0.137%	$56	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.21	−0.026%	$180K	$514K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0057%	1h	232.75	−0.223%	$24K	$13K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.73	−0.231%	$480K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.95	−0.137%	$2K	$4K	10x	as long as short
Lighter NBIS	+0.0104%	1h	232.74	−0.227%	$933K	$4.6M	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.94	−0.144%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0136%	1h	232.99	−0.120%	$355K	$704K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0174%	1h	232.76	−0.219%	$54.3M	$23.5M	10x	as long as short
Entropy io:NBIS	+0.0176%	1h	232.98	−0.124%	$10.2M	$3.3M	10x	as long as short
Nado NBIS-PERP	+0.0185%	1h	232.61	−0.285%	$28K	$65K	3x	as long as short
Deribit NBIS_USDC-PERPETUALshort	+0.0266%	1h	232.78	−0.210%	$35K	$67K	10x
Phoenix NBIS	+0.0276%	1h	233.43	+0.069%	$7K	$185K	10x	as long as short
edgeX NBISUSDC	+0.0596%	4h	233.24	−0.015%	$37K	$234K	10x	as long as short