Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.006%

Price spread now: Ondo Perps against GRVT+0.026%53s7-day average −0.029% · you sell dearer than you buy

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

Long on GRVT Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 4 days (all we have)−0.743%−$74 · spread now +0.026%, 7d avg −0.029%

Together, before fees−0.714%+ Points / potential airdropGRVT: Active · Ondo Perps: Active · farm board−$71 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 Ondo Perps is 0.055% dearer against GRVT than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.029%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT NBIS_USDT_Perp	233.90	0	get 0.0000% / 8h	5h 56m	$5K	$127K	10x
Short	Ondo Perps NBIS-USD.P	233.96	0.0050	get 0.0006% / 1h	56m 20s	$163K	$496K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.026%Rate

Funding earned: $10.58
Price spread: +0.026% → −0.029%: $5.47
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $2.06
Costs to cover: 0.140%
Break-even: 5.6 days

Slippage unknown: GRVT: live order book, 1 min ago; Ondo Perps: 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, 1 min ago	1.92 bp	12.3 bp −$12	32.1 bp −$321	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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 30 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
Bybit NBISUSDT	0.0000%	8h	234.07	+0.073%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.94	+0.017%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.10	+0.086%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.08	+0.077%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perplong	0.0000%	8h	233.90	long leg	$5K	$127K	10x
SunX NBIS-USDT	0.0000%	8h	234.08	+0.077%	$904	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.74	−0.068%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.06	+0.068%	$1.6M	$969K	10x	as long as short
QFEX NBIS-USD	+0.0023%	1h	234.08	+0.077%	$1.5M	$4.4M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.89	−0.004%	$42K	$132K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	234.18	+0.120%	—	$215K	5x	as long as short
Nado NBIS-PERP	+0.0048%	1h	233.87	−0.011%	$67K	$95K	3x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.04	+0.060%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.02	+0.051%	$5	$20K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	233.96	+0.026%	$163K	$496K	10x
KuCoin NBISUSDTM	+0.0100%	8h	234.01	+0.047%	$482K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.03	+0.056%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.02	+0.050%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.158%	$382K	$712K	10x	as long as short
Variational Omni NBIS	+0.0141%	8h	233.95	+0.023%	$2.8M	$570K	—	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.09	+0.080%	$23K	$15K	20x	as long as short
Aster NBISUSDT	+0.0153%	8h	234.36	+0.196%	$81K	$307K	50x	as long as short
Extended NBIS-USD	+0.0160%	1h	233.98	+0.035%	$147K	$698K	10x	as long as short
Binance NBISUSDT	+0.0163%	8h	234.04	+0.060%	$19.1M	$84.7M	25x	as long as short
tradeXYZ xyz:NBIS	+0.0218%	1h	234.02	+0.051%	$54.6M	$19.9M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.08	+0.077%	$7K	$149K	10x	as long as short
Lighter NBIS	+0.0328%	1h	234.03	+0.056%	$903K	$4.3M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0391%	1h	233.99	+0.038%	$35K	$48K	10x	as long as short
edgeX NBISUSDC	+0.0480%	4h	233.91	+0.003%	$38K	$227K	10x	as long as short
Entropy io:NBIS	+0.0485%	1h	234.00	+0.043%	$10.2M	$3.3M	10x	as long as short