Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0438%/8h= −48.0% APRpaid last 24h +0.033%

Price spread now: tradeXYZ against GRVT+0.356%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$490.487% of the position

Long on GRVT Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

Price spread, last 4 days (all we have)−0.653%−$65 · spread now +0.356%, 7d avg −0.004%

Together, before fees−0.462%+ Points / potential airdropGRVT: Active · tradeXYZ: Active · farm board−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. tradeXYZ is 0.360% dearer against GRVT than usual: you sell high and buy low (spread +0.356% now, against its 7-day average of −0.004%): +$36 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 2.7 days. Mind the row above: over the last 7 days funding on this pair paid +0.191%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.191% in total (about 10.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT NBIS_USDT_Perp	230.41	0.0817	pay 0.0817% / 8h	6h 56m	$5K	$114K	10x
Short	tradeXYZ xyz:NBIS	231.23	0.0379	get 0.0047% / 1h	56m 54s	$54.3M	$22.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now +0.356%Rate

Funding earned: −$92.02
Price spread: +0.356% → −0.004%: $35.98
Slippage, 4 orders: −$21.75
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$104.79
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from GRVT: live order book, 30 min ago; tradeXYZ: live order book, 3 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 GRVT live order book, 30 min ago	2.64 bp	12.3 bp −$12	30.9 bp −$309	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 3 min ago	0.22 bp	11.4 bp −$11	17.2 bp −$172	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	−0.0058%	8h	231.24	+0.360%	$2.3M	$4.6M	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.17	+0.330%	$3.3M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.23	+0.356%	$2.7M	$5.0M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.37	−0.016%	$2.8M	$601K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	230.84	+0.187%	$1K	$1.6M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.06	+0.282%	$1.6M	$971K	10x	as long as short
Aster NBISUSDT	+0.0021%	8h	230.82	+0.176%	$74K	$320K	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.90	+0.213%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.90	+0.213%	$137K	$467K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.75	+0.148%	$149K	$536K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0054%	1h	230.91	+0.217%	$1.6M	$3.7M	10x	as long as short
BloFin NBIS-USDT	+0.0055%	8h	231.36	+0.412%	$202K	$215K	20x	as long as short
Extended NBIS-USD	+0.0056%	1h	231.11	+0.302%	$145K	$856K	10x	as long as short
Binance NBISUSDT	+0.0060%	8h	231.15	+0.323%	$18.8M	$90.6M	25x	as long as short
Nado NBIS-PERP	+0.0084%	1h	230.80	+0.168%	$38K	$116K	3x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	230.78	+0.161%	$382K	$869K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0097%	1h	230.83	+0.182%	$34K	$50K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.74	+0.143%	$468K	$103K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.00	+0.256%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.95	+0.236%	—	—	10x	as long as short
HTX NBIS-USDT	+0.0189%	8h	230.95	+0.234%	$13K	$62K	20x	as long as short
Bybit NBISUSDT	+0.0196%	8h	231.13	+0.313%	$4.9M	$6.8M	50x	as long as short
Arcus NBIS-USD	+0.0257%	1h	230.86	+0.195%	$42K	$124K	5x	as long as short
SoDEX NBIS-USD	+0.0266%	1h	231.04	+0.273%	$79	$20K	10x	as long as short
Phoenix NBIS	+0.0277%	1h	230.93	+0.226%	$7K	$127K	10x	as long as short
edgeX NBISUSDC	+0.0315%	4h	230.90	+0.212%	$37K	$226K	10x	as long as short
Lighter NBIS	+0.0344%	1h	231.06	+0.282%	$930K	$4.0M	10x	as long as short
tradeXYZ xyz:NBISshort	+0.0379%	1h	231.23	+0.356%	$54.3M	$22.0M	10x
Entropy io:NBIS	+0.0767%	1h	230.69	+0.122%	$10.1M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0769%	1h	231.02	+0.264%	$22K	$16K	20x	as long as short
GRVT NBIS_USDT_Perplong	+0.0817%	8h	230.41	long leg	$5K	$114K	10x