Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.085%

Price spread now: Coinbase International against HTX−0.086%7-day average +0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$540.540% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.498%+$50 on $10k

Price spread, last 3 days (all we have)+0.348%+$35 · spread now −0.086%, 7d avg +0.079%

Together, before fees+0.846%+$85 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.164% cheaper against HTX than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.079%). If the spread goes back, that is −$16 on $10k: about 4.0 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NBIS-USDT	233.19	0	get 0.0000% / 8h	2h 11m	$15K	$115K	20x
Short	Coinbase International NBIS-PERP-INTX	232.99	0.0136	get 0.0017% / 1h	11m 39s	$355K	$704K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.086%Rate

Funding earned: $28.56
Price spread: −0.086% → +0.079%: −$16.44
Slippage, 4 orders: −$31.96
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$41.84
Costs to cover: 0.540%
Break-even: 17.3 days

Slippage from HTX: live order book, 9 min ago; Coinbase International: live order book, 12 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 HTX live order book, 9 min ago	0.86 bp	11.2 bp −$11	29.5 bp −$295	doesn't fit	doesn't fit
Sell Coinbase International live order book, 12 min ago	10.50 bp	15.5 bp −$16	22.9 bp −$229	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
Aster NBISUSDT	0.0000%	8h	233.32	+0.055%	$79K	$304K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.29	+0.041%	$141K	$697K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	233.31	+0.051%	$19.4M	$87.1M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	233.20	+0.004%	$5.1M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.16	−0.013%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.26	+0.030%	$2.9M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.28	+0.039%	$2.5M	$4.7M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.19	+0.002%	$2.8M	$945K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	233.23	+0.015%	$5K	$148K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.31	+0.051%	$432	$1.8M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.24	+0.021%	$35K	$67K	10x	as long as short
HTX NBIS-USDTlong	0.0000%	8h	233.19	long leg	$15K	$115K	20x
Phemex NBISUSDT	0.0000%	8h	233.34	+0.064%	$1.6M	$963K	10x	as long as short
BloFin NBIS-USDT	+0.0012%	8h	233.32	+0.056%	$205K	$216K	20x	as long as short
QFEX NBIS-USD	+0.0033%	1h	233.28	+0.039%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.27	+0.034%	$44K	$134K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.42	+0.099%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.29	+0.043%	$130K	$588K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.28	+0.039%	$56	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.24	+0.021%	$180K	$514K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0056%	1h	233.08	−0.046%	$24K	$13K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.99	−0.086%	$480K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.30	+0.047%	$2K	$4K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.29	+0.042%	—	—	10x	as long as short
Lighter NBIS	+0.0120%	1h	233.31	+0.051%	$935K	$4.6M	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0136%	1h	232.99	−0.086%	$355K	$704K	10x
Nado NBIS-PERP	+0.0184%	1h	233.20	+0.006%	$28K	$65K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0186%	1h	233.35	+0.069%	$54.4M	$23.5M	10x	as long as short
Entropy io:NBIS	+0.0190%	1h	233.29	+0.043%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0276%	1h	233.41	+0.094%	$7K	$185K	10x	as long as short
edgeX NBISUSDC	+0.0292%	4h	233.33	+0.061%	$37K	$235K	10x	as long as short