Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h −0.015%

Price spread now: QFEX against HTX−0.068%7-day average −0.030% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$380.375% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 3 days (all we have)+0.082%+$8 · spread now −0.068%, 7d avg −0.030%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.038% cheaper against HTX than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of −0.030%). If the spread goes back, that is −$4 on $10k: about 3.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NBIS-USDT	235.69	0	get 0.0000% / 8h	7h 54m	$15K	$113K	20x
Short	QFEX NBIS-USD	235.53	0.0038	get 0.0005% / 1h	54m 41s	$1.5M	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.068%Rate

Funding earned: $8.03
Price spread: −0.068% → −0.030%: −$3.76
Slippage, 4 orders: −$15.55
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$33.27
Costs to cover: 0.375%
Break-even: 36.0 days

Slippage from HTX: live order book, 16 min ago; QFEX: live order book, 9 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, 16 min ago	0.64 bp	10.7 bp −$11	24.2 bp −$242	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	2.56 bp	8.0 bp −$8	10.4 bp −$104	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
Kraken Futures PF_NBISUSD	−0.0179%	1h	235.39	−0.128%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.66	−0.013%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.49	−0.085%	$2.8M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.65	−0.017%	$2.5M	$4.7M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.57	−0.051%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.52	−0.072%	$35K	$48K	10x	as long as short
HTX NBIS-USDTlong	0.0000%	8h	235.69	long leg	$15K	$113K	20x
Phemex NBISUSDT	0.0000%	8h	235.55	−0.059%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	234.10	−0.675%	$359K	$678K	10x	as long as short
QFEX NBIS-USDshort	+0.0038%	1h	235.53	−0.068%	$1.5M	$5.2M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	235.76	+0.030%	—	$234K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.03	−0.280%	$174K	$505K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.34	−0.149%	$485K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.57	−0.051%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.76	−0.394%	—	—	10x	as long as short
Variational Omni NBIS	+0.0195%	8h	235.77	+0.033%	$2.9M	$817K	—	as long as short
Nado NBIS-PERP	+0.0202%	1h	235.54	−0.064%	$29K	$63K	3x	as long as short
Aster NBISUSDT	+0.0214%	8h	235.75	+0.025%	$81K	$308K	50x	as long as short
Extended NBIS-USD	+0.0232%	1h	235.56	−0.054%	$138K	$700K	10x	as long as short
Binance NBISUSDT	+0.0232%	8h	235.61	−0.035%	$19.5M	$86.1M	25x	as long as short
BloFin NBIS-USDT	+0.0252%	8h	235.56	−0.055%	$206K	$213K	20x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.24	−0.191%	$44K	$134K	5x	as long as short
Phoenix NBIS	+0.0376%	1h	234.94	−0.318%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0438%	4h	235.44	−0.107%	$38K	$228K	10x	as long as short
Lighter NBIS	+0.0480%	1h	235.67	−0.008%	$930K	$4.4M	10x	as long as short
Bybit NBISUSDT	+0.0549%	8h	235.74	+0.021%	$5.2M	$6.5M	50x	as long as short
GRVT NBIS_USDT_Perp	+0.0566%	8h	235.49	−0.085%	$5K	$137K	10x	as long as short
Entropy io:NBIS	+0.0781%	1h	235.32	−0.157%	$10.3M	$3.4M	10x	as long as short
SoDEX NBIS-USD	+0.1139%	1h	235.54	−0.064%	$9	$20K	10x	as long as short
Polymarket Perps NBIS-USD	+0.1840%	1h	235.33	−0.153%	$137K	$431K	10x	as long as short
tradeXYZ xyz:NBIS	+0.2104%	1h	235.41	−0.119%	$54.9M	$23.4M	10x	as long as short