Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.080%

Price spread now: tradeXYZ against HTX−0.229%49s7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.503% of the position

Long on HTX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.292%+$29 on $10k

Price spread, last 3 days (all we have)+0.247%+$25 · spread now −0.229%, 7d avg −0.016%

Together, before fees+0.539%+ Points / potential airdroptradeXYZ: Active · farm board+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.213% cheaper against HTX than usual: you would sell low and buy high (spread −0.229% now, against its 7-day average of −0.016%). If the spread goes back, that is −$21 on $10k: about 14 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.292% in total) that is about 5.1 days. The two prices were read 49 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	HTX NBIS-USDT	235.61	0	get 0.0000% / 8h	6h 58m	$15K	$66K	20x
Short	tradeXYZ xyz:NBIS	235.07	0.0050	get 0.0006% / 1h	58m 29s	$55.0M	$23.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.229%Rate

Funding earned: $10.5
Price spread: −0.229% → −0.016%: −$21.28
Slippage, 4 orders: −$20.35
Fee HTX: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$61.12
Costs to cover: 0.503%
Break-even: 47.7 days

Slippage from HTX: live order book, 7 min ago; tradeXYZ: live order book, 11 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, 7 min ago	2.33 bp	12.4 bp −$12	26.7 bp −$267	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 11 min ago	1.06 bp	11.5 bp −$12	15.7 bp −$157	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
Bybit NBISUSDT	0.0000%	8h	235.07	−0.229%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.06	−0.233%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.16	−0.191%	$2.8M	$4.9M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.35	−0.110%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.33	−0.119%	$35K	$48K	10x	as long as short
HTX NBIS-USDTlong	0.0000%	8h	235.61	long leg	$15K	$66K	20x
Phemex NBISUSDT	0.0000%	8h	235.40	−0.089%	$1.6M	$972K	10x	as long as short
Nado NBIS-PERP	+0.0007%	1h	235.16	−0.189%	$31K	$66K	3x	as long as short
QFEX NBIS-USD	+0.0024%	1h	235.17	−0.187%	$1.5M	$4.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.51	−0.042%	$43K	$134K	5x	as long as short

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	235.51	−0.042%	—	$223K	5x	as long as short
tradeXYZ xyz:NBISshort	+0.0050%	1h	235.07	−0.229%	$55.0M	$23.6M	10x
Polymarket Perps NBIS-USD	+0.0050%	1h	235.13	−0.204%	$142K	$462K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.36	−0.106%	$94	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.39	−0.093%	$174K	$507K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0095%	1h	235.31	−0.128%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.19	−0.178%	$485K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.11	−0.212%	$2K	$3K	10x	as long as short
Bitget NBISUSDT	+0.0101%	8h	235.24	−0.157%	$2.5M	$4.6M	20x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.40	−0.088%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+0.187%	$386K	$736K	10x	as long as short
Lighter NBIS	+0.0240%	1h	235.31	−0.127%	$918K	$4.4M	10x	as long as short
Aster NBISUSDT	+0.0261%	8h	235.49	−0.051%	$81K	$308K	50x	as long as short
Variational Omni NBIS	+0.0263%	8h	235.53	−0.034%	$2.9M	$591K	—	as long as short
Binance NBISUSDT	+0.0285%	8h	235.11	−0.212%	$19.5M	$85.4M	25x	as long as short
Extended NBIS-USD	+0.0288%	1h	235.19	−0.176%	$151K	$705K	10x	as long as short
BloFin NBIS-USDT	+0.0310%	8h	235.50	−0.047%	$207K	$210K	20x	as long as short
Entropy io:NBIS	+0.0342%	1h	235.47	−0.059%	$10.3M	$3.4M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0361%	8h	235.62	+0.004%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.61	0.000%	$7K	$149K	10x	as long as short
edgeX NBISUSDC	+0.0981%	4h	235.58	−0.013%	$38K	$227K	10x	as long as short