Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0112%/8h= −12.2% APRpaid last 24h −0.033%

Price spread now: Binance against Kraken Futures+0.077%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Binance is 0.077% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.077% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NBISUSD	234.18	0.0369	pay 0.0046% / 1h	7m 18s	$22K	$10K	20x
Short	Binance NBISUSDT	234.36	0.0257	get 0.0257% / 8h	5h 07m	$20.7M	$91.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now +0.077%Rate

Funding earned: −$23.42
Price spread: +0.077% → 0.000%: $7.72
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$35.69
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 13 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Binance live order book, 13 min ago	1.28 bp	7.8 bp −$8	24.7 bp −$247	87.2 bp −$8,721	doesn't fit

Kraken Futures: 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 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	234.37	+0.082%	$3.3M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.33	+0.064%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.35	+0.073%	$2.3M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.43	+0.107%	$1K	$1.4M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.32	+0.060%	$1.6M	$970K	10x	as long as short
HTX NBIS-USDT	+0.0026%	8h	234.55	+0.158%	$13K	$62K	20x	as long as short
Vest NBIS-USD-PERP	+0.0049%	1h	234.64	+0.197%	—	$250K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0052%	1h	234.23	+0.022%	$151K	$534K	10x	as long as short
QFEX NBIS-USD	+0.0058%	1h	234.44	+0.111%	$1.6M	$3.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.15	−0.012%	$474K	$227K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.35	+0.073%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.40	+0.095%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	234.06	−0.051%	$383K	$868K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0158%	1h	234.39	+0.090%	$130K	$478K	10x	as long as short
Variational Omni NBIS	+0.0177%	8h	234.09	−0.038%	$2.9M	$631K	—	as long as short
SoDEX NBIS-USD	+0.0212%	1h	234.34	+0.069%	$1K	$20K	10x	as long as short
Aster NBISUSDT	+0.0219%	8h	234.65	+0.202%	$82K	$314K	50x	as long as short
Bybit NBISUSDT	+0.0220%	8h	234.46	+0.120%	$5.4M	$7.0M	50x	as long as short
BloFin NBIS-USDT	+0.0241%	8h	234.45	+0.116%	$207K	$219K	20x	as long as short
Nado NBIS-PERP	+0.0242%	1h	234.27	+0.039%	$38K	$85K	3x	as long as short
Extended NBIS-USD	+0.0256%	1h	234.29	+0.045%	$153K	$872K	10x	as long as short
Binance NBISUSDTshort	+0.0257%	8h	234.36	+0.077%	$20.7M	$91.3M	25x
Kraken Futures PF_NBISUSDlong	+0.0369%	1h	234.18	long leg	$22K	$10K	20x
Phoenix NBIS	+0.0377%	1h	234.21	+0.013%	$7K	$127K	10x	as long as short
Arcus NBIS-USD	+0.0413%	1h	234.45	+0.116%	$42K	$118K	5x	as long as short
edgeX NBISUSDC	+0.0418%	4h	234.35	+0.074%	$31K	$233K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0433%	1h	234.27	+0.039%	$35K	$48K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0458%	1h	234.32	+0.060%	$55.7M	$18.7M	10x	as long as short
Lighter NBIS	+0.0472%	1h	234.53	+0.150%	$951K	$3.8M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0545%	8h	234.41	+0.099%	$5K	$101K	10x	as long as short
Entropy io:NBIS	+0.0792%	1h	234.26	+0.035%	$10.2M	$2.9M	10x	as long as short