Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0586%/8h= −64.1% APRpaid last 24h −0.038%

Price spread now: KuCoin against Kraken Futures+0.005%52s7-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 KuCoin

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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$18 a day on $10k at the current rate. The two prices were read 52 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	Kraken Futures PF_NBISUSD	230.48	0.0686	pay 0.0086% / 1h	40m 22s	$23K	$15K	20x
Short	KuCoin NBISUSDTM	230.49	0.0100	get 0.0100% / 8h	1h 40m	$475K	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$122.99
Price spread: +0.005% → 0.000%: $0.46
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$144.53
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 3 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 KuCoin live order book, 3 min ago	23.88 bp	62.1 bp −$62	doesn't fit	doesn't fit	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 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	−0.0493%	8h	230.57	+0.039%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.52	+0.018%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.65	+0.074%	$144K	$670K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.53	+0.022%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.53	+0.022%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.51	+0.013%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.55	+0.031%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.48	0.000%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.38	−0.045%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.52	+0.018%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	230.50	+0.009%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.51	+0.013%	$1.6M	$963K	10x	as long as short
BloFin NBIS-USDT	+0.0014%	8h	230.45	−0.013%	$204K	$205K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.49	+0.005%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.44	−0.017%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.45	−0.013%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.33	−0.065%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.31	−0.074%	$152K	$547K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.58	+0.044%	$1.5M	$3.9M	10x	as long as short
Nado NBIS-PERP	+0.0075%	1h	230.49	+0.005%	$37K	$115K	3x	as long as short
KuCoin NBISUSDTMshort	+0.0100%	8h	230.49	+0.005%	$475K	$20K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.50	+0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.38	−0.042%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.47	−0.004%	$351K	$812K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0136%	1h	230.49	+0.005%	$54.2M	$21.0M	10x	as long as short
Lighter NBIS	+0.0216%	1h	230.51	+0.013%	$946K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.47	−0.004%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0372%	1h	230.60	+0.052%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0470%	4h	230.86	+0.166%	$37K	$228K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0488%	1h	230.42	−0.026%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSDlong	+0.0686%	1h	230.48	long leg	$23K	$15K	20x