Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0540%/8h= −59.1% APRpaid last 24h −0.065%

Price spread now: OKX against Kraken Futures−0.022%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on OKX

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

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and OKX is 0.022% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NBISUSD	231.18	0.0540	pay 0.0068% / 1h	3m 00s	$23K	$15K	20x
Short	OKX NBIS-USDT-SWAP	231.13	0	get 0.0000% / 8h	3m 00s	$3.3M	$16.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$113.43
Price spread: −0.022% → 0.000%: −$2.21
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$135.64
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; OKX: live order book, just now. 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 OKX live order book, just now	1.08 bp	11.2 bp −$11	63.0 bp −$630	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	−0.0362%	8h	231.25	+0.030%	$2.3M	$4.6M	20x	as long as short
BloFin NBIS-USDT	−0.0024%	8h	231.21	+0.013%	$204K	$212K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.19	+0.005%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.17	−0.003%	$145K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.22	+0.018%	$18.8M	$88.0M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.22	+0.017%	$4.9M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	231.13	−0.022%	$3.3M	$16.0M	25x
Gate NBIS_USDT	0.0000%	8h	231.20	+0.008%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.07	−0.046%	$2.8M	$590K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.02	−0.070%	$4K	$115K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	231.25	+0.030%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	231.10	−0.035%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.04	−0.061%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.26	+0.034%	$1.6M	$972K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.95	−0.100%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.25	+0.030%	$1.5M	$3.7M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.07	−0.048%	—	$223K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.14	−0.018%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.20	+0.008%	$83	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.94	−0.104%	$150K	$542K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.90	−0.122%	$357K	$811K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.94	−0.104%	$476K	$31K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.15	−0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.13	−0.021%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0119%	1h	231.10	−0.035%	$54.1M	$21.2M	10x	as long as short
Nado NBIS-PERP	+0.0172%	1h	231.10	−0.037%	$38K	$116K	3x	as long as short
Lighter NBIS	+0.0256%	1h	231.18	0.000%	$940K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0312%	1h	231.11	−0.031%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0405%	1h	231.05	−0.057%	$10.1M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0505%	4h	230.94	−0.106%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSDlong	+0.0540%	1h	231.18	long leg	$23K	$15K	20x