Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0248%/8h= −27.2% APRpaid last 24h −0.124%

Price spread now: SunX against Kraken Futures+0.175%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 SunX

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. SunX is 0.175% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.175% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$7 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	234.63	0.0248	pay 0.0031% / 1h	15m 03s	$24K	$15K	20x
Short	SunX NBIS-USDT	235.04	0	get 0.0000% / 8h	15m 03s	$1K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.175%Rate

Funding earned: −$52.09
Price spread: +0.175% → 0.000%: $17.45
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$52.64
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; SunX: live order book, 10 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 SunX live order book, 10 min ago	44.93 bp	64.1 bp −$64	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
Bybit NBISUSDT	0.0000%	8h	234.90	+0.115%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.91	+0.119%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.90	+0.115%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.89	+0.111%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDTshort	0.0000%	8h	235.04	+0.175%	$1K	$1.8M	10x
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.82	+0.081%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	234.81	+0.077%	$360K	$679K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.07	+0.187%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.92	+0.123%	$1.6M	$975K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.15	+0.221%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	234.95	+0.136%	$142K	$738K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.89	+0.111%	$38	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.92	+0.123%	$1.5M	$5.2M	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0067%	1h	234.98	+0.149%	$174K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.75	+0.051%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.90	+0.115%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.92	+0.124%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0197%	1h	234.80	+0.072%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	235.11	+0.203%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0235%	8h	235.14	+0.216%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0247%	8h	234.93	+0.128%	$206K	$214K	20x	as long as short
Kraken Futures PF_NBISUSDlong	+0.0248%	1h	234.63	long leg	$24K	$15K	20x
GRVT NBIS_USDT_Perp	+0.0249%	8h	235.06	+0.182%	$5K	$138K	10x	as long as short
Binance NBISUSDT	+0.0253%	8h	234.93	+0.128%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USD	+0.0256%	1h	234.87	+0.100%	$139K	$703K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.93	+0.128%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0305%	1h	234.99	+0.153%	$54.8M	$23.4M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.07	+0.187%	$7K	$163K	10x	as long as short
Lighter NBIS	+0.0376%	1h	235.01	+0.162%	$932K	$4.6M	10x	as long as short
Entropy io:NBIS	+0.0489%	1h	234.92	+0.123%	$10.3M	$3.4M	10x	as long as short
edgeX NBISUSDC	+0.0874%	4h	235.04	+0.175%	$38K	$236K	10x	as long as short