Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.047%

Price spread now: Coinbase International against KuCoin−0.008%7-day average +0.147% · you buy dearer than you sell

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$233as in the Price arb table

costs, in and out, $10k−$2172.172% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.321%+$32 on $10k

Price spread, last 4 days (all we have)+0.154%+$15 · spread now −0.008%, 7d avg +0.147%

Together, before fees+0.475%+$48 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Coinbase International is 0.156% cheaper against KuCoin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.147%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.321%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NBISUSDTM	235.37	0.0100	pay 0.0100% / 8h	4h 38m	$485K	$21K	20x
Short	Coinbase International NBIS-PERP-INTX	235.35	0.0056	get 0.0007% / 1h	38m 30s	$389K	$724K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$9.24
Price spread: −0.008% → +0.147%: −$15.56
Slippage, 4 orders: −$195.15
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$241.95
Costs to cover: 2.172%
Break-even: never at this rate

Slippage from KuCoin: live order book, 44 min ago; Coinbase International: live order book, 20 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 KuCoin live order book, 44 min ago	21.76 bp	121.7 bp −$122	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 20 min ago	6.79 bp	11.8 bp −$12	18.5 bp −$185	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
Nado NBIS-PERP	−0.0151%	1h	235.51	+0.059%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.63	+0.110%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.56	+0.081%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.54	+0.072%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.56	+0.081%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.75	+0.161%	$5K	$119K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.85	+0.204%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.58	+0.089%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.62	+0.106%	$1.6M	$958K	10x	as long as short
Variational Omni NBIS	+0.0033%	8h	235.81	+0.185%	$2.9M	$572K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0038%	1h	235.51	+0.059%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.46	+0.038%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.77	+0.170%	—	$216K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0047%	1h	235.54	+0.072%	$35K	$48K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.47	+0.042%	$54.9M	$19.8M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.48	+0.047%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.57	+0.085%	$9	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.63	+0.110%	$161K	$504K	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0056%	1h	235.35	−0.008%	$389K	$724K	10x
BloFin NBIS-USDT	+0.0071%	8h	235.71	+0.144%	$207K	$205K	20x	as long as short
Aster NBISUSDT	+0.0077%	8h	235.54	+0.070%	$79K	$310K	50x	as long as short
Extended NBIS-USD	+0.0080%	1h	235.55	+0.077%	$147K	$702K	10x	as long as short
Binance NBISUSDT	+0.0082%	8h	235.61	+0.102%	$19.4M	$84.6M	25x	as long as short
Lighter NBIS	+0.0088%	1h	235.62	+0.106%	$899K	$4.0M	10x	as long as short
KuCoin NBISUSDTMlong	+0.0100%	8h	235.37	long leg	$485K	$21K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.64	+0.115%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.60	+0.100%	—	—	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.68	+0.132%	$7K	$150K	10x	as long as short
edgeX NBISUSDC	+0.0307%	4h	235.68	+0.132%	$38K	$225K	10x	as long as short
Entropy io:NBIS	+0.0416%	1h	235.56	+0.081%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.40	+0.012%	$24K	$15K	20x	as long as short