Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.014%

Price spread now: Ondo Perps against KuCoin+0.140%7-day average +0.040% · you sell dearer than you buy

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

Long on KuCoin Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 4 days (all we have)+0.144%+$14 · spread now +0.140%, 7d avg +0.040%

Together, before fees+0.119%+ Points / potential airdropOndo Perps: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.101% dearer against KuCoin than usual: you sell high and buy low (spread +0.140% now, against its 7-day average of +0.040%): +$10 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.8 days. At the pace of the last 7 days (−0.025% in total) that is about 28 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NBISUSDTM	235.19	0.0100	pay 0.0100% / 8h	5h 02m	$484K	$21K	20x
Short	Ondo Perps NBIS-USD.P	235.52	0.0050	get 0.0006% / 1h	2m 56s	$165K	$500K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$10.42
Price spread: +0.140% → +0.040%: $10.08
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$17.34
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 20 min ago; Ondo Perps: no order-book sample. 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 KuCoin live order book, 20 min ago	21.76 bp	121.7 bp −$122	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Nado NBIS-PERP	−0.0015%	1h	235.35	+0.068%	$64K	$100K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.35	+0.068%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.41	+0.094%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.37	+0.077%	$2.8M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.28	+0.038%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.56	+0.158%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.27	+0.034%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.22	+0.013%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.57	+0.162%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.38	+0.081%	$1.6M	$960K	10x	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	+0.0023%	1h	235.28	+0.038%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.27	+0.034%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.55	+0.153%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.30	+0.047%	$150K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.39	+0.085%	$56	$20K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	235.52	+0.140%	$165K	$500K	10x
tradeXYZ xyz:NBIS	+0.0065%	1h	235.28	+0.038%	$55.2M	$19.6M	10x	as long as short
Variational Omni NBIS	+0.0075%	8h	235.50	+0.131%	$2.9M	$565K	—	as long as short
KuCoin NBISUSDTMlong	+0.0100%	8h	235.19	long leg	$484K	$21K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.40	+0.089%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.36	+0.073%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	235.35	+0.068%	$389K	$725K	10x	as long as short
Aster NBISUSDT	+0.0112%	8h	235.37	+0.074%	$81K	$307K	50x	as long as short
Binance NBISUSDT	+0.0116%	8h	235.32	+0.055%	$19.2M	$84.5M	25x	as long as short
Extended NBIS-USD	+0.0120%	1h	235.30	+0.047%	$147K	$706K	10x	as long as short
BloFin NBIS-USDT	+0.0145%	8h	235.27	+0.034%	$207K	$204K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0151%	1h	235.19	0.000%	$24K	$15K	20x	as long as short
Lighter NBIS	+0.0264%	1h	235.41	+0.094%	$901K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	235.50	+0.132%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0518%	1h	235.39	+0.085%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0535%	4h	235.54	+0.151%	$38K	$227K	10x	as long as short