Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0049%/8h= −5.4% APRpaid last 24h −0.019%

Price spread now: QFEX against KuCoin+0.081%56s7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1431.433% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.063%−$6 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now +0.081%, 7d avg +0.049%

Together, before fees−0.095%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.032% dearer against KuCoin than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of +0.049%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.2 days. The two prices were read 56 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	KuCoin NBISUSDTM	234.73	0.0100	pay 0.0100% / 8h	14m 47s	$484K	$25K	20x
Short	QFEX NBIS-USD	234.92	0.0051	get 0.0006% / 1h	14m 47s	$1.5M	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$10.32
Price spread: +0.081% → +0.049%: $3.24
Slippage, 4 orders: −$121.27
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$150.34
Costs to cover: 1.433%
Break-even: never at this rate

Slippage from KuCoin: live order book, 48 min ago; QFEX: live order book, 4 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, 48 min ago	19.25 bp	65.9 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.34 bp	7.3 bp −$7	9.2 bp −$92	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
Bybit NBISUSDT	0.0000%	8h	234.90	+0.072%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.93	+0.085%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.90	+0.072%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.93	+0.085%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.04	+0.132%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.82	+0.038%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	234.81	+0.034%	$360K	$679K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.07	+0.145%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.92	+0.081%	$1.6M	$975K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.15	+0.179%	—	$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	+0.094%	$142K	$738K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.89	+0.068%	$38	$20K	10x	as long as short
QFEX NBIS-USDshort	+0.0051%	1h	234.92	+0.081%	$1.5M	$5.2M	10x
Ondo Perps NBIS-USD.P	+0.0061%	1h	234.98	+0.107%	$174K	$499K	10x	as long as short
KuCoin NBISUSDTMlong	+0.0100%	8h	234.73	long leg	$484K	$25K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.90	+0.072%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.92	+0.081%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0197%	1h	234.80	+0.030%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	235.11	+0.160%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0235%	8h	235.15	+0.177%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0247%	8h	234.93	+0.085%	$206K	$214K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.63	−0.042%	$24K	$15K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0249%	8h	235.06	+0.139%	$5K	$138K	10x	as long as short
Binance NBISUSDT	+0.0253%	8h	234.94	+0.089%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USD	+0.0256%	1h	234.89	+0.066%	$139K	$703K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.94	+0.089%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0305%	1h	235.03	+0.128%	$54.8M	$23.4M	10x	as long as short
Lighter NBIS	+0.0368%	1h	235.00	+0.115%	$930K	$4.6M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.07	+0.145%	$7K	$163K	10x	as long as short
Entropy io:NBIS	+0.0490%	1h	234.93	+0.085%	$10.3M	$3.4M	10x	as long as short
edgeX NBISUSDC	+0.0874%	4h	235.04	+0.132%	$38K	$236K	10x	as long as short