Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0208%/8h= −22.8% APRnext payment −$0.26 per $10,000 · paid last 24h —

Price spread now: Aevo against Lighter−0.039%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aevo is 0.039% cheaper against Lighter than usual: you would sell low and buy high (−$4 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	Lighter NBIS	235.93	0.0312	pay 0.0039% / 1h	30m 11s	$928K	$4.5M	10x
Short	Aevo NBIS-PERP	235.84	0.0104	get 0.0013% / 1h	30m 11s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Lighter. 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 LighterbpFee AevobpOrdersPrice spread, now −0.039%Rate

Funding earned: −$43.68
Price spread: −0.039% → 0.000%: −$3.88
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$63.56
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 3 min ago; Aevo: 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 Lighter live order book, 3 min ago	0.64 bp	0.9 bp −$1	2.8 bp −$28	68.7 bp −$6,869	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.63	−0.125%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.77	−0.068%	$3.4M	$16.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.72	−0.089%	$2.8M	$5.1M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.77	−0.068%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.80	−0.055%	$15K	$112K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.82	−0.047%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.051%	$386K	$739K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.68	−0.106%	$1.5M	$5.0M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.90	−0.013%	—	$224K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.64	−0.123%	$175K	$505K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NBISUSDT	+0.0053%	8h	235.77	−0.068%	$2.5M	$4.7M	20x	as long as short
Bybit NBISUSDT	+0.0099%	8h	235.80	−0.055%	$5.1M	$6.5M	50x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.58	−0.148%	$486K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.84	−0.038%	$2K	$3K	10x	as long as short
Aevo NBIS-PERPshort	+0.0104%	1h	235.84	−0.039%	—	—	10x
SoDEX NBIS-USD	+0.0135%	1h	235.75	−0.076%	$42	$20K	10x	as long as short
Nado NBIS-PERP	+0.0194%	1h	235.45	−0.204%	$29K	$63K	3x	as long as short
BloFin NBIS-USDT	+0.0228%	8h	235.72	−0.089%	$207K	$212K	20x	as long as short
Variational Omni NBIS	+0.0230%	8h	235.75	−0.077%	$2.9M	$820K	—	as long as short
Aster NBISUSDT	+0.0240%	8h	235.87	−0.025%	$82K	$308K	50x	as long as short
Extended NBIS-USD	+0.0264%	1h	235.79	−0.059%	$151K	$955K	10x	as long as short
Binance NBISUSDT	+0.0264%	8h	235.84	−0.038%	$19.6M	$85.6M	25x	as long as short
Lighter NBISlong	+0.0312%	1h	235.93	long leg	$928K	$4.5M	10x
Arcus NBIS-USD	+0.0366%	1h	235.51	−0.178%	$44K	$132K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0373%	1h	235.76	−0.072%	$135K	$433K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0384%	8h	235.42	−0.215%	$5K	$133K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.58	−0.148%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0424%	4h	235.38	−0.232%	$38K	$228K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0481%	1h	235.82	−0.047%	$55.2M	$23.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0514%	1h	235.87	−0.025%	$35K	$48K	10x	as long as short
Entropy io:NBIS	+0.0898%	1h	235.54	−0.165%	$10.3M	$3.4M	10x	as long as short