Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0154%/8h= −16.9% APRpaid last 24h −0.077%

Price spread now: Binance against Lighter−0.047%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$200.196% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.418%−$42 on $10k

Price spread, last 7 days+0.001%$0 · spread now −0.047%, 7d avg −0.008%

Together, before fees−0.418%+ Points / potential airdropLighter: Season 3 · farm board−$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.039% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	235.33	0.0280	pay 0.0035% / 1h	10m 04s	$901K	$4.3M	10x
Short	Binance NBISUSDT	235.22	0.0126	get 0.0126% / 8h	5h 10m	$19.2M	$84.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.047%Rate

Funding earned: −$32.37
Price spread: −0.047% → −0.008%: −$3.89
Slippage, 4 orders: −$9.58
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$55.85
Costs to cover: 0.196%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Binance: live order book, 3 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 Lighter live order book, 2 min ago	0.43 bp	0.8 bp −$1	2.8 bp −$28	50.4 bp −$5,040	doesn't fit
Sell Binance live order book, 3 min ago	0.85 bp	9.2 bp −$9	23.8 bp −$238	77.4 bp −$7,737	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	235.20	−0.055%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.28	−0.021%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.32	−0.004%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.27	−0.025%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.19	−0.060%	$4K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.28	−0.021%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.19	−0.059%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.31	−0.008%	$1.6M	$961K	10x	as long as short
Nado NBIS-PERP	+0.0004%	1h	235.10	−0.098%	$64K	$99K	3x	as long as short
QFEX NBIS-USD	+0.0023%	1h	235.20	−0.055%	$1.5M	$4.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	234.98	−0.149%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.40	+0.030%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.21	−0.051%	$150K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.29	−0.017%	$66	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.00	−0.140%	$164K	$499K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0079%	1h	235.16	−0.072%	$55.1M	$19.6M	10x	as long as short
Variational Omni NBIS	+0.0085%	8h	235.11	−0.094%	$2.9M	$566K	—	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0090%	1h	235.19	−0.059%	$35K	$48K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.03	−0.127%	$484K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.29	−0.017%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.25	−0.032%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.765%	$382K	$712K	10x	as long as short
BloFin NBIS-USDT	+0.0109%	8h	235.12	−0.089%	$207K	$204K	20x	as long as short
Aster NBISUSDT	+0.0120%	8h	235.20	−0.057%	$81K	$307K	50x	as long as short
Binance NBISUSDTshort	+0.0126%	8h	235.22	−0.047%	$19.2M	$84.5M	25x
Extended NBIS-USD	+0.0128%	1h	235.16	−0.071%	$147K	$706K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0151%	1h	235.15	−0.078%	$24K	$15K	20x	as long as short
Lighter NBISlong	+0.0280%	1h	235.33	long leg	$901K	$4.3M	10x
Phoenix NBIS	+0.0308%	1h	235.09	−0.102%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0528%	1h	235.11	−0.093%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0850%	4h	235.15	−0.077%	$38K	$225K	10x	as long as short