Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0774%/8h= −84.8% APRpaid last 24h −0.093%

Price spread now: Bitget against Lighter−0.004%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.381%−$38 on $10k

Price spread, last 7 days0.000%$0 · spread now −0.004%, 7d avg −0.017%

Together, before fees−0.380%+ Points / potential airdropLighter: Season 3 · farm board−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$23 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.381% in total (about -19.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	231.94	0.0256	pay 0.0032% / 1h	13m 37s	$938K	$4.0M	10x
Short	Bitget NBISUSDT	231.93	−0.0518	pay 0.0518% / 8h	2h 13m	$2.3M	$4.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$162.54
Price spread: −0.004% → −0.017%: $1.27
Slippage, 4 orders: −$21.95
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$195.21
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Bitget: 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 Lighter live order book, 4 min ago	0.22 bp	0.9 bp −$1	2.7 bp −$27	63.6 bp −$6,356	doesn't fit
Sell Bitget live order book, 4 min ago	1.73 bp	13.9 bp −$14	27.4 bp −$274	40.8 bp −$4,079	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
Bitget NBISUSDTshort	−0.0518%	8h	231.93	−0.004%	$2.3M	$4.6M	20x
BloFin NBIS-USDT	−0.0027%	8h	231.41	−0.229%	$204K	$205K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.60	−0.148%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.86	−0.036%	$146K	$753K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.93	−0.004%	$18.6M	$86.9M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.89	−0.022%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.92	−0.009%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.97	+0.013%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.28	−0.284%	$2.9M	$555K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.22	−0.311%	$5K	$118K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	231.31	−0.272%	$999	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.14	−0.345%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.96	+0.009%	$1.6M	$955K	10x	as long as short
QFEX NBIS-USD	+0.0029%	1h	231.91	−0.013%	$1.5M	$3.9M	10x	as long as short
Nado NBIS-PERP	+0.0036%	1h	231.62	−0.140%	$38K	$115K	3x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.41	−0.229%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.46	−0.207%	—	$220K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.71	−0.099%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.65	−0.125%	$107	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.56	−0.164%	$150K	$542K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.63	−0.134%	$477K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.71	−0.099%	$2K	$3K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0102%	1h	231.89	−0.022%	$54.5M	$21.1M	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.66	−0.122%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	230.62	−0.569%	$353K	$792K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0222%	1h	231.68	−0.114%	$23K	$15K	20x	as long as short
Phoenix NBIS	+0.0242%	1h	231.41	−0.229%	$7K	$150K	10x	as long as short
Lighter NBISlong	+0.0256%	1h	231.94	long leg	$938K	$4.0M	10x
Deribit NBIS_USDC-PERPETUAL	+0.0268%	1h	231.77	−0.073%	$34K	$49K	10x	as long as short
Entropy io:NBIS	+0.0354%	1h	231.50	−0.190%	$10.1M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0406%	4h	231.38	−0.240%	$37K	$227K	10x	as long as short