Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0231%/8h= −25.3% APRpaid last 24h −0.047%

Price spread now: BloFin against Lighter+0.021%90s7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

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

costs, in and out, $10k−$250.245% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.414%−$41 on $10k

Price spread, last 4 days (all we have)−0.149%−$15 · spread now +0.021%, 7d avg −0.044%

Together, before fees−0.564%+ Points / potential airdropLighter: Season 3 · farm board−$56 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.065% dearer against Lighter than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.044%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 23 hours. The two prices were read 90 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	Lighter NBIS	234.40	0.0472	pay 0.0059% / 1h	5m 39s	$951K	$3.8M	10x
Short	BloFin NBIS-USDT	234.45	0.0241	get 0.0241% / 8h	5h 05m	$207K	$219K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$48.61
Price spread: +0.021% → −0.044%: $6.52
Slippage, 4 orders: −$12.52
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$66.6
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; BloFin: live order book, 33 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, 5 min ago	1.07 bp	2.3 bp −$2	4.3 bp −$43	62.9 bp −$6,293	doesn't fit
Sell BloFin live order book, 33 min ago	0.21 bp	10.4 bp −$10	22.3 bp −$223	doesn't fit	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	234.25	−0.064%	$3.3M	$16.6M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.31	−0.038%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.27	−0.055%	$2.3M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.31	−0.038%	$1K	$1.4M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.26	−0.060%	$1.6M	$969K	10x	as long as short
HTX NBIS-USDT	+0.0029%	8h	234.55	+0.064%	$13K	$62K	20x	as long as short
Vest NBIS-USD-PERP	+0.0050%	1h	234.55	+0.064%	—	$250K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0056%	1h	234.23	−0.073%	$152K	$534K	10x	as long as short
QFEX NBIS-USD	+0.0058%	1h	234.29	−0.047%	$1.6M	$3.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.06	−0.145%	$474K	$230K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.24	−0.068%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.24	−0.066%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	234.06	−0.145%	$383K	$868K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0156%	1h	234.20	−0.085%	$129K	$478K	10x	as long as short
Variational Omni NBIS	+0.0203%	8h	234.20	−0.086%	$2.9M	$631K	—	as long as short
SoDEX NBIS-USD	+0.0209%	1h	234.22	−0.077%	$1K	$20K	10x	as long as short
Bybit NBISUSDT	+0.0225%	8h	234.33	−0.030%	$5.4M	$7.0M	50x	as long as short
Aster NBISUSDT	+0.0228%	8h	234.64	+0.101%	$82K	$314K	50x	as long as short
BloFin NBIS-USDTshort	+0.0241%	8h	234.45	+0.021%	$207K	$219K	20x
Nado NBIS-PERP	+0.0245%	1h	233.92	−0.205%	$38K	$85K	3x	as long as short
Extended NBIS-USD	+0.0264%	1h	234.24	−0.070%	$150K	$898K	10x	as long as short
Binance NBISUSDT	+0.0264%	8h	234.31	−0.038%	$20.7M	$91.3M	25x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0306%	1h	234.08	−0.137%	$35K	$48K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0369%	1h	234.03	−0.156%	$22K	$10K	20x	as long as short
Phoenix NBIS	+0.0377%	1h	234.21	−0.081%	$7K	$127K	10x	as long as short
Arcus NBIS-USD	+0.0413%	1h	234.29	−0.047%	$42K	$118K	5x	as long as short
edgeX NBISUSDC	+0.0418%	4h	234.35	−0.020%	$31K	$233K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0457%	1h	234.28	−0.051%	$55.7M	$18.7M	10x	as long as short
Lighter NBISlong	+0.0472%	1h	234.40	long leg	$951K	$3.8M	10x
GRVT NBIS_USDT_Perp	+0.0545%	8h	234.41	+0.004%	$5K	$101K	10x	as long as short
Entropy io:NBIS	+0.0789%	1h	234.28	−0.051%	$10.2M	$2.9M	10x	as long as short