NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0248%/8h= −27.2% APRnext payment −$0.31 per $10,000 · paid last 24h −0.026%

Price spread now: Coinbase International against Lighter−0.214%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 3 days (all we have)+0.280%+$28 · spread now −0.214%, 7d avg +0.033%

Together, before fees+0.237%+ Points / potential airdropLighter: Season 3 · farm board+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Coinbase International is 0.247% cheaper against Lighter than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.033%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.043% in total (about -2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.31 per $10,000. 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	234.03	0.0352	pay 0.0044% / 1h	55m 26s	$903K	$4.3M	10x
Short	Coinbase International NBIS-PERP-INTX	233.53	0.0104	get 0.0013% / 1h	55m 26s	$382K	$712K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.214%Rate

Funding earned: −$52.08
Price spread: −0.214% → +0.033%: −$24.71
Slippage, 4 orders: −$20.89
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$107.68
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Coinbase International: live order book, 8 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, 7 min ago	1.07 bp	1.1 bp −$1	2.5 bp −$25	60.5 bp −$6,050	doesn't fit
Sell Coinbase International live order book, 8 min ago	9.19 bp	14.2 bp −$14	19.1 bp −$191	doesn't fit	doesn't fit

NBIS on 30 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	234.07	+0.017%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.03	0.000%	$3.4M	$16.3M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.14	+0.047%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.08	+0.021%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.04	+0.004%	$5K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.08	+0.021%	$904	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.74	−0.124%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.06	+0.013%	$1.6M	$969K	10x	as long as short
QFEX NBIS-USD	+0.0023%	1h	234.08	+0.021%	$1.5M	$4.4M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.91	−0.051%	$42K	$132K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	234.20	+0.073%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.02	−0.004%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.02	−0.004%	$5	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.96	−0.030%	$163K	$496K	10x	as long as short
Nado NBIS-PERP	+0.0060%	1h	233.88	−0.065%	$67K	$95K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.99	−0.017%	$482K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.05	+0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.02	−0.006%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0104%	1h	233.53	−0.214%	$382K	$712K	10x
Variational Omni NBIS	+0.0132%	8h	234.03	−0.002%	$2.8M	$570K	—	as long as short
Aster NBISUSDT	+0.0151%	8h	234.34	+0.133%	$81K	$307K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.09	+0.025%	$23K	$15K	20x	as long as short
Extended NBIS-USD	+0.0160%	1h	234.00	−0.011%	$147K	$698K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0162%	1h	234.02	−0.004%	$54.6M	$19.9M	10x	as long as short
Binance NBISUSDT	+0.0162%	8h	234.08	+0.020%	$19.1M	$84.7M	25x	as long as short
edgeX NBISUSDC	+0.0187%	4h	234.02	−0.006%	$38K	$226K	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.19	+0.068%	$7K	$150K	10x	as long as short
Lighter NBISlong	+0.0352%	1h	234.03	long leg	$903K	$4.3M	10x
Deribit NBIS_USDC-PERPETUAL	+0.0391%	1h	233.99	−0.017%	$35K	$48K	10x	as long as short
Entropy io:NBIS	+0.0475%	1h	234.00	−0.013%	$10.2M	$3.3M	10x	as long as short