Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0214%/8h= −23.4% APRpaid last 24h +0.070%

Price spread now: edgeX against Lighter−0.026%49s7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1as 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−$340.342% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.336%+$34 on $10k

Price spread, last 4 days (all we have)+0.077%+$8 · spread now −0.026%, 7d avg −0.059%

Together, before fees+0.413%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.032% dearer against Lighter than usual: you sell high and buy low (spread −0.026% now, against its 7-day average of −0.059%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours. Mind the row above: over the last 7 days funding on this pair paid +0.336%, so the current rate has only just turned against you. The two prices were read 49 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	231.40	0.0312	pay 0.0039% / 1h	48m 37s	$946K	$4.0M	10x
Short	edgeX NBISUSDC	231.34	0.0098	get 0.0049% / 4h	1h 48m	$37K	$226K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$44.96
Price spread: −0.026% → −0.059%: $3.22
Slippage, 4 orders: −$25.2
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$75.94
Costs to cover: 0.342%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; edgeX: live order book, 58 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	0.43 bp	1.1 bp −$1	8.1 bp −$81	101.9 bp −$10.2K	doesn't fit
Sell edgeX live order book, 58 min ago	5.60 bp	16.4 bp −$16	doesn't fit	doesn't fit	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 NBISUSDT	−0.0407%	8h	231.37	−0.013%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.22	−0.078%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.24	−0.070%	$145K	$720K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.31	−0.040%	$18.6M	$87.2M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.38	−0.009%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.32	−0.035%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.35	−0.022%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.31	−0.038%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.41	+0.004%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.44	+0.017%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.58	+0.078%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.29	−0.048%	$1.6M	$962K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0010%	1h	231.25	−0.065%	$34K	$49K	10x	as long as short
BloFin NBIS-USDT	+0.0028%	8h	231.30	−0.043%	$205K	$206K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.21	−0.082%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.33	−0.030%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.34	−0.026%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.27	−0.056%	$83	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.25	−0.065%	$151K	$547K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	231.49	+0.039%	$1.5M	$3.9M	10x	as long as short
edgeX NBISUSDCshort	+0.0098%	4h	231.34	−0.026%	$37K	$226K	10x
KuCoin NBISUSDTM	+0.0100%	8h	231.14	−0.112%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.28	−0.052%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.26	−0.062%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0118%	1h	231.04	−0.155%	$38K	$115K	3x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	231.07	−0.143%	$351K	$813K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0189%	1h	231.28	−0.052%	$54.4M	$21.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.41	+0.004%	$7K	$150K	10x	as long as short
Lighter NBISlong	+0.0312%	1h	231.40	long leg	$946K	$4.0M	10x
Entropy io:NBIS	+0.0497%	1h	231.35	−0.022%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0683%	1h	231.30	−0.044%	$23K	$15K	20x	as long as short