Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.050%

Price spread now: Orderly against Lighter−0.166%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Orderly is 0.166% cheaper against Lighter than usual: you would sell low and buy high (−$17 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	228.33	0.0112	pay 0.0014% / 1h	24m 12s	$908K	$4.1M	10x
Short	Orderly PERP_NBIS_USDC_mythos	227.95	0.0100	get 0.0100% / 8h	7h 24m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.166%Rate

Funding earned: −$2.52
Price spread: −0.166% → 0.000%: −$16.64
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$25.16
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 8 min ago; Orderly: no order-book sample. Net counts fees only.

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, 8 min ago	0.44 bp	0.6 bp −$1	5.1 bp −$51	92.1 bp −$9,211	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0221%	8h	228.50	+0.074%	$2.3M	$4.6M	20x	as long as short
BloFin NBIS-USDT	−0.0023%	8h	227.57	−0.333%	$201K	$212K	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	226.87	−0.639%	$352K	$801K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	228.00	−0.146%	$73K	$320K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	228.15	−0.079%	$145K	$854K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	228.56	+0.099%	$18.3M	$89.5M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	228.47	+0.061%	$4.8M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	228.36	+0.013%	$3.2M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	228.34	+0.004%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	227.33	−0.440%	$2.8M	$598K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NBIS_USDT_Perp	0.0000%	8h	227.44	−0.388%	$4K	$113K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	228.29	−0.018%	$982	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	227.64	−0.302%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	228.45	+0.053%	$1.5M	$971K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	227.94	−0.171%	$41K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	227.76	−0.250%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	228.00	−0.145%	$135K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	227.93	−0.175%	$68	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	227.57	−0.333%	$146K	$530K	10x	as long as short
Nado NBIS-PERP	+0.0064%	1h	228.03	−0.132%	$38K	$116K	3x	as long as short
QFEX NBIS-USD	+0.0064%	1h	228.14	−0.083%	$1.5M	$3.7M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0090%	1h	228.42	+0.039%	$53.2M	$21.5M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	227.94	−0.171%	$469K	$71K	20x	as long as short
Orderly PERP_NBIS_USDC_mythosshort	+0.0100%	8h	227.95	−0.166%	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	227.95	−0.167%	—	—	10x	as long as short
Lighter NBISlong	+0.0112%	1h	228.33	long leg	$908K	$4.1M	10x
Phoenix NBIS	+0.0277%	1h	227.02	−0.574%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0299%	1h	227.59	−0.324%	$9.9M	$3.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0320%	1h	228.33	0.000%	$34K	$49K	10x	as long as short
edgeX NBISUSDC	+0.0591%	4h	227.46	−0.379%	$37K	$226K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0684%	1h	228.22	−0.049%	$22K	$16K	20x	as long as short