Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0058%/8h= −6.3% APRpaid last 24h −0.033%

Price spread now: BloFin against Nado−0.010%7-day average +0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$860.856% of the position

Long on Nado Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now −0.010%, 7d avg +0.031%

Together, before fees+0.001%+ Points / potential airdropNado: Active · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and BloFin is 0.041% cheaper against Nado than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NBIS-PERP	232.71	0.0073	pay 0.0009% / 1h	50m 07s	$38K	$115K	3x
Short	BloFin NBIS-USDT	232.69	0.0015	get 0.0015% / 8h	2h 50m	$205K	$205K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Nado. 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 NadobpFee BloFinbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$12.16
Price spread: −0.010% → +0.031%: −$4.11
Slippage, 4 orders: −$66.61
Fee Nado: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$101.89
Costs to cover: 0.856%
Break-even: never at this rate

Slippage from Nado: live order book, 58 min ago; BloFin: live order book, 31 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 Nado live order book, 58 min ago	10.24 bp	34.0 bp −$34	485.2 bp −$4,852	doesn't fit	doesn't fit
Sell BloFin live order book, 31 min ago	0.21 bp	8.2 bp −$8	16.7 bp −$167	49.5 bp −$4,949	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	−0.0068%	8h	232.68	−0.015%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	232.65	−0.027%	$83K	$309K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.61	−0.044%	$145K	$753K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.66	−0.025%	$18.9M	$85.7M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.67	−0.019%	$5.0M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	232.61	−0.045%	$3.4M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.72	+0.003%	$2.7M	$5.0M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	232.77	+0.026%	$2.9M	$555K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.72	+0.004%	$5K	$118K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.75	+0.015%	$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
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	232.64	−0.032%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.96	+0.106%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.65	−0.027%	$1.6M	$956K	10x	as long as short
BloFin NBIS-USDTshort	+0.0015%	8h	232.69	−0.010%	$205K	$205K	20x
QFEX NBIS-USD	+0.0029%	1h	232.71	−0.002%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.50	−0.092%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	232.67	−0.019%	—	$217K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	232.66	−0.023%	$143K	$459K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	232.76	+0.020%	$161K	$507K	10x	as long as short
Nado NBIS-PERPlong	+0.0073%	1h	232.71	long leg	$38K	$115K	3x
KuCoin NBISUSDTM	+0.0100%	8h	232.63	−0.036%	$479K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.67	−0.019%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.61	−0.045%	—	—	10x	as long as short
SoDEX NBIS-USD	+0.0117%	1h	232.56	−0.066%	$107	$20K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0118%	1h	232.48	−0.101%	$54.2M	$20.2M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	232.30	−0.178%	$361K	$771K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0221%	1h	232.65	−0.026%	$23K	$15K	20x	as long as short
Phoenix NBIS	+0.0242%	1h	232.60	−0.049%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0376%	1h	232.72	+0.003%	$932K	$3.9M	10x	as long as short
Entropy io:NBIS	+0.0560%	1h	232.62	−0.040%	$10.1M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0915%	4h	232.68	−0.013%	$37K	$226K	10x	as long as short