Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0164%/8h= −17.9% APRpaid last 24h −0.050%

Price spread now: Bybit against Nado+0.031%49s7-day average — · you sell dearer than you buy

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

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.031% dearer against Nado than usual: you sell high and buy low (spread +0.031% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 15 hours. 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	Nado NBIS-PERP	233.56	0.0164	pay 0.0020% / 1h	42m 44s	$73K	$92K	3x
Short	Bybit NBISUSDT	233.63	0	get 0.0000% / 8h	6h 42m	$5.1M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$34.42
Price spread: +0.031% → 0.000%: $3.07
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$49.36
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Nado: no order-book sample; Bybit: live order book, 5 min ago. 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 Nado no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	2.35 bp	19.7 bp −$20	71.1 bp −$711	doesn't fit	doesn't fit

Nado: 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
Bybit NBISUSDTshort	0.0000%	8h	233.63	+0.031%	$5.1M	$6.3M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	233.50	−0.025%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.71	+0.065%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.64	+0.035%	$2.4M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.71	+0.065%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.78	+0.095%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.78	+0.095%	$1.6M	$972K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.70	+0.061%	$1.5M	$4.7M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.75	+0.082%	$42K	$135K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.79	+0.099%	—	$226K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	233.64	+0.035%	$149K	$471K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.63	+0.031%	$93	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.66	+0.044%	$163K	$511K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0062%	8h	233.77	+0.089%	$5K	$130K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.69	+0.056%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.55	−0.004%	$482K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.69	+0.056%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.66	+0.044%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.067%	$386K	$723K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0139%	1h	233.46	−0.042%	$54.8M	$22.8M	10x	as long as short
Nado NBIS-PERPlong	+0.0164%	1h	233.56	long leg	$73K	$92K	3x
Deribit NBIS_USDC-PERPETUAL	+0.0221%	1h	233.63	+0.031%	$35K	$48K	10x	as long as short
Aster NBISUSDT	+0.0225%	8h	233.77	+0.090%	$81K	$314K	50x	as long as short
Variational Omni NBIS	+0.0232%	8h	233.84	+0.120%	$2.9M	$560K	—	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.206%	$207K	$209K	20x	as long as short
Binance NBISUSDT	+0.0245%	8h	233.54	−0.008%	$19.2M	$85.3M	25x	as long as short
Extended NBIS-USD	+0.0248%	1h	233.54	−0.007%	$150K	$705K	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.04	+0.206%	$7K	$152K	10x	as long as short
Lighter NBIS	+0.0312%	1h	233.60	+0.018%	$903K	$4.4M	10x	as long as short
Entropy io:NBIS	+0.0370%	1h	233.76	+0.086%	$10.2M	$3.4M	10x	as long as short
edgeX NBISUSDC	+0.0990%	4h	233.83	+0.114%	$38K	$227K	10x	as long as short