Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.089%

Price spread now: Coinbase International against OKX−0.123%7-day average +0.101% · you buy dearer than you sell

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.429%+$43 on $10k

Price spread, last 3 days (all we have)+0.254%+$25 · spread now −0.123%, 7d avg +0.101%

Together, before fees+0.683%+$68 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.224% cheaper against OKX than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of +0.101%). If the spread goes back, that is −$22 on $10k: about 47 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.429% in total) that is about 3.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NBIS-USDT-SWAP	236.34	0	get 0.0000% / 8h	7h 27m	$3.4M	$16.8M	25x
Short	Coinbase International NBIS-PERP-INTX	236.05	0.0016	get 0.0002% / 1h	27m 21s	$386K	$739K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.123%Rate

Funding earned: $3.36
Price spread: −0.123% → +0.101%: −$22.36
Slippage, 4 orders: −$17.69
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$56.69
Costs to cover: 0.377%
Break-even: 125.1 days

Slippage from OKX: live order book, 1 min ago; Coinbase International: live order book, 46 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 OKX live order book, 1 min ago	1.06 bp	9.5 bp −$10	21.0 bp −$210	doesn't fit	doesn't fit
Sell Coinbase International live order book, 46 min ago	3.20 bp	8.7 bp −$9	16.0 bp −$160	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	236.22	−0.052%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAPlong	0.0000%	8h	236.34	long leg	$3.4M	$16.8M	25x
SunX NBIS-USDT	0.0000%	8h	236.28	−0.025%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	236.25	−0.038%	$15K	$112K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	236.37	+0.013%	$1.6M	$972K	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0016%	1h	236.05	−0.123%	$386K	$739K	10x
QFEX NBIS-USD	+0.0038%	1h	236.16	−0.076%	$1.5M	$5.0M	10x	as long as short
Gate NBIS_USDT	+0.0043%	8h	236.26	−0.034%	$2.8M	$5.1M	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	236.36	+0.008%	—	$224K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.64	−0.296%	$175K	$504K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NBISUSDT	+0.0083%	8h	236.31	−0.013%	$2.5M	$4.6M	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	236.01	−0.140%	$487K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	236.36	+0.008%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	236.31	−0.012%	—	—	10x	as long as short
Bybit NBISUSDT	+0.0120%	8h	236.29	−0.021%	$5.1M	$6.5M	50x	as long as short
Nado NBIS-PERP	+0.0191%	1h	236.05	−0.125%	$31K	$66K	3x	as long as short
SoDEX NBIS-USD	+0.0201%	1h	236.31	−0.013%	$57	$20K	10x	as long as short
Variational Omni NBIS	+0.0230%	8h	235.75	−0.250%	$2.9M	$820K	—	as long as short
Aster NBISUSDT	+0.0250%	8h	236.00	−0.143%	$82K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0253%	8h	236.22	−0.051%	$207K	$212K	20x	as long as short
Binance NBISUSDT	+0.0270%	8h	236.34	−0.002%	$19.7M	$85.7M	25x	as long as short
Extended NBIS-USD	+0.0272%	1h	236.26	−0.036%	$151K	$897K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0301%	1h	236.20	−0.059%	$35K	$48K	10x	as long as short
Lighter NBIS	+0.0336%	1h	236.37	+0.013%	$930K	$4.5M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0351%	1h	236.29	−0.021%	$134K	$436K	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.87	−0.199%	$44K	$132K	5x	as long as short
Phoenix NBIS	+0.0409%	1h	236.14	−0.085%	$7K	$163K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0435%	8h	235.71	−0.268%	$5K	$133K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0455%	1h	236.20	−0.059%	$55.3M	$23.7M	10x	as long as short
Entropy io:NBIS	+0.0905%	1h	235.93	−0.173%	$10.3M	$3.4M	10x	as long as short
edgeX NBISUSDC	+0.0983%	4h	236.10	−0.101%	$38K	$227K	10x	as long as short