Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0296%/8h= +32.4% APRpaid last 24h +0.085%

Price spread now: Lighter against OKX0.000%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs+$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.462%+$46 on $10k

Price spread, last 7 days−0.002%$0 · spread now 0.000%, 7d avg +0.022%

Together, before fees+0.460%+ Points / potential airdropLighter: Season 3 · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.022% cheaper against OKX than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.022%). If the spread goes back, that is −$2 on $10k: about 6 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NBIS-USDT-SWAP	230.63	0	get 0.0000% / 8h	50m 59s	$3.3M	$16.1M	25x
Short	Lighter NBIS	230.63	0.0296	get 0.0037% / 1h	50m 59s	$933K	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now 0.000%Rate

Funding earned: $62.16
Price spread: 0.000% → +0.022%: −$2.17
Slippage, 4 orders: −$13.72
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $36.27
Costs to cover: 0.237%
Break-even: 2.9 days

Slippage from OKX: live order book, 2 min ago; Lighter: live order book, 7 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, 2 min ago	1.30 bp	8.8 bp −$9	26.2 bp −$262	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.65 bp	2.2 bp −$2	5.3 bp −$53	96.3 bp −$9,635	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	−0.0536%	8h	230.69	+0.026%	$2.3M	$4.6M	20x	as long as short
BloFin NBIS-USDT	−0.0003%	8h	230.66	+0.013%	$204K	$205K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.50	−0.056%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.55	−0.036%	$149K	$631K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.61	−0.007%	$18.5M	$87.6M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.63	0.000%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAPlong	0.0000%	8h	230.63	long leg	$3.3M	$16.1M	25x
Gate NBIS_USDT	0.0000%	8h	230.63	0.000%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.84	+0.092%	$2.8M	$595K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.70	+0.030%	$4K	$116K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	230.63	0.000%	$996	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.77	+0.061%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.68	+0.022%	$1.6M	$966K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.56	−0.030%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	230.54	−0.039%	$1.5M	$3.8M	10x	as long as short
Nado NBIS-PERP	+0.0041%	1h	230.57	−0.024%	$38K	$116K	3x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.45	−0.078%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.52	−0.048%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.60	−0.013%	$120	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.50	−0.056%	$150K	$541K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.104%	$353K	$814K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0073%	1h	230.53	−0.043%	$54.2M	$21.1M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.47	−0.069%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.54	−0.039%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.53	−0.044%	—	—	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0141%	1h	230.55	−0.035%	$34K	$49K	10x	as long as short
Entropy io:NBIS	+0.0269%	1h	230.67	+0.017%	$10.0M	$3.1M	10x	as long as short
Lighter NBISshort	+0.0296%	1h	230.63	0.000%	$933K	$4.0M	10x
Phoenix NBIS	+0.0312%	1h	230.65	+0.009%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0444%	4h	230.66	+0.015%	$37K	$226K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0542%	1h	230.53	−0.043%	$23K	$15K	20x	as long as short