Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: Polymarket Perps against OKX−0.086%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$300.295% of the position

Long on OKX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.401%+$40 · spread now −0.086%, 7d avg +0.003%

Together, before fees+0.394%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.088% cheaper against OKX than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.003%). If the spread goes back, that is −$9 on $10k: about 5.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NBIS-USDT-SWAP	233.54	0	get 0.0000% / 8h	6h 41m	$3.4M	$16.5M	25x
Short	Polymarket Perps NBIS-USD	233.34	0.0050	get 0.0006% / 1h	41m 08s	$148K	$468K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.086%Rate

Funding earned: $10.5
Price spread: −0.086% → +0.003%: −$8.82
Slippage, 4 orders: −$11.55
Fee OKX: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$27.87
Costs to cover: 0.295%
Break-even: 25.6 days

Slippage from OKX: live order book, 2 min ago; Polymarket Perps: live order book, 27 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	0.86 bp	6.7 bp −$7	27.1 bp −$271	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 27 min ago	1.91 bp	5.9 bp −$6	6.3 bp −$63	25.4 bp −$2,544	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
Bybit NBISUSDT	0.0000%	8h	233.55	+0.004%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAPlong	0.0000%	8h	233.54	long leg	$3.4M	$16.5M	25x
Gate NBIS_USDT	0.0000%	8h	233.58	+0.017%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.54	0.000%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.48	−0.026%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.78	+0.103%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.59	+0.021%	$1.6M	$972K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0007%	1h	233.40	−0.060%	$35K	$48K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.45	−0.039%	$1.5M	$4.7M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.55	+0.004%	$42K	$135K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	233.56	+0.009%	—	$226K	5x	as long as short
Polymarket Perps NBIS-USDshort	+0.0050%	1h	233.34	−0.086%	$148K	$468K	10x
SoDEX NBIS-USD	+0.0050%	1h	233.42	−0.051%	$98	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.39	−0.064%	$163K	$501K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0062%	8h	233.77	+0.096%	$5K	$130K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.41	−0.057%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.39	−0.064%	$481K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.45	−0.039%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.44	−0.041%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.075%	$386K	$721K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0130%	1h	233.43	−0.047%	$54.7M	$22.9M	10x	as long as short
Nado NBIS-PERP	+0.0170%	1h	233.27	−0.117%	$69K	$93K	3x	as long as short
Variational Omni NBIS	+0.0223%	8h	233.46	−0.035%	$2.8M	$570K	—	as long as short
Aster NBISUSDT	+0.0223%	8h	233.57	+0.012%	$81K	$314K	50x	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.214%	$207K	$209K	20x	as long as short
Extended NBIS-USD	+0.0240%	1h	233.41	−0.056%	$150K	$705K	10x	as long as short
Binance NBISUSDT	+0.0244%	8h	233.53	−0.003%	$19.2M	$85.2M	25x	as long as short
Lighter NBIS	+0.0296%	1h	233.57	+0.013%	$902K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.04	+0.214%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0339%	4h	233.68	+0.060%	$38K	$225K	10x	as long as short
Entropy io:NBIS	+0.0359%	1h	233.61	+0.030%	$10.1M	$3.4M	10x	as long as short