Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.006%

Price spread now: GRVT against Ondo Perps+0.045%53s7-day average +0.029% · you sell dearer than you buy

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

Long on Ondo Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 4 days (all we have)+0.673%+$67 · spread now +0.045%, 7d avg +0.029%

Together, before fees+0.643%+ Points / potential airdropOndo Perps: Active · GRVT: Active · farm board+$64 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 53 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	Ondo Perps NBIS-USD.P	233.66	0.0050	pay 0.0006% / 1h	42m 22s	$163K	$502K	10x
Short	GRVT NBIS_USDT_Perp	233.77	0.0062	get 0.0062% / 8h	6h 42m	$5K	$130K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Ondo Perps. 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 Ondo PerpsbpFee GRVTbpOrdersPrice spread, now +0.045%Rate

Funding earned: $2.44
Price spread: +0.045% → +0.029%: $1.59
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$9.98
Costs to cover: 0.140%
Break-even: 35.7 days

Slippage unknown: Ondo Perps: no order-book sample; GRVT: live order book, 20 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell GRVT live order book, 20 min ago	2.55 bp	14.6 bp −$15	30.1 bp −$301	doesn't fit	doesn't fit

Ondo Perps: 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 NBISUSDT	0.0000%	8h	233.56	−0.043%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.37	−0.124%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.56	−0.043%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.50	−0.068%	$2.4M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.71	+0.021%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.78	+0.051%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.78	+0.051%	$1.6M	$972K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.52	−0.060%	$1.5M	$4.7M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.67	+0.004%	$42K	$135K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.65	−0.004%	—	$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	233.42	−0.103%	$148K	$468K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.63	−0.013%	$93	$20K	10x	as long as short
Ondo Perps NBIS-USD.Plong	+0.0050%	1h	233.66	long leg	$163K	$502K	10x
GRVT NBIS_USDT_Perpshort	+0.0062%	8h	233.77	+0.045%	$5K	$130K	10x
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.69	+0.012%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.48	−0.077%	$481K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.46	−0.086%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.42	−0.101%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.023%	$386K	$723K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0136%	1h	233.40	−0.111%	$54.8M	$22.8M	10x	as long as short
Nado NBIS-PERP	+0.0177%	1h	233.46	−0.086%	$73K	$92K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0221%	1h	233.63	−0.013%	$35K	$48K	10x	as long as short
Aster NBISUSDT	+0.0225%	8h	233.75	+0.038%	$81K	$314K	50x	as long as short
Variational Omni NBIS	+0.0232%	8h	233.84	+0.077%	$2.9M	$560K	—	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.163%	$207K	$209K	20x	as long as short
Binance NBISUSDT	+0.0245%	8h	233.49	−0.072%	$19.2M	$85.3M	25x	as long as short
Extended NBIS-USD	+0.0248%	1h	233.48	−0.076%	$150K	$705K	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.04	+0.163%	$7K	$152K	10x	as long as short
Lighter NBIS	+0.0312%	1h	233.60	−0.026%	$903K	$4.4M	10x	as long as short
Entropy io:NBIS	+0.0370%	1h	233.76	+0.043%	$10.2M	$3.4M	10x	as long as short
edgeX NBISUSDC	+0.0990%	4h	233.83	+0.071%	$38K	$227K	10x	as long as short