Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.014%

Price spread now: KuCoin against Ondo Perps−0.068%7-day average −0.040% · you buy dearer than you sell

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

Long on Ondo Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$3 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now −0.068%, 7d avg −0.040%

Together, before fees−0.191%+ Points / potential airdropOndo Perps: Active · farm board−$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.028% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.068% now, against its 7-day average of −0.040%). If the spread goes back, that is −$3 on $10k: about 46 hours of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.025% in total) that is about 7.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NBIS-USD.P	235.37	0.0050	pay 0.0006% / 1h	2m 26s	$165K	$500K	10x
Short	KuCoin NBISUSDTM	235.21	0.0100	get 0.0100% / 8h	5h 02m	$484K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.068%Rate

Funding earned: $10.42
Price spread: −0.068% → −0.040%: −$2.84
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$9.43
Costs to cover: 0.170%
Break-even: 13.3 days

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: 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 KuCoin live order book, 20 min ago	21.76 bp	68.5 bp −$68	doesn't fit	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
Nado NBIS-PERP	−0.0017%	1h	235.24	−0.054%	$64K	$100K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.36	−0.004%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.43	+0.025%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.39	+0.008%	$2.8M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.28	−0.038%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.56	+0.082%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.27	−0.042%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.35	−0.008%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.57	+0.085%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.38	+0.004%	$1.6M	$960K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0023%	1h	235.39	+0.008%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.26	−0.047%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.62	+0.106%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.34	−0.013%	$150K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.39	+0.008%	$56	$20K	10x	as long as short
Ondo Perps NBIS-USD.Plong	+0.0050%	1h	235.37	long leg	$165K	$500K	10x
tradeXYZ xyz:NBIS	+0.0064%	1h	235.34	−0.013%	$55.2M	$19.6M	10x	as long as short
Variational Omni NBIS	+0.0075%	8h	235.50	+0.055%	$2.9M	$565K	—	as long as short
KuCoin NBISUSDTMshort	+0.0100%	8h	235.21	−0.068%	$484K	$21K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.42	+0.021%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.41	+0.016%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	235.35	−0.008%	$389K	$725K	10x	as long as short
Aster NBISUSDT	+0.0112%	8h	235.36	−0.003%	$81K	$307K	50x	as long as short
Binance NBISUSDT	+0.0114%	8h	235.43	+0.025%	$19.2M	$84.4M	25x	as long as short
Extended NBIS-USD	+0.0120%	1h	235.36	−0.004%	$147K	$706K	10x	as long as short
BloFin NBIS-USDT	+0.0145%	8h	235.27	−0.042%	$207K	$204K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0151%	1h	235.19	−0.076%	$24K	$15K	20x	as long as short
Lighter NBIS	+0.0264%	1h	235.39	+0.008%	$901K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	235.50	+0.055%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0515%	1h	235.38	+0.004%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0535%	4h	235.54	+0.074%	$38K	$227K	10x	as long as short