Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Ondo Perps−0.026%7-day average +0.018% · you buy dearer than you sell

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

Long on Ondo Perps Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)+0.636%+$64 · spread now −0.026%, 7d avg +0.018%

Together, before fees+0.550%+ Points / potential airdropOndo Perps: Active · farm board+$55 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.044% cheaper against Ondo Perps than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NBIS-USD.P	230.97	0.0050	pay 0.0006% / 1h	8m 17s	$150K	$542K	10x
Short	Polymarket Perps NBIS-USD	230.91	0.0050	get 0.0006% / 1h	8m 17s	$137K	$473K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$0.08
Price spread: −0.026% → +0.018%: −$4.43
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$17.51
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Polymarket Perps: live order book, 29 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 Polymarket Perps live order book, 29 min ago	2.60 bp	7.4 bp −$7	7.7 bp −$77	38.9 bp −$3,889	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
Bitget NBISUSDT	−0.0369%	8h	231.05	+0.035%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.07	+0.041%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.01	+0.016%	$144K	$878K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.05	+0.036%	$18.8M	$87.9M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.09	+0.052%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.93	−0.017%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.05	+0.035%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.87	−0.043%	$2.8M	$589K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.93	−0.015%	$4K	$115K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.98	+0.004%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.01	+0.017%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.03	+0.026%	$1.6M	$970K	10x	as long as short
BloFin NBIS-USDT	+0.0006%	8h	231.06	+0.039%	$204K	$212K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.92	−0.022%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.11	+0.061%	$1.5M	$3.7M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.96	−0.004%	—	$223K	5x	as long as short
Polymarket Perps NBIS-USDshort	+0.0050%	1h	230.91	−0.026%	$137K	$473K	10x
SoDEX NBIS-USD	+0.0050%	1h	230.94	−0.013%	$79	$20K	10x	as long as short
Ondo Perps NBIS-USD.Plong	+0.0050%	1h	230.97	long leg	$150K	$542K	10x
Deribit NBIS_USDC-PERPETUAL	+0.0053%	1h	230.95	−0.009%	$34K	$49K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.90	−0.030%	$355K	$807K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.86	−0.048%	$476K	$26K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.00	+0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.97	+0.001%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0119%	1h	230.97	0.000%	$54.1M	$21.2M	10x	as long as short
Nado NBIS-PERP	+0.0186%	1h	230.85	−0.051%	$38K	$116K	3x	as long as short
Lighter NBIS	+0.0272%	1h	230.94	−0.013%	$938K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0312%	1h	231.04	+0.030%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0347%	4h	230.92	−0.023%	$37K	$226K	10x	as long as short
Entropy io:NBIS	+0.0414%	1h	230.96	−0.004%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0541%	1h	230.91	−0.027%	$23K	$15K	20x	as long as short