Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h +0.003%

Price spread now: Arcus against Orderly+0.069%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Arcus is 0.069% dearer against Orderly than usual: you sell high and buy low (spread +0.069% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NBIS_USDC_mythos	231.34	0.0100	pay 0.0100% / 8h	1h 55m	$2K	$3K	10x
Short	Arcus NBIS-USD	231.50	0.0040	get 0.0005% / 1h	55m 16s	$42K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Orderly. 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 OrderlybpFee ArcusbpOrdersPrice spread, now +0.069%Rate

Funding earned: −$12.54
Price spread: +0.069% → 0.000%: $6.92
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$16.13
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Arcus: live order book, 53 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 Orderly no order-book sample	—	—	—	—	—
Sell Arcus live order book, 53 min ago	2.59 bp	12.6 bp −$13	18.0 bp −$180	doesn't fit	doesn't fit

Orderly: 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	−0.0383%	8h	231.42	+0.035%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.25	−0.041%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.29	−0.023%	$146K	$753K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.38	+0.017%	$18.6M	$87.1M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.40	+0.026%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.32	−0.009%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.37	+0.013%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.22	−0.050%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.54	+0.085%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.02	+0.294%	$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	231.79	+0.195%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.40	+0.026%	$1.6M	$959K	10x	as long as short
BloFin NBIS-USDT	0.0000%	8h	231.38	+0.017%	$203K	$206K	20x	as long as short
Arcus NBIS-USDshort	+0.0040%	1h	231.50	+0.069%	$42K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	231.30	−0.017%	—	$220K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.31	−0.013%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.34	0.000%	$79	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.66	+0.138%	$151K	$548K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	231.38	+0.017%	$1.5M	$3.9M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.19	−0.065%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythoslong	+0.0100%	8h	231.34	long leg	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	231.31	−0.011%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	232.18	+0.363%	$352K	$816K	10x	as long as short
Nado NBIS-PERP	+0.0143%	1h	231.19	−0.063%	$38K	$115K	3x	as long as short
edgeX NBISUSDC	+0.0170%	4h	231.80	+0.201%	$37K	$225K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0232%	1h	231.35	+0.004%	$54.4M	$21.1M	10x	as long as short
Phoenix NBIS	+0.0242%	1h	231.70	+0.156%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0360%	1h	231.45	+0.048%	$940K	$3.9M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0399%	1h	231.30	−0.017%	$34K	$49K	10x	as long as short
Entropy io:NBIS	+0.0562%	1h	231.50	+0.069%	$10.1M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0683%	1h	231.23	−0.046%	$23K	$15K	20x	as long as short