Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.070%

Price spread now: Coinbase International against Orderly−0.422%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Coinbase International is 0.422% cheaper against Orderly than usual: you would sell low and buy high (−$42 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NBIS_USDC_mythos	234.75	0.0100	pay 0.0100% / 8h	23m 03s	$2K	$3K	10x
Short	Coinbase International NBIS-PERP-INTX	233.76	0	get 0.0000% / 1h	23m 03s	$358K	$676K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.422%Rate

Funding earned: −$21
Price spread: −0.422% → 0.000%: −$42.17
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$79.17
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 55 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 Coinbase International live order book, 55 min ago	4.06 bp	9.5 bp −$9	20.8 bp −$208	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
Bybit NBISUSDT	0.0000%	8h	234.75	0.000%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.79	+0.017%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.73	−0.009%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.72	−0.013%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.78	+0.013%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.66	−0.038%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	0.0000%	1h	233.76	−0.422%	$358K	$676K	10x
HTX NBIS-USDT	0.0000%	8h	234.82	+0.030%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.76	+0.004%	$1.6M	$973K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.00	+0.106%	—	$234K	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	234.76	+0.004%	$149K	$723K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.75	0.000%	$28	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.73	−0.009%	$1.5M	$5.2M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.62	−0.055%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythoslong	+0.0100%	8h	234.75	long leg	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	234.79	+0.015%	—	—	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0110%	1h	234.65	−0.043%	$174K	$499K	10x	as long as short
Nado NBIS-PERP	+0.0198%	1h	234.70	−0.023%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0218%	8h	234.82	+0.029%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0235%	8h	234.58	−0.073%	$79K	$306K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.42	−0.141%	$24K	$14K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0252%	8h	234.83	+0.034%	$5K	$139K	10x	as long as short
Binance NBISUSDT	+0.0252%	8h	234.78	+0.013%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USD	+0.0256%	1h	234.74	−0.005%	$144K	$699K	10x	as long as short
BloFin NBIS-USDT	+0.0267%	8h	234.83	+0.034%	$207K	$214K	20x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.75	0.000%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0305%	1h	234.77	+0.009%	$54.7M	$23.4M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.05	+0.128%	$7K	$163K	10x	as long as short
Lighter NBIS	+0.0384%	1h	234.91	+0.068%	$933K	$4.6M	10x	as long as short
edgeX NBISUSDC	+0.0431%	4h	234.77	+0.007%	$38K	$234K	10x	as long as short
Entropy io:NBIS	+0.0489%	1h	234.80	+0.021%	$10.3M	$3.4M	10x	as long as short