Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0440%/8h= +48.2% APRpaid last 24h +0.037%

Price spread now: Kraken Futures against Orderly−0.061%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 Kraken Futures

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

Funding pays, the price is against you. Kraken Futures is 0.061% cheaper against Orderly than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 11 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NBIS_USDC_mythos	231.33	0.0100	pay 0.0100% / 8h	35m 30s	$2K	$3K	10x
Short	Kraken Futures PF_NBISUSD	231.19	0.0540	get 0.0068% / 1h	35m 30s	$23K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.061%Rate

Funding earned: $92.42
Price spread: −0.061% → 0.000%: −$6.06
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $70.37
Costs to cover: 0.160%
Break-even: 1.7 days

Slippage unknown: Orderly: no order-book sample; Kraken Futures: no order-book sample. 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 Kraken Futures no order-book sample	—	—	—	—	—

Orderly and Kraken Futures: 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	−0.0444%	8h	231.21	−0.052%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.11	−0.095%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.19	−0.062%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.20	−0.056%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.28	−0.022%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.14	−0.082%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.29	−0.017%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.069%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	−0.017%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	+0.013%	$993	$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	231.29	−0.017%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.25	−0.035%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDT	+0.0008%	8h	231.36	+0.013%	$203K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.12	−0.091%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.19	−0.061%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.03	−0.130%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.09	−0.104%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.06	−0.117%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.406%	$353K	$814K	10x	as long as short
SoDEX NBIS-USD	+0.0097%	1h	231.27	−0.026%	$97	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.01	−0.138%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythoslong	+0.0100%	8h	231.33	long leg	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	231.30	−0.011%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0143%	1h	231.04	−0.125%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0171%	1h	231.06	−0.115%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.086%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	−0.015%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0368%	1h	231.17	−0.069%	$931K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0429%	1h	231.15	−0.078%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSDshort	+0.0540%	1h	231.19	−0.061%	$23K	$15K	20x
Deribit NBIS_USDC-PERPETUAL	+0.0789%	1h	231.26	−0.030%	$34K	$49K	10x	as long as short