Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h +0.030%

Price spread now: Nado against Orderly−0.103%129s7-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 Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropNado: Active · farm boardneeds both histories

Funding pays, the price is against you. Nado is 0.103% cheaper against Orderly than usual: you would sell low and buy high (spread −0.103% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 19 days of funding at the current rate (+$1 a day). The two prices were read 129 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NBIS_USDC_mythos	231.28	0.0100	pay 0.0100% / 8h	1h 49m	$2K	$3K	10x
Short	Nado NBIS-PERP	231.04	0.0118	get 0.0015% / 1h	49m 19s	$38K	$115K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.103%Rate

Funding earned: $3.85
Price spread: −0.103% → 0.000%: −$10.27
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$19.42
Costs to cover: 0.130%
Break-even: 42.3 days

Slippage unknown: Orderly: no order-book sample; Nado: live order book, 54 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 Nado live order book, 54 min ago	11.23 bp	30.5 bp −$31	doesn't fit	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	−0.0406%	8h	231.44	+0.069%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0001%	8h	231.20	−0.035%	$204K	$206K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.27	−0.005%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.42	+0.060%	$145K	$724K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.33	+0.022%	$18.6M	$87.2M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.31	+0.013%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.23	−0.022%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.34	+0.026%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.31	+0.014%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.41	+0.056%	$5K	$116K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	231.44	+0.069%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.31	+0.013%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.45	+0.074%	$1.6M	$961K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.23	−0.022%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.33	+0.022%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.34	+0.026%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.33	+0.022%	$93	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.24	−0.017%	$151K	$547K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	231.49	+0.091%	$1.5M	$3.9M	10x	as long as short
edgeX NBISUSDC	+0.0098%	4h	231.34	+0.025%	$37K	$226K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.24	−0.017%	$477K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythoslong	+0.0100%	8h	231.28	long leg	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	231.26	−0.010%	—	—	10x	as long as short
Nado NBIS-PERPshort	+0.0118%	1h	231.04	−0.103%	$38K	$115K	3x
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	231.07	−0.091%	$351K	$813K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0197%	1h	231.28	0.000%	$54.4M	$21.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.41	+0.056%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0328%	1h	231.46	+0.078%	$947K	$4.0M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0485%	1h	231.36	+0.035%	$34K	$49K	10x	as long as short
Entropy io:NBIS	+0.0516%	1h	231.42	+0.061%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0683%	1h	231.40	+0.051%	$23K	$15K	20x	as long as short