Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.006%

Price spread now: Polymarket Perps against Orderly−0.034%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 Polymarket Perps

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 −$2 a day on $10k at the current rate, and Polymarket Perps is 0.034% cheaper against Orderly than usual: you would sell low and buy high (−$3 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	233.77	0.0100	pay 0.0100% / 8h	1h 15m	$2K	$3K	10x
Short	Polymarket Perps NBIS-USD	233.69	0.0050	get 0.0006% / 1h	15m 01s	$132K	$683K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.034%Rate

Funding earned: −$10.5
Price spread: −0.034% → 0.000%: −$3.42
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$27.92
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Polymarket Perps: live order book, 3 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 Polymarket Perps live order book, 3 min ago	1.71 bp	5.7 bp −$6	6.2 bp −$62	25.2 bp −$2,522	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	233.67	−0.043%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.67	−0.043%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.68	−0.038%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.71	−0.026%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.74	−0.013%	$1K	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.89	+0.051%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.77	0.000%	$1.6M	$970K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	233.67	−0.043%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.66	−0.047%	$44K	$133K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.77	0.000%	—	$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-USDshort	+0.0050%	1h	233.69	−0.034%	$132K	$683K	10x
SoDEX NBIS-USD	+0.0050%	1h	233.71	−0.026%	$14	$20K	10x	as long as short
Variational Omni NBIS	+0.0057%	8h	233.76	−0.004%	$2.8M	$825K	—	as long as short
Coinbase International NBIS-PERP-INTX	+0.0072%	1h	232.99	−0.334%	$356K	$697K	10x	as long as short
BloFin NBIS-USDT	+0.0093%	8h	233.74	−0.013%	$205K	$214K	20x	as long as short
Aster NBISUSDT	+0.0095%	8h	233.69	−0.032%	$79K	$304K	50x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.50	−0.115%	$481K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythoslong	+0.0100%	8h	233.77	long leg	$2K	$3K	10x
Ondo Perps NBIS-USD.P	+0.0102%	1h	233.84	+0.030%	$173K	$499K	10x	as long as short
Extended NBIS-USD	+0.0104%	1h	233.70	−0.031%	$142K	$697K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.74	−0.012%	—	—	10x	as long as short
Binance NBISUSDT	+0.0104%	8h	233.74	−0.013%	$19.4M	$86.9M	25x	as long as short
GRVT NBIS_USDT_Perp	+0.0125%	8h	233.83	+0.026%	$5K	$142K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0204%	1h	233.74	−0.013%	$54.5M	$23.5M	10x	as long as short
edgeX NBISUSDC	+0.0223%	4h	233.77	−0.001%	$37K	$235K	10x	as long as short
Lighter NBIS	+0.0232%	1h	233.79	+0.009%	$930K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0260%	1h	233.52	−0.106%	$28K	$63K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0307%	1h	233.71	−0.026%	$35K	$47K	10x	as long as short
Entropy io:NBIS	+0.0310%	1h	233.76	−0.004%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0343%	1h	233.99	+0.094%	$7K	$185K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0346%	1h	233.54	−0.098%	$24K	$13K	20x	as long as short