Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h —

Price spread now: Aevo against Phemex−0.073%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days—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. Aevo is 0.073% cheaper against Phemex than usual: you would sell low and buy high (spread −0.073% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NBISUSDT	234.22	0	get 0.0000% / 8h	5h 55m	$1.6M	$969K	10x
Short	Aevo NBIS-PERP	234.05	0.0104	get 0.0013% / 1h	55m 07s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phemex. 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 PhemexbpFee AevobpOrdersPrice spread, now −0.073%Rate

Funding earned: $21.84
Price spread: −0.073% → 0.000%: −$7.27
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$13.43
Costs to cover: 0.280%
Break-even: 11.3 days

Slippage unknown: Phemex: live order book, 3 min ago; Aevo: 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 Phemex live order book, 3 min ago	1.07 bp	45.3 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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 30 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	234.16	−0.026%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.09	−0.056%	$3.4M	$16.3M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.22	0.000%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.10	−0.051%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.04	−0.077%	$5K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.08	−0.060%	$904	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.07	−0.064%	$15K	$60K	20x	as long as short
Phemex NBISUSDTlong	0.0000%	8h	234.22	long leg	$1.6M	$969K	10x
QFEX NBIS-USD	+0.0023%	1h	234.08	−0.060%	$1.5M	$4.4M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.91	−0.132%	$42K	$132K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	234.20	−0.009%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.02	−0.085%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.05	−0.073%	$9	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.96	−0.111%	$163K	$496K	10x	as long as short
Nado NBIS-PERP	+0.0060%	1h	233.88	−0.147%	$67K	$95K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.03	−0.081%	$482K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.05	−0.073%	$2K	$3K	10x	as long as short
Aevo NBIS-PERPshort	+0.0104%	1h	234.05	−0.073%	—	—	10x
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.295%	$382K	$712K	10x	as long as short
Variational Omni NBIS	+0.0132%	8h	234.03	−0.083%	$2.8M	$570K	—	as long as short
Aster NBISUSDT	+0.0151%	8h	234.33	+0.049%	$81K	$307K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.11	−0.048%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0159%	1h	234.12	−0.043%	$54.6M	$19.9M	10x	as long as short
Extended NBIS-USD	+0.0160%	1h	234.03	−0.081%	$147K	$698K	10x	as long as short
Binance NBISUSDT	+0.0162%	8h	234.12	−0.043%	$19.1M	$84.7M	25x	as long as short
edgeX NBISUSDC	+0.0187%	4h	234.02	−0.087%	$38K	$226K	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.19	−0.013%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0352%	1h	234.23	+0.004%	$904K	$4.3M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0391%	1h	234.00	−0.094%	$35K	$48K	10x	as long as short
Entropy io:NBIS	+0.0475%	1h	234.00	−0.094%	$10.2M	$3.3M	10x	as long as short