Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.025%

Price spread now: Extended against Phemex−0.056%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1081.082% of the position

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.095%+$10 on $10k

Price spread, last 3 days (all we have)+0.061%+$6 · spread now −0.056%, 7d avg −0.050%

Together, before fees+0.156%+ Points / potential airdropExtended: Active · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.050%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.095% in total (about 5.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NBISUSDT	233.59	0	get 0.0000% / 8h	6h 40m	$1.6M	$972K	10x
Short	Extended NBIS-USD	233.46	0.0240	get 0.0030% / 1h	40m 28s	$150K	$705K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.056%Rate

Funding earned: $50.4
Price spread: −0.056% → −0.050%: −$0.6
Slippage, 4 orders: −$91.21
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$58.4
Costs to cover: 1.082%
Break-even: 15.1 days

Slippage from Phemex: live order book, 3 min ago; Extended: live order book, 27 min ago.

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	0.86 bp	39.2 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 27 min ago	2.55 bp	12.2 bp −$12	170.5 bp −$1,705	doesn't fit	doesn't fit

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	233.48	−0.047%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.45	−0.060%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.49	−0.043%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.47	−0.051%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.48	−0.047%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.78	+0.081%	$15K	$60K	20x	as long as short
Phemex NBISUSDTlong	0.0000%	8h	233.59	long leg	$1.6M	$972K	10x
Deribit NBIS_USDC-PERPETUAL	+0.0007%	1h	233.40	−0.081%	$35K	$48K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.40	−0.081%	$1.5M	$4.7M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.50	−0.039%	$42K	$132K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	233.51	−0.034%	—	$226K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.38	−0.090%	$148K	$468K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.42	−0.073%	$98	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.39	−0.086%	$163K	$500K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0062%	8h	233.77	+0.075%	$5K	$130K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.41	−0.079%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.48	−0.047%	$481K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.47	−0.051%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.43	−0.070%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.053%	$386K	$721K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0126%	1h	233.38	−0.090%	$54.7M	$22.9M	10x	as long as short
Nado NBIS-PERP	+0.0166%	1h	233.46	−0.057%	$67K	$94K	3x	as long as short
Aster NBISUSDT	+0.0220%	8h	233.72	+0.057%	$81K	$314K	50x	as long as short
Variational Omni NBIS	+0.0223%	8h	233.46	−0.056%	$2.8M	$570K	—	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.193%	$207K	$209K	20x	as long as short
Extended NBIS-USDshort	+0.0240%	1h	233.46	−0.056%	$150K	$705K	10x
Binance NBISUSDT	+0.0242%	8h	233.50	−0.041%	$19.2M	$85.1M	25x	as long as short
Lighter NBIS	+0.0296%	1h	233.53	−0.026%	$902K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.04	+0.193%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0339%	4h	233.68	+0.039%	$38K	$225K	10x	as long as short
Entropy io:NBIS	+0.0364%	1h	233.67	+0.034%	$10.2M	$3.4M	10x	as long as short