Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.058%

Price spread now: Gate against Phemex+0.017%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$125as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$1391.395% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.141%+$14 on $10k

Price spread, last 4 days (all we have)+0.026%+$3 · spread now +0.017%, 7d avg +0.011%

Together, before fees+0.167%+$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NBISUSDT	232.78	0	get 0.0000% / 8h	2h 50m	$1.6M	$956K	10x
Short	Gate NBIS_USDT	232.82	0	get 0.0000% / 8h	2h 50m	$2.7M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.017%Rate

Funding earned: $0
Price spread: +0.017% → +0.011%: $0.59
Slippage, 4 orders: −$112.5
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$138.9
Costs to cover: 1.395%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Gate: live order book, 3 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, 2 min ago	2.79 bp	47.7 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.15 bp	18.5 bp −$18	85.5 bp −$855	293.8 bp −$29.4K	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
Bitget NBISUSDT	−0.0068%	8h	232.75	−0.013%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	232.69	−0.037%	$83K	$309K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.68	−0.045%	$145K	$756K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.77	−0.004%	$18.9M	$85.6M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.82	+0.017%	$5.0M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	232.64	−0.060%	$3.4M	$16.1M	25x	as long as short
Gate NBIS_USDTshort	0.0000%	8h	232.82	+0.017%	$2.7M	$5.0M	50x
Variational Omni NBIS	0.0000%	8h	232.77	−0.002%	$2.9M	$555K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.72	−0.024%	$5K	$118K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.58	−0.086%	$1K	$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	232.96	+0.077%	$15K	$60K	20x	as long as short
Phemex NBISUSDTlong	0.0000%	8h	232.78	long leg	$1.6M	$956K	10x
BloFin NBIS-USDT	+0.0015%	8h	232.69	−0.039%	$205K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0029%	1h	232.66	−0.052%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.46	−0.137%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	232.68	−0.043%	—	$217K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	232.63	−0.064%	$143K	$459K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	232.76	−0.009%	$161K	$507K	10x	as long as short
Nado NBIS-PERP	+0.0084%	1h	232.72	−0.026%	$38K	$115K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0094%	1h	232.76	−0.009%	$35K	$49K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.66	−0.052%	$479K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.80	+0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.77	−0.003%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0126%	1h	232.61	−0.073%	$54.2M	$20.2M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	232.30	−0.206%	$361K	$771K	10x	as long as short
SoDEX NBIS-USD	+0.0192%	1h	232.76	−0.009%	$102	$20K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0221%	1h	232.73	−0.022%	$23K	$15K	20x	as long as short
Phoenix NBIS	+0.0242%	1h	232.60	−0.077%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0392%	1h	232.80	+0.009%	$932K	$3.9M	10x	as long as short
Entropy io:NBIS	+0.0560%	1h	232.62	−0.069%	$10.1M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0915%	4h	232.68	−0.041%	$37K	$226K	10x	as long as short