Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0248%/8h= +27.2% APRpaid last 24h +0.124%

Price spread now: Kraken Futures against Phemex−0.085%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Kraken Futures is 0.085% cheaper against Phemex than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 27 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NBISUSDT	234.48	0	get 0.0000% / 8h	40m 16s	$1.6M	$968K	10x
Short	Kraken Futures PF_NBISUSD	234.28	0.0248	get 0.0031% / 1h	40m 16s	$24K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.085%Rate

Funding earned: $52.17
Price spread: −0.085% → 0.000%: −$8.53
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $21.64
Costs to cover: 0.220%
Break-even: 4.1 days

Slippage unknown: Phemex: live order book, 3 min ago; Kraken Futures: 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	46.4 bp −$46	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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	234.39	−0.038%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.49	+0.004%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.41	−0.030%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.41	−0.030%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.44	−0.017%	$910	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.38	−0.043%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	233.76	−0.307%	$358K	$676K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.46	−0.009%	$15K	$115K	20x	as long as short
Phemex NBISUSDTlong	0.0000%	8h	234.48	long leg	$1.6M	$968K	10x
Vest NBIS-USD-PERP	+0.0046%	1h	234.50	+0.009%	—	$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-USD	+0.0050%	1h	234.40	−0.034%	$147K	$706K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.43	−0.021%	$28	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.40	−0.034%	$1.5M	$5.1M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.26	−0.094%	$483K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.44	−0.017%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.46	−0.007%	—	—	10x	as long as short
Variational Omni NBIS	+0.0199%	8h	234.38	−0.044%	$2.9M	$821K	—	as long as short
Nado NBIS-PERP	+0.0202%	1h	234.34	−0.061%	$28K	$63K	3x	as long as short
Aster NBISUSDT	+0.0223%	8h	234.33	−0.064%	$79K	$306K	50x	as long as short
Extended NBIS-USD	+0.0232%	1h	234.38	−0.043%	$142K	$697K	10x	as long as short
BloFin NBIS-USDT	+0.0232%	8h	234.47	−0.004%	$205K	$214K	20x	as long as short
Binance NBISUSDT	+0.0236%	8h	234.42	−0.026%	$19.4M	$86.4M	25x	as long as short
Ondo Perps NBIS-USD.P	+0.0236%	1h	234.33	−0.064%	$174K	$498K	10x	as long as short
Kraken Futures PF_NBISUSDshort	+0.0248%	1h	234.28	−0.085%	$24K	$13K	20x
GRVT NBIS_USDT_Perp	+0.0252%	8h	234.45	−0.011%	$5K	$140K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.41	−0.030%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0271%	1h	234.45	−0.013%	$54.7M	$23.3M	10x	as long as short
Lighter NBIS	+0.0368%	1h	234.59	+0.047%	$934K	$4.6M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	234.52	+0.017%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0502%	4h	234.37	−0.046%	$38K	$236K	10x	as long as short
Entropy io:NBIS	+0.0503%	1h	234.43	−0.021%	$10.2M	$3.4M	10x	as long as short