Funding arb · Price arb /

NBIS

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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 +0.002%

Price spread now: OKX against Phemex−0.022%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$106as in the Price arb table

costs, in and out, $10k−$1061.058% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.022%, 7d avg −0.021%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NBISUSDT	230.51	0	get 0.0000% / 8h	1h 40m	$1.6M	$963K	10x
Short	OKX NBIS-USDT-SWAP	230.46	0	get 0.0000% / 8h	1h 40m	$3.3M	$16.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.022%Rate

Funding earned: $0
Price spread: −0.022% → −0.021%: −$0.04
Slippage, 4 orders: −$83.77
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$105.81
Costs to cover: 1.058%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; OKX: live order book, 2 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	3.04 bp	41.3 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.95 bp	11.8 bp −$12	30.0 bp −$300	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
Bitget NBISUSDT	−0.0481%	8h	230.53	+0.009%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.44	−0.030%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.49	−0.009%	$144K	$678K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.54	+0.013%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.48	−0.013%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	230.46	−0.022%	$3.3M	$16.2M	25x
Gate NBIS_USDT	0.0000%	8h	230.56	+0.022%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.48	−0.013%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.38	−0.058%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.52	+0.004%	$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	230.50	−0.004%	$15K	$57K	20x	as long as short
Phemex NBISUSDTlong	0.0000%	8h	230.51	long leg	$1.6M	$963K	10x
BloFin NBIS-USDT	+0.0014%	8h	230.45	−0.026%	$204K	$205K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.52	+0.004%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.44	−0.030%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.48	−0.013%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.33	−0.078%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.31	−0.087%	$152K	$547K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.56	+0.022%	$1.5M	$3.9M	10x	as long as short
Nado NBIS-PERP	+0.0064%	1h	230.41	−0.042%	$37K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.42	−0.039%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.44	−0.030%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.36	−0.065%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.47	−0.017%	$351K	$812K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0138%	1h	230.50	−0.004%	$54.2M	$21.0M	10x	as long as short
Lighter NBIS	+0.0192%	1h	230.51	0.000%	$946K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.47	−0.017%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0364%	1h	230.58	+0.030%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0470%	4h	230.86	+0.153%	$37K	$228K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0488%	1h	230.42	−0.039%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0686%	1h	230.48	−0.013%	$23K	$15K	20x	as long as short