NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0074%/8h= −8.1% APRnext payment −$0.09 per $10,000 · paid last 24h −0.024%

Price spread now: Coinbase International against Phoenix−0.446%72s7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$600.603% of the position

Long on Phoenix Short on Coinbase International

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)+0.528%+$53 · spread now −0.446%, 7d avg −0.002%

Together, before fees+0.442%+$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Coinbase International is 0.443% cheaper against Phoenix than usual: you would sell low and buy high (−$44 if the spread goes back to its 7-day average of −0.002%). Swap the legs. The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NBIS	231.19	0.0242	pay 0.0030% / 1h	34m 03s	$7K	$150K	10x
Short	Coinbase International NBIS-PERP-INTX	230.16	0.0168	get 0.0021% / 1h	34m 03s	$352K	$791K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phoenix. 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 PhoenixbpFee Coinbase InternationalbpOrdersPrice spread, now −0.446%Rate

Funding earned: −$15.44
Price spread: −0.446% → −0.002%: −$44.31
Slippage, 4 orders: −$43.31
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$120.06
Costs to cover: 0.603%
Break-even: never at this rate

Slippage from Phoenix: live order book, 7 min ago; Coinbase International: live order book, 14 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 Phoenix live order book, 7 min ago	6.07 bp	17.2 bp −$17	37.7 bp −$377	doesn't fit	doesn't fit
Sell Coinbase International live order book, 14 min ago	7.11 bp	12.2 bp −$12	17.9 bp −$179	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	−0.0311%	8h	230.72	−0.203%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0003%	8h	231.11	−0.035%	$207K	$204K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.82	−0.162%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.58	−0.263%	$144K	$753K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.72	−0.205%	$18.4M	$86.4M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.74	−0.195%	$4.9M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.65	−0.234%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.74	−0.195%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.06	−0.054%	$2.9M	$555K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.34	+0.067%	$5K	$118K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	230.75	−0.190%	$711	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.50	−0.298%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.30	+0.048%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.75	−0.190%	$1.6M	$956K	10x	as long as short
Nado NBIS-PERP	+0.0021%	1h	230.81	−0.164%	$38K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0029%	1h	230.74	−0.195%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.89	−0.130%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.77	−0.182%	—	$219K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.73	−0.199%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.74	−0.195%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.60	−0.255%	$160K	$521K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0054%	1h	230.57	−0.268%	$53.6M	$20.4M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.57	−0.268%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.58	−0.264%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.61	−0.250%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0168%	1h	230.16	−0.446%	$352K	$791K	10x
Lighter NBIS	+0.0208%	1h	230.69	−0.216%	$920K	$3.9M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0223%	1h	230.62	−0.246%	$23K	$15K	20x	as long as short
Phoenix NBISlong	+0.0242%	1h	231.19	long leg	$7K	$150K	10x
Entropy io:NBIS	+0.0327%	1h	230.97	−0.095%	$10.0M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0937%	4h	231.26	+0.029%	$37K	$226K	10x	as long as short