Funding you earn now, next payment 21:00 UTC−0.0010%/8h= −1.1% APRnext payment −$0.01 per $10,000 · paid last 24h −0.069%
Price spread now: Deribit against Phoenix−0.278%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Deribit is 0.278% cheaper against Phoenix than usual: you would sell low and buy high (−$28 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NBIS | 233.43 | 0.0276 | pay 0.0034% / 1h | 7m 05s | $7K | $185K | 10x |
| Short | Deribit NBIS_USDC-PERPETUAL | 232.78 | 0.0266 | get 0.0033% / 1h | 7m 05s | $35K | $67K | 10x |
Phoenix NBIS
Deribit NBIS_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$2.06
- Price spread: −0.278% → 0.000%
- −$27.85
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$43.91
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 9 min ago; Deribit: 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 Phoenix live order book, 9 min ago | 3.85 bp | 12.7 bp −$13 | 26.9 bp −$269 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster NBISUSDT | 0.0000% | 8h | 232.94 | −0.211% | $79K | $304K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 232.88 | −0.235% | $141K | $697K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 232.94 | −0.212% | $19.3M | $87.1M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 232.88 | −0.236% | $5.1M | $6.7M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 233.00 | −0.184% | $3.4M | $17.0M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 232.88 | −0.236% | $2.8M | $5.3M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 232.97 | −0.197% | $2.5M | $4.8M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 233.30 | −0.056% | $2.8M | $945K | — | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 232.97 | −0.197% | $431 | $1.8M | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 233.40 | −0.013% | $15K | $115K | 20x | as long as short |
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
Variational Omni NBIS
SunX NBIS-USDT
HTX NBIS-USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phemex NBISUSDT | 0.0000% | 8h | 233.02 | −0.176% | $1.6M | $965K | 10x | as long as short |
| GRVT NBIS_USDT_Perp | +0.0002% | 8h | 233.27 | −0.069% | $5K | $147K | 10x | as long as short |
| BloFin NBIS-USDT | +0.0008% | 8h | 233.07 | −0.154% | $205K | $216K | 20x | as long as short |
| QFEX NBIS-USD | +0.0033% | 1h | 232.89 | −0.231% | $1.5M | $5.1M | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 232.79 | −0.274% | $43K | $134K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 233.08 | −0.150% | — | $234K | 5x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 232.68 | −0.321% | $137K | $635K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 232.95 | −0.206% | $56 | $20K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 233.21 | −0.094% | $180K | $514K | 10x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0057% | 1h | 232.75 | −0.291% | $24K | $13K | 20x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 232.76 | −0.287% | $480K | $25K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 232.96 | −0.201% | $2K | $4K | 10x | as long as short |
| Lighter NBIS | +0.0104% | 1h | 232.72 | −0.304% | $932K | $4.6M | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 232.94 | −0.212% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0136% | 1h | 232.99 | −0.188% | $355K | $704K | 10x | as long as short |
| Entropy io:NBIS | +0.0170% | 1h | 232.99 | −0.188% | $10.2M | $3.3M | 10x | as long as short |
| tradeXYZ xyz:NBIS | +0.0172% | 1h | 232.80 | −0.270% | $54.3M | $23.5M | 10x | as long as short |
| Nado NBIS-PERP | +0.0178% | 1h | 232.55 | −0.375% | $28K | $65K | 3x | as long as short |
| Deribit NBIS_USDC-PERPETUALshort | +0.0266% | 1h | 232.78 | −0.278% | $35K | $67K | 10x | |
| Phoenix NBISlong | +0.0276% | 1h | 233.43 | long leg | $7K | $185K | 10x | |
| edgeX NBISUSDC | +0.0596% | 4h | 233.24 | −0.083% | $37K | $234K | 10x | as long as short |
Phemex NBISUSDT
GRVT NBIS_USDT_Perp
BloFin NBIS-USDT
QFEX NBIS-USD
Arcus NBIS-USD
Vest NBIS-USD-PERP
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
Kraken Futures PF_NBISUSD
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Lighter NBIS
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
Entropy io:NBIS
tradeXYZ xyz:NBIS
Nado NBIS-PERP
edgeX NBISUSDC