NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0293%/8h= −32.1% APRnext payment −$0.37 per $10,000 · paid last 24h −0.068%

Price spread now: Polymarket Perps against Phoenix−0.115%59s7-day average −0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as 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−$410.410% of the position

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.524%−$52 on $10k

Price spread, last 3 days (all we have)+0.038%+$4 · spread now −0.115%, 7d avg −0.112%

Together, before fees−0.486%−$49 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.112%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. The two prices were read 59 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	234.19	0.0343	pay 0.0043% / 1h	17m 47s	$7K	$185K	10x
Short	Polymarket Perps NBIS-USD	233.92	0.0050	get 0.0006% / 1h	17m 47s	$132K	$683K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.115%Rate

Funding earned: −$61.59
Price spread: −0.115% → −0.112%: −$0.35
Slippage, 4 orders: −$26.01
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$102.95
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from Phoenix: live order book, 59 min ago; Polymarket Perps: live order book, 65 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, 59 min ago	3.85 bp	12.7 bp −$13	26.9 bp −$269	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 65 min ago	0.21 bp	5.9 bp −$6	6.3 bp −$63	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
Bybit NBISUSDT	0.0000%	8h	233.74	−0.192%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.68	−0.218%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.76	−0.184%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.79	−0.171%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.94	−0.107%	$1K	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.05	−0.060%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.91	−0.120%	$1.6M	$968K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	233.84	−0.149%	$1.5M	$5.1M	10x	as long as short
Variational Omni NBIS	+0.0039%	8h	234.04	−0.066%	$2.9M	$825K	—	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.88	−0.132%	$44K	$133K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	234.01	−0.077%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USDshort	+0.0050%	1h	233.92	−0.115%	$132K	$683K	10x
SoDEX NBIS-USD	+0.0050%	1h	233.86	−0.141%	$9	$20K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0072%	1h	232.99	−0.512%	$356K	$697K	10x	as long as short
Aster NBISUSDT	+0.0091%	8h	233.77	−0.181%	$79K	$304K	50x	as long as short
Extended NBIS-USD	+0.0096%	1h	233.82	−0.156%	$142K	$697K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0096%	1h	233.84	−0.149%	$174K	$499K	10x	as long as short
BloFin NBIS-USDT	+0.0099%	8h	234.01	−0.077%	$205K	$214K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.63	−0.239%	$481K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.90	−0.124%	$2K	$3K	10x	as long as short
Binance NBISUSDT	+0.0100%	8h	233.76	−0.184%	$19.4M	$86.9M	25x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.92	−0.116%	—	—	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0106%	8h	234.03	−0.069%	$5K	$144K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0135%	1h	233.80	−0.167%	$35K	$47K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0201%	1h	233.82	−0.158%	$54.5M	$23.5M	10x	as long as short
Lighter NBIS	+0.0224%	1h	233.89	−0.128%	$930K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0254%	1h	233.74	−0.194%	$28K	$63K	3x	as long as short
Entropy io:NBIS	+0.0311%	1h	233.89	−0.128%	$10.2M	$3.3M	10x	as long as short
Phoenix NBISlong	+0.0343%	1h	234.19	long leg	$7K	$185K	10x
Kraken Futures PF_NBISUSD	+0.0346%	1h	233.73	−0.197%	$24K	$13K	20x	as long as short
edgeX NBISUSDC	+0.0431%	4h	234.04	−0.063%	$37K	$234K	10x	as long as short