NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0325%/8h= −35.6% APRnext payment −$0.41 per $10,000 · paid last 24h −0.088%

Price spread now: QFEX against Phoenix−0.026%52s7-day average −0.116% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$420.416% of the position

Long on Phoenix Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.131%−$13 on $10k

Price spread, last 3 days (all we have)−0.129%−$13 · spread now −0.026%, 7d avg −0.116%

Together, before fees−0.260%−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.090% dearer against Phoenix than usual: you sell high and buy low (spread −0.026% now, against its 7-day average of −0.116%): +$9 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 22 hours. At the pace of the last 3 days (−0.131% in total) that is about 2.4 days. The two prices were read 52 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	235.01	0.0376	pay 0.0047% / 1h	20m 35s	$7K	$163K	10x
Short	QFEX NBIS-USD	234.95	0.0051	get 0.0006% / 1h	20m 35s	$1.5M	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$68.22
Price spread: −0.026% → −0.116%: $9.03
Slippage, 4 orders: −$24.61
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$100.8
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Phoenix: live order book, 51 min ago; QFEX: live order book, 3 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, 51 min ago	4.27 bp	13.5 bp −$13	28.5 bp −$285	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	1.92 bp	6.9 bp −$7	9.0 bp −$90	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
Deribit NBIS_USDC-PERPETUAL	−0.0005%	1h	234.80	−0.089%	$35K	$48K	10x	as long as short
Bybit NBISUSDT	0.0000%	8h	234.96	−0.021%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.04	+0.013%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.95	−0.026%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.92	−0.038%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.78	−0.098%	$1K	$1.8M	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	233.76	−0.532%	$358K	$676K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	236.05	+0.443%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.91	−0.043%	$1.6M	$974K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.04	+0.013%	—	$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	234.88	−0.055%	$150K	$723K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.85	−0.068%	$38	$20K	10x	as long as short
QFEX NBIS-USDshort	+0.0051%	1h	234.95	−0.026%	$1.5M	$5.2M	10x
Ondo Perps NBIS-USD.P	+0.0088%	1h	234.89	−0.051%	$174K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.71	−0.128%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.88	−0.055%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.93	−0.032%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0192%	1h	234.79	−0.094%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	234.86	−0.062%	$2.9M	$822K	—	as long as short
BloFin NBIS-USDT	+0.0236%	8h	234.87	−0.060%	$206K	$214K	20x	as long as short
Aster NBISUSDT	+0.0237%	8h	234.82	−0.083%	$79K	$306K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.65	−0.155%	$24K	$14K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0252%	8h	234.83	−0.077%	$5K	$139K	10x	as long as short
Binance NBISUSDT	+0.0254%	8h	234.88	−0.053%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USD	+0.0256%	1h	234.83	−0.078%	$144K	$699K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.91	−0.043%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0302%	1h	234.93	−0.034%	$54.8M	$23.4M	10x	as long as short
edgeX NBISUSDC	+0.0366%	4h	234.75	−0.112%	$38K	$235K	10x	as long as short
Phoenix NBISlong	+0.0376%	1h	235.01	long leg	$7K	$163K	10x
Lighter NBIS	+0.0376%	1h	235.04	+0.013%	$934K	$4.6M	10x	as long as short
Entropy io:NBIS	+0.0483%	1h	234.83	−0.077%	$10.3M	$3.4M	10x	as long as short