Funding you earn now, next payment 21:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h −0.103%
Price spread now: SunX against Phoenix−0.146%7-day average −0.103% · you buy dearer than you sell
Net, funding: paid 7d − costs−$214as in the Funding arb table
Net, price: spread back to 7d avg − costs−$157as in the Price arb table
costs, in and out, $10k−$1531.532% of the position
Funding, last 7 days−0.604%−$60 on $10k
+Price spread, last 3 days (all we have)−0.024%−$2 · spread now −0.146%, 7d avg −0.103%
=Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and SunX is 0.043% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.103%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NBIS | 233.27 | 0.0276 | pay 0.0034% / 1h | 59m 08s | $7K | $185K | 10x |
| Short | SunX NBIS-USDT | 232.93 | 0 | get 0.0000% / 8h | 1h 59m | $519 | $1.8M | 10x |
Phoenix NBIS
SunX NBIS-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$57.88
- Price spread: −0.146% → −0.103%
- −$4.29
- Slippage, 4 orders
- −$138.15
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$215.33
- Costs to cover
- 1.532%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 17 min ago; SunX: live order book, 6 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, 17 min ago | 3.85 bp | 12.7 bp −$13 | 26.9 bp −$269 | doesn't fit | doesn't fit |
| Sell SunX live order book, 6 min ago | 45.06 bp | 64.2 bp −$64 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin NBIS-USDT | −0.0028% | 8h | 233.14 | −0.056% | $206K | $216K | 20x | as long as short |
| Aster NBISUSDT | 0.0000% | 8h | 233.09 | −0.079% | $79K | $304K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 233.09 | −0.078% | $141K | $697K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 233.11 | −0.069% | $19.3M | $87.2M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 233.04 | −0.099% | $5.1M | $6.6M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 233.04 | −0.099% | $3.4M | $17.0M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 233.01 | −0.111% | $2.8M | $5.3M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 233.07 | −0.086% | $2.5M | $4.8M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 233.01 | −0.110% | $2.8M | $945K | — | as long as short |
| SunX NBIS-USDTshort | 0.0000% | 8h | 232.93 | −0.146% | $519 | $1.8M | 10x |
BloFin NBIS-USDT
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
Variational Omni NBISShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit NBIS_USDC-PERPETUAL | 0.0000% | 1h | 232.96 | −0.133% | $35K | $48K | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 232.97 | −0.129% | $15K | $115K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 233.14 | −0.056% | $1.6M | $966K | 10x | as long as short |
| GRVT NBIS_USDT_Perp | +0.0005% | 8h | 232.99 | −0.119% | $5K | $147K | 10x | as long as short |
| QFEX NBIS-USD | +0.0033% | 1h | 233.06 | −0.090% | $1.5M | $5.1M | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 233.00 | −0.116% | $44K | $134K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 233.17 | −0.043% | — | $234K | 5x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 233.07 | −0.086% | $51 | $20K | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0072% | 1h | 233.02 | −0.107% | $356K | $702K | 10x | as long as short |
| Polymarket Perps NBIS-USD | +0.0086% | 1h | 233.00 | −0.116% | $139K | $637K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0090% | 1h | 233.05 | −0.094% | $180K | $521K | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 232.89 | −0.163% | $480K | $25K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 233.01 | −0.111% | $2K | $4K | 10x | as long as short |
| Lighter NBIS | +0.0104% | 1h | 233.11 | −0.069% | $934K | $4.6M | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 233.00 | −0.116% | — | — | 10x | as long as short |
| Nado NBIS-PERP | +0.0256% | 1h | 233.15 | −0.053% | $28K | $65K | 3x | as long as short |
| Phoenix NBISlong | +0.0276% | 1h | 233.27 | long leg | $7K | $185K | 10x | |
| tradeXYZ xyz:NBIS | +0.0290% | 1h | 233.09 | −0.077% | $54.4M | $23.5M | 10x | as long as short |
| edgeX NBISUSDC | +0.0308% | 4h | 233.01 | −0.112% | $37K | $235K | 10x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0347% | 1h | 233.05 | −0.095% | $24K | $13K | 20x | as long as short |
| Entropy io:NBIS | +0.0364% | 1h | 232.93 | −0.146% | $10.2M | $3.3M | 10x | as long as short |
Deribit NBIS_USDC-PERPETUAL
HTX NBIS-USDT
Phemex NBISUSDT
GRVT NBIS_USDT_Perp
QFEX NBIS-USD
Arcus NBIS-USD
Vest NBIS-USD-PERP
SoDEX NBIS-USD
Coinbase International NBIS-PERP-INTX
Polymarket Perps NBIS-USD
Ondo Perps NBIS-USD.P
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Lighter NBIS
Aevo NBIS-PERP
Nado NBIS-PERP
tradeXYZ xyz:NBIS
edgeX NBISUSDC
Kraken Futures PF_NBISUSD
Entropy io:NBIS