Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0186%/8h= +20.3% APRpaid last 24h +0.052%

Price spread now: BloFin against Polymarket Perps−0.030%45s7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as 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−$280.284% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 3 days (all we have)+0.006%+$1 · spread now −0.030%, 7d avg +0.024%

Together, before fees+0.060%+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.054% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of +0.024%). If the spread goes back, that is −$5 on $10k: about 23 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.054% in total) that is about 7.0 days. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.054% in total (about 2.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps NBIS-USD	234.94	0.0050	pay 0.0006% / 1h	20m 06s	$150K	$723K	10x
Short	BloFin NBIS-USDT	234.87	0.0236	get 0.0236% / 8h	20m 06s	$206K	$214K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. 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 Polymarket PerpsbpFee BloFinbpOrdersPrice spread, now −0.030%Rate

Funding earned: $39.02
Price spread: −0.030% → +0.024%: −$5.37
Slippage, 4 orders: −$8.44
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $5.21
Costs to cover: 0.284%
Break-even: 6.1 days

Slippage from Polymarket Perps: live order book, 58 min ago; BloFin: live order book, 50 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 Polymarket Perps live order book, 58 min ago	1.71 bp	5.7 bp −$6	6.3 bp −$63	27.6 bp −$2,759	doesn't fit
Sell BloFin live order book, 50 min ago	0.86 bp	7.9 bp −$8	15.8 bp −$158	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	234.99	+0.021%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.96	+0.009%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.95	+0.004%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.94	0.000%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.00	+0.026%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.81	−0.055%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	233.76	−0.502%	$358K	$676K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	236.05	+0.472%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.01	+0.030%	$1.6M	$974K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.10	+0.068%	—	$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-USDlong	+0.0050%	1h	234.94	long leg	$150K	$723K	10x
SoDEX NBIS-USD	+0.0050%	1h	234.96	+0.009%	$33	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.95	+0.004%	$1.5M	$5.2M	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0088%	1h	234.89	−0.021%	$174K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.69	−0.106%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.97	+0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.01	+0.028%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0192%	1h	234.79	−0.064%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	234.86	−0.033%	$2.9M	$822K	—	as long as short
BloFin NBIS-USDTshort	+0.0236%	8h	234.87	−0.030%	$206K	$214K	20x
Aster NBISUSDT	+0.0237%	8h	234.78	−0.068%	$79K	$306K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.67	−0.114%	$24K	$14K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0252%	8h	234.83	−0.047%	$5K	$139K	10x	as long as short
Binance NBISUSDT	+0.0254%	8h	234.98	+0.017%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USD	+0.0256%	1h	234.88	−0.025%	$144K	$699K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.91	−0.013%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0303%	1h	234.95	+0.004%	$54.8M	$23.4M	10x	as long as short
edgeX NBISUSDC	+0.0366%	4h	234.75	−0.082%	$38K	$235K	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.01	+0.030%	$7K	$163K	10x	as long as short
Lighter NBIS	+0.0376%	1h	235.04	+0.043%	$933K	$4.6M	10x	as long as short
Entropy io:NBIS	+0.0483%	1h	234.83	−0.047%	$10.3M	$3.4M	10x	as long as short