Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.002%

Price spread now: Bybit against Polymarket Perps0.000%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

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

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now 0.000%, 7d avg +0.006%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.092%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps NBIS-USD	230.48	0.0050	pay 0.0006% / 1h	31m 27s	$137K	$473K	10x
Short	Bybit NBISUSDT	230.48	0	get 0.0000% / 8h	1h 31m	$4.9M	$6.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$10.5
Price spread: 0.000% → +0.006%: −$0.6
Slippage, 4 orders: −$22.59
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$52.7
Costs to cover: 0.416%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 11 min ago; Bybit: live order book, 7 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, 11 min ago	2.82 bp	8.9 bp −$9	9.5 bp −$95	30.2 bp −$3,020	doesn't fit
Sell Bybit live order book, 7 min ago	2.17 bp	12.9 bp −$13	68.0 bp −$680	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
Bitget NBISUSDT	−0.0588%	8h	230.56	+0.035%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0019%	8h	230.72	+0.104%	$204K	$204K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.47	−0.006%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.37	−0.049%	$149K	$635K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.47	−0.003%	$18.5M	$87.4M	25x	as long as short
Bybit NBISUSDTshort	0.0000%	8h	230.48	0.000%	$4.9M	$6.6M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	230.42	−0.026%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.49	+0.004%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.25	−0.100%	$2.8M	$601K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.73	+0.110%	$5K	$116K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	230.41	−0.030%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.35	−0.056%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.73	+0.108%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.43	−0.022%	$1.6M	$962K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.29	−0.082%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.43	−0.022%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USDlong	+0.0050%	1h	230.48	long leg	$137K	$473K	10x
SoDEX NBIS-USD	+0.0050%	1h	230.38	−0.043%	$106	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.16	−0.139%	$152K	$546K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.52	+0.017%	$1.5M	$3.8M	10x	as long as short
Nado NBIS-PERP	+0.0061%	1h	230.26	−0.095%	$37K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.35	−0.056%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.40	−0.035%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.37	−0.048%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0107%	1h	230.51	+0.013%	$54.2M	$21.0M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.39	−0.039%	$351K	$812K	10x	as long as short
Lighter NBIS	+0.0208%	1h	230.43	−0.022%	$951K	$4.0M	10x	as long as short
edgeX NBISUSDC	+0.0309%	4h	230.61	+0.057%	$37K	$227K	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.30	−0.078%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0331%	1h	230.38	−0.043%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0686%	1h	230.34	−0.059%	$23K	$15K	20x	as long as short