Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0181%/8h= −19.8% APRpaid last 24h +0.043%

Price spread now: Gate against Polymarket Perps0.000%48s7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as 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−$560.558% of the position

Long on Polymarket Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now 0.000%, 7d avg +0.030%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Gate is 0.030% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.030%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.063%, so the current rate has only just turned against you. The two prices were read 48 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	Polymarket Perps NBIS-USD	235.62	0.0181	pay 0.0023% / 1h	7m 41s	$142K	$462K	10x
Short	Gate NBIS_USDT	235.62	0	get 0.0000% / 8h	7h 07m	$2.8M	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$37.97
Price spread: 0.000% → +0.030%: −$3.03
Slippage, 4 orders: −$32.78
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$96.78
Costs to cover: 0.558%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 65 min ago; Gate: live order book, 1 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, 65 min ago	2.77 bp	8.9 bp −$9	9.3 bp −$93	60.1 bp −$6,010	doesn't fit
Sell Gate live order book, 1 min ago	3.39 bp	26.7 bp −$27	115.7 bp −$1,157	303.5 bp −$30.4K	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.55	−0.031%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.76	+0.059%	$3.4M	$16.8M	25x	as long as short
Gate NBIS_USDTshort	0.0000%	8h	235.62	0.000%	$2.8M	$5.1M	50x
SunX NBIS-USDT	0.0000%	8h	235.71	+0.038%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.54	−0.034%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	236.48	+0.365%	$15K	$106K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.69	+0.030%	$1.6M	$972K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.182%	$386K	$737K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.66	+0.017%	$1.5M	$4.9M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.91	+0.123%	—	$224K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NBISUSDT	+0.0050%	8h	235.76	+0.059%	$5.1M	$6.4M	50x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.52	−0.042%	$175K	$503K	10x	as long as short
SoDEX NBIS-USD	+0.0084%	1h	235.59	−0.013%	$80	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.48	−0.059%	$486K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.64	+0.008%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.60	−0.007%	—	—	10x	as long as short
Bitget NBISUSDT	+0.0119%	8h	235.65	+0.013%	$2.5M	$4.6M	20x	as long as short
Nado NBIS-PERP	+0.0148%	1h	235.50	−0.052%	$31K	$66K	3x	as long as short
Polymarket Perps NBIS-USDlong	+0.0181%	1h	235.62	long leg	$142K	$462K	10x
Variational Omni NBIS	+0.0252%	8h	235.56	−0.025%	$2.9M	$591K	—	as long as short
Aster NBISUSDT	+0.0260%	8h	235.81	+0.081%	$82K	$308K	50x	as long as short
Extended NBIS-USD	+0.0280%	1h	235.65	+0.011%	$151K	$705K	10x	as long as short
Binance NBISUSDT	+0.0284%	8h	235.70	+0.034%	$19.6M	$85.4M	25x	as long as short
BloFin NBIS-USDT	+0.0284%	8h	235.45	−0.072%	$207K	$210K	20x	as long as short
Lighter NBIS	+0.0296%	1h	235.75	+0.055%	$920K	$4.5M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0303%	1h	235.72	+0.042%	$55.2M	$23.6M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.60	−0.008%	$44K	$132K	5x	as long as short
Phoenix NBIS	+0.0409%	1h	235.90	+0.119%	$7K	$163K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0440%	8h	235.92	+0.126%	$5K	$131K	10x	as long as short
edgeX NBISUSDC	+0.0735%	4h	235.65	+0.011%	$38K	$225K	10x	as long as short
Entropy io:NBIS	+0.0863%	1h	235.62	0.000%	$10.3M	$3.4M	10x	as long as short