Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0383%/8h= +41.9% APRpaid last 24h +0.005%

Price spread now: GRVT against Polymarket Perps−0.013%57s7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as 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−$340.343% of the position

Long on Polymarket Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.013%, 7d avg +0.011%

Together, before fees+0.120%+ Points / potential airdropGRVT: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. GRVT is 0.024% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.011%). If the spread goes back, that is −$2 on $10k: about 5 hours of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.049% in total) that is about 3.4 days. The two prices were read 57 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 0.049% in total (about 2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps NBIS-USD	232.82	0.0062	pay 0.0008% / 1h	47m 33s	$129K	$478K	10x
Short	GRVT NBIS_USDT_Perp	232.79	0.0445	get 0.0445% / 8h	4h 47m	$4K	$101K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.013%Rate

Funding earned: $80.36
Price spread: −0.013% → +0.011%: −$2.37
Slippage, 4 orders: −$17.26
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $43.73
Costs to cover: 0.343%
Break-even: 3.2 days

Slippage from Polymarket Perps: live order book, 58 min ago; GRVT: live order book, 56 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	1.92 bp	7.2 bp −$7	7.5 bp −$75	doesn't fit	doesn't fit
Sell GRVT live order book, 56 min ago	2.35 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	233.19	+0.159%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.08	+0.112%	$2.7M	$4.8M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.11	+0.125%	$2.2M	$4.4M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.85	+0.013%	$978	$1.4M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.98	+0.069%	$12K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.07	+0.107%	$1.6M	$968K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0039%	1h	232.93	+0.048%	$22K	$10K	20x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	232.81	−0.004%	$1K	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	232.60	−0.094%	$150K	$520K	10x	as long as short
Vest NBIS-USD-PERP	+0.0052%	1h	233.15	+0.142%	—	$250K	5x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0053%	1h	233.15	+0.142%	$1.6M	$3.6M	10x	as long as short
Polymarket Perps NBIS-USDlong	+0.0062%	1h	232.82	long leg	$129K	$478K	10x
KuCoin NBISUSDTM	+0.0100%	8h	232.90	+0.034%	$472K	$248K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.07	+0.107%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.52	−0.127%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0168%	1h	232.78	−0.018%	$38K	$68K	3x	as long as short
Variational Omni NBIS	+0.0198%	8h	233.48	+0.283%	$2.9M	$623K	—	as long as short
edgeX NBISUSDC	+0.0203%	4h	232.68	−0.061%	$31K	$234K	10x	as long as short
Aster NBISUSDT	+0.0218%	8h	233.62	+0.342%	$81K	$314K	50x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0224%	1h	234.06	+0.533%	$383K	$861K	10x	as long as short
Bybit NBISUSDT	+0.0231%	8h	233.05	+0.099%	$5.4M	$6.9M	50x	as long as short
Binance NBISUSDT	+0.0242%	8h	233.19	+0.159%	$20.6M	$90.4M	25x	as long as short
Extended NBIS-USD	+0.0248%	1h	233.14	+0.137%	$146K	$1.0M	10x	as long as short
BloFin NBIS-USDT	+0.0256%	8h	232.60	−0.094%	$207K	$216K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0309%	1h	232.85	+0.013%	$36K	$50K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0385%	1h	233.01	+0.082%	$55.7M	$18.9M	10x	as long as short
Lighter NBIS	+0.0408%	1h	233.05	+0.099%	$942K	$3.7M	10x	as long as short
Phoenix NBIS	+0.0444%	1h	233.23	+0.176%	$7K	$117K	10x	as long as short
GRVT NBIS_USDT_Perpshort	+0.0445%	8h	232.79	−0.013%	$4K	$101K	10x
Entropy io:NBIS	+0.0696%	1h	233.19	+0.159%	$10.2M	$2.9M	10x	as long as short
Arcus NBIS-USD	+0.0870%	1h	233.02	+0.086%	$43K	$117K	5x	as long as short