NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0054%/8h= +5.9% APRnext payment +$0.07 per $10,000 · paid last 24h +0.100%

Price spread now: Lighter against Polymarket Perps+0.009%45s7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs+$22as 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−$260.265% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.486%+$49 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now +0.009%, 7d avg +0.069%

Together, before fees+0.448%+ Points / potential airdropLighter: Season 3 · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.060% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.069%). If the spread goes back, that is −$6 on $10k: about 3.7 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.486% in total) that is about 21 hours. The two prices were read 45 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	233.05	0.0050	pay 0.0006% / 1h	59m 32s	$139K	$637K	10x
Short	Lighter NBIS	233.07	0.0104	get 0.0013% / 1h	59m 32s	$933K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.009%Rate

Funding earned: $11.34
Price spread: +0.009% → +0.069%: −$6.02
Slippage, 4 orders: −$18.49
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$21.16
Costs to cover: 0.265%
Break-even: 20.1 days

Slippage from Polymarket Perps: live order book, 23 min ago; Lighter: live order book, 3 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, 23 min ago	0.21 bp	9.7 bp −$10	10.4 bp −$104	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	1.50 bp	6.2 bp −$6	17.2 bp −$172	76.2 bp −$7,619	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
Deribit NBIS_USDC-PERPETUAL	−0.0179%	1h	232.84	−0.090%	$35K	$48K	10x	as long as short
BloFin NBIS-USDT	−0.0004%	8h	233.06	+0.004%	$206K	$216K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	233.00	−0.020%	$79K	$304K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.04	−0.004%	$141K	$697K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	233.11	+0.026%	$19.3M	$87.2M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	233.02	−0.013%	$5.1M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.01	−0.017%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.00	−0.021%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.07	+0.009%	$2.5M	$4.8M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.01	−0.015%	$2.8M	$945K	—	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	232.93	−0.051%	$519	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.97	−0.034%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.07	+0.009%	$1.6M	$967K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0005%	8h	232.99	−0.025%	$5K	$147K	10x	as long as short
QFEX NBIS-USD	+0.0033%	1h	233.06	+0.004%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.00	−0.021%	$44K	$134K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.10	+0.021%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USDlong	+0.0050%	1h	233.05	long leg	$139K	$637K	10x
SoDEX NBIS-USD	+0.0050%	1h	233.05	0.000%	$51	$20K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0057%	1h	233.02	−0.014%	$24K	$13K	20x	as long as short
Ondo Perps NBIS-USD.P	+0.0090%	1h	233.05	0.000%	$180K	$521K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.86	−0.082%	$480K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.99	−0.026%	$2K	$4K	10x	as long as short
Lighter NBISshort	+0.0104%	1h	233.07	+0.009%	$933K	$4.6M	10x
Aevo NBIS-PERP	+0.0104%	1h	232.98	−0.029%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0136%	1h	233.02	−0.013%	$356K	$705K	10x	as long as short
Nado NBIS-PERP	+0.0191%	1h	233.00	−0.023%	$28K	$65K	3x	as long as short
Phoenix NBIS	+0.0276%	1h	233.27	+0.094%	$7K	$185K	10x	as long as short
edgeX NBISUSDC	+0.0308%	4h	233.01	−0.018%	$37K	$235K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0317%	1h	233.01	−0.017%	$54.4M	$23.5M	10x	as long as short
Entropy io:NBIS	+0.0364%	1h	232.93	−0.051%	$10.2M	$3.3M	10x	as long as short