Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.014%

Price spread now: OKX against Polymarket Perps−0.004%47s7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as 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−$350.354% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.004%, 7d avg −0.001%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.001%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 47 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	230.83	0.0050	pay 0.0006% / 1h	0m 40s	$137K	$473K	10x
Short	OKX NBIS-USDT-SWAP	230.82	0	get 0.0000% / 8h	1h 00m	$3.3M	$16.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$10.5
Price spread: −0.004% → −0.001%: −$0.38
Slippage, 4 orders: −$17.37
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$46.24
Costs to cover: 0.354%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 42 min ago; OKX: 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, 42 min ago	2.82 bp	8.9 bp −$9	9.5 bp −$95	30.2 bp −$3,020	doesn't fit
Sell OKX live order book, 3 min ago	1.30 bp	11.3 bp −$11	28.1 bp −$281	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	−0.0540%	8h	230.95	+0.052%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.76	−0.029%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.86	+0.011%	$149K	$631K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.91	+0.035%	$18.5M	$87.6M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.92	+0.039%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	230.82	−0.004%	$3.3M	$16.1M	25x
Gate NBIS_USDT	0.0000%	8h	230.93	+0.043%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.87	+0.017%	$2.8M	$595K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.95	+0.052%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.93	+0.043%	$889	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	230.97	+0.061%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.92	+0.039%	$1.6M	$966K	10x	as long as short
BloFin NBIS-USDT	+0.0009%	8h	230.93	+0.043%	$204K	$205K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.82	−0.004%	$42K	$132K	5x	as long as short
edgeX NBISUSDC	+0.0045%	4h	230.84	+0.006%	$37K	$227K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.73	−0.043%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USDlong	+0.0050%	1h	230.83	long leg	$137K	$473K	10x
SoDEX NBIS-USD	+0.0050%	1h	230.85	+0.009%	$134	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.77	−0.026%	$151K	$542K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.89	+0.026%	$1.5M	$3.8M	10x	as long as short
Nado NBIS-PERP	+0.0080%	1h	230.68	−0.065%	$37K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.78	−0.022%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.84	+0.004%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.81	−0.011%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.38	−0.195%	$352K	$814K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0132%	1h	230.90	+0.030%	$54.2M	$21.1M	10x	as long as short
Lighter NBIS	+0.0232%	1h	230.96	+0.056%	$938K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.11	+0.121%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0360%	1h	230.86	+0.013%	$10.1M	$3.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0530%	1h	230.81	−0.009%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0685%	1h	230.77	−0.025%	$23K	$15K	20x	as long as short