Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Ondo Perps against Polymarket Perps+0.017%50s7-day average −0.018% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.628%−$63 · spread now +0.017%, 7d avg −0.018%

Together, before fees−0.542%+ Points / potential airdropOndo Perps: Active · farm board−$54 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.036% dearer against Polymarket Perps than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.018%. The two prices were read 50 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	234.06	0.0050	pay 0.0006% / 1h	53m 36s	$149K	$453K	10x
Short	Ondo Perps NBIS-USD.P	234.10	0.0050	get 0.0006% / 1h	53m 36s	$163K	$496K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now +0.017%Rate

Funding earned: $0.08
Price spread: +0.017% → −0.018%: $3.56
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$9.36
Costs to cover: 0.130%
Break-even: 786.8 days

Slippage unknown: Polymarket Perps: live order book, 9 min ago; Ondo Perps: no order-book sample. Net counts fees only.

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, 9 min ago	2.35 bp	7.6 bp −$8	8.5 bp −$85	31.5 bp −$3,150	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NBIS on 30 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
Bybit NBISUSDT	0.0000%	8h	234.19	+0.056%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.10	+0.017%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.19	+0.056%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.11	+0.021%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.04	−0.009%	$5K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.08	+0.009%	$904	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.07	+0.004%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.07	+0.004%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.14	+0.034%	$1.6M	$968K	10x	as long as short
QFEX NBIS-USD	+0.0023%	1h	234.20	+0.060%	$1.5M	$4.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado NBIS-PERP	+0.0039%	1h	234.09	+0.011%	$67K	$95K	3x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.95	−0.047%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.29	+0.098%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USDlong	+0.0050%	1h	234.06	long leg	$149K	$453K	10x
SoDEX NBIS-USD	+0.0050%	1h	234.07	+0.004%	$5	$20K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	234.10	+0.017%	$163K	$496K	10x
KuCoin NBISUSDTM	+0.0100%	8h	234.08	+0.009%	$482K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.13	+0.030%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.11	+0.021%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.226%	$382K	$712K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0110%	1h	234.04	−0.009%	$54.6M	$19.7M	10x	as long as short
Variational Omni NBIS	+0.0132%	8h	234.03	−0.014%	$2.8M	$570K	—	as long as short
Aster NBISUSDT	+0.0147%	8h	234.31	+0.107%	$81K	$307K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.15	+0.039%	$23K	$15K	20x	as long as short
Binance NBISUSDT	+0.0158%	8h	234.15	+0.039%	$19.1M	$84.7M	25x	as long as short
Extended NBIS-USD	+0.0160%	1h	234.08	+0.010%	$147K	$698K	10x	as long as short
Lighter NBIS	+0.0304%	1h	234.18	+0.051%	$904K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.19	+0.056%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0473%	1h	234.07	+0.004%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0592%	4h	234.09	+0.013%	$38K	$226K	10x	as long as short