NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0192%/8h= +21.0% APRnext payment +$0.24 per $10,000 · paid last 24h +0.082%

Price spread now: Phoenix against Polymarket Perps+0.199%59s7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs+$4as 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−$480.475% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.516%+$52 on $10k

Price spread, last 4 days (all we have)−0.125%−$12 · spread now +0.199%, 7d avg +0.107%

Together, before fees+0.391%+$39 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.092% dearer against Polymarket Perps than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.107%. The two prices were read 59 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	230.73	0.0050	pay 0.0006% / 1h	33m 38s	$137K	$473K	10x
Short	Phoenix NBIS	231.19	0.0242	get 0.0030% / 1h	33m 38s	$7K	$150K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.199%Rate

Funding earned: $40.22
Price spread: +0.199% → +0.107%: $9.23
Slippage, 4 orders: −$32.52
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $1.93
Costs to cover: 0.475%
Break-even: 6.7 days

Slippage from Polymarket Perps: live order book, 14 min ago; Phoenix: live order book, 7 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, 14 min ago	1.73 bp	7.4 bp −$7	7.8 bp −$78	32.0 bp −$3,204	doesn't fit
Sell Phoenix live order book, 7 min ago	6.07 bp	17.2 bp −$17	37.7 bp −$377	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	−0.0334%	8h	230.69	−0.017%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0003%	8h	231.11	+0.165%	$207K	$204K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.71	−0.011%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.59	−0.061%	$144K	$753K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.66	−0.030%	$18.4M	$86.4M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.70	−0.013%	$4.9M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.65	−0.035%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.70	−0.013%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.06	+0.145%	$2.9M	$555K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.34	+0.266%	$5K	$118K	10x	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	230.75	+0.009%	$711	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.50	−0.100%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.30	+0.247%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.75	+0.009%	$1.6M	$956K	10x	as long as short
Nado NBIS-PERP	+0.0021%	1h	230.81	+0.035%	$38K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0029%	1h	230.69	−0.017%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.79	+0.026%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.77	+0.017%	—	$219K	5x	as long as short
Polymarket Perps NBIS-USDlong	+0.0050%	1h	230.73	long leg	$137K	$473K	10x
SoDEX NBIS-USD	+0.0050%	1h	230.74	+0.004%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.69	−0.017%	$160K	$522K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0052%	1h	230.61	−0.052%	$53.6M	$20.4M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.60	−0.056%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.58	−0.065%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.61	−0.051%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	230.16	−0.247%	$352K	$791K	10x	as long as short
Lighter NBIS	+0.0208%	1h	230.69	−0.017%	$920K	$3.9M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0223%	1h	230.62	−0.047%	$23K	$15K	20x	as long as short
Phoenix NBISshort	+0.0242%	1h	231.19	+0.199%	$7K	$150K	10x
Entropy io:NBIS	+0.0311%	1h	230.85	+0.052%	$10.0M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0937%	4h	231.26	+0.229%	$37K	$226K	10x	as long as short