Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h +0.017%

Price spread now: Binance against QFEX−0.009%7-day average +0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.081%+$8 on $10k

Price spread, last 7 days+0.055%+$5 · spread now −0.009%, 7d avg +0.060%

Together, before fees+0.136%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Binance is 0.069% cheaper against QFEX than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.060%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.081%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NBIS-USD	230.85	0.0056	pay 0.0007% / 1h	3m 31s	$1.5M	$3.8M	10x
Short	Binance NBISUSDT	230.83	0	get 0.0000% / 8h	1h 03m	$18.5M	$87.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against QFEX. 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 QFEXbpFee BinancebpOrdersPrice spread, now −0.009%Rate

Funding earned: −$11.69
Price spread: −0.009% → +0.060%: −$6.9
Slippage, 4 orders: −$14.69
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$53.29
Costs to cover: 0.347%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Binance: live order book, 9 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 QFEX live order book, 5 min ago	3.90 bp	8.9 bp −$9	12.3 bp −$123	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	0.22 bp	10.4 bp −$10	32.8 bp −$328	93.9 bp −$9,389	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	−0.0546%	8h	230.95	+0.043%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0004%	8h	231.04	+0.082%	$204K	$205K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.77	−0.037%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.81	−0.016%	$149K	$631K	10x	as long as short
Binance NBISUSDTshort	0.0000%	8h	230.83	−0.009%	$18.5M	$87.6M	25x
Bybit NBISUSDT	0.0000%	8h	230.92	+0.030%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.76	−0.039%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.92	+0.030%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.09	+0.104%	$2.8M	$595K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.01	+0.070%	$5K	$116K	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	230.97	+0.052%	$889	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.89	+0.017%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.98	+0.056%	$1.6M	$966K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.87	+0.009%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.75	−0.043%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.87	+0.009%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.96	+0.048%	$134	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.77	−0.035%	$151K	$542K	10x	as long as short
QFEX NBIS-USDlong	+0.0056%	1h	230.85	long leg	$1.5M	$3.8M	10x
Nado NBIS-PERP	+0.0079%	1h	230.75	−0.044%	$38K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.75	−0.043%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.98	+0.056%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.91	+0.028%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.38	−0.204%	$352K	$814K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0124%	1h	230.88	+0.013%	$54.2M	$21.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0183%	1h	230.84	−0.004%	$34K	$49K	10x	as long as short
Lighter NBIS	+0.0224%	1h	230.86	+0.004%	$936K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.15	+0.130%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0359%	1h	230.85	0.000%	$10.1M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0530%	4h	230.99	+0.061%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0685%	1h	230.85	0.000%	$23K	$15K	20x	as long as short