Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0649%/8h= −71.0% APRpaid last 24h −0.012%

Price spread now: Bitget against QFEX+0.087%7-day average +0.050% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$490.487% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.036%+$4 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.087%, 7d avg +0.050%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.036% dearer against QFEX than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of +0.050%): +$4 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 4 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.036% in total (about 3.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NBIS-USD	230.57	0.0056	pay 0.0007% / 1h	30m 33s	$1.5M	$3.8M	10x
Short	Bitget NBISUSDT	230.77	−0.0593	pay 0.0593% / 8h	1h 30m	$2.3M	$4.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$136.22
Price spread: +0.087% → +0.050%: $3.65
Slippage, 4 orders: −$26.73
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$181.31
Costs to cover: 0.487%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; Bitget: live order book, 2 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, 3 min ago	2.38 bp	7.4 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.38 bp	15.3 bp −$15	25.0 bp −$250	43.9 bp −$4,387	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 NBISUSDTshort	−0.0593%	8h	230.77	+0.087%	$2.3M	$4.5M	20x
Aster NBISUSDT	0.0000%	8h	230.61	+0.019%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.63	+0.027%	$149K	$635K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.73	+0.069%	$18.5M	$87.4M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.60	+0.013%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.62	+0.022%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.78	+0.091%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.57	0.000%	$2.8M	$601K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.73	+0.071%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.50	−0.030%	$1K	$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	230.73	+0.069%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.59	+0.009%	$1.6M	$963K	10x	as long as short
BloFin NBIS-USDT	+0.0026%	8h	230.51	−0.026%	$204K	$204K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.34	−0.100%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.43	−0.061%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.48	−0.039%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.49	−0.035%	$111	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.38	−0.082%	$152K	$547K	10x	as long as short
QFEX NBIS-USDlong	+0.0056%	1h	230.57	long leg	$1.5M	$3.8M	10x
Nado NBIS-PERP	+0.0061%	1h	230.26	−0.134%	$37K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.39	−0.078%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.47	−0.043%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.43	−0.059%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0106%	1h	230.51	−0.026%	$54.2M	$21.0M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.39	−0.078%	$351K	$812K	10x	as long as short
Lighter NBIS	+0.0224%	1h	230.46	−0.048%	$951K	$4.0M	10x	as long as short
edgeX NBISUSDC	+0.0309%	4h	230.61	+0.018%	$37K	$227K	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.30	−0.117%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0343%	1h	230.41	−0.069%	$10.0M	$3.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0532%	1h	230.40	−0.074%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0686%	1h	230.52	−0.020%	$23K	$15K	20x	as long as short