Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h +0.016%

Price spread now: BloFin against QFEX+0.048%7-day average +0.027% · 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−$34as in the Price arb table

costs, in and out, $10k−$360.365% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.078%+$8 on $10k

Price spread, last 4 days (all we have)−0.075%−$8 · spread now +0.048%, 7d avg +0.027%

Together, before fees+0.003%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.021% dearer against QFEX than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of +0.027%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 42 hours. Mind the row above: over the last 4 days funding on this pair paid +0.078%, 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	231.23	0.0041	pay 0.0005% / 1h	11m 58s	$1.5M	$3.7M	10x
Short	BloFin NBIS-USDT	231.34	0.0001	get 0.0001% / 8h	11m 58s	$204K	$212K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$8.26
Price spread: +0.048% → +0.027%: $2.08
Slippage, 4 orders: −$14.48
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$42.66
Costs to cover: 0.365%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; BloFin: live order book, 59 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, 6 min ago	3.24 bp	8.2 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit
Sell BloFin live order book, 59 min ago	0.22 bp	11.6 bp −$12	22.4 bp −$224	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	−0.0374%	8h	231.17	−0.026%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.22	−0.006%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.05	−0.079%	$144K	$878K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.12	−0.046%	$18.8M	$87.9M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.10	−0.056%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.04	−0.082%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.12	−0.048%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.19	−0.018%	$2.8M	$589K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	+0.026%	$4K	$115K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.40	+0.074%	$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	231.41	+0.078%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.12	−0.048%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDTshort	+0.0001%	8h	231.34	+0.048%	$204K	$212K	20x
Arcus NBIS-USD	+0.0040%	1h	231.08	−0.065%	$42K	$131K	5x	as long as short
QFEX NBIS-USDlong	+0.0041%	1h	231.23	long leg	$1.5M	$3.7M	10x
Vest NBIS-USD-PERP	+0.0046%	1h	231.13	−0.043%	—	$223K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.07	−0.069%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.12	−0.048%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.363%	$353K	$805K	10x	as long as short
SoDEX NBIS-USD	+0.0059%	1h	231.05	−0.078%	$79	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.94	−0.125%	$475K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.10	−0.056%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.07	−0.071%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0115%	1h	231.00	−0.099%	$54.1M	$21.2M	10x	as long as short
Nado NBIS-PERP	+0.0187%	1h	230.99	−0.106%	$38K	$116K	3x	as long as short
Lighter NBIS	+0.0280%	1h	231.03	−0.086%	$942K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0312%	1h	231.30	+0.030%	$7K	$125K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0356%	1h	231.03	−0.086%	$34K	$49K	10x	as long as short
Entropy io:NBIS	+0.0419%	1h	231.22	−0.004%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.06	−0.074%	$23K	$15K	20x	as long as short
edgeX NBISUSDC	+0.0839%	4h	231.21	−0.009%	$37K	$228K	10x	as long as short