Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h −0.011%

Price spread now: SunX against QFEX+0.064%7-day average +0.009% · 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−$137as in the Price arb table

costs, in and out, $10k−$1421.423% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.016%−$2 on $10k

Price spread, last 3 days (all we have)−0.087%−$9 · spread now +0.064%, 7d avg +0.009%

Together, before fees−0.104%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.054% dearer against QFEX than usual: you sell high and buy low (spread +0.064% now, against its 7-day average of +0.009%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 3 days (−0.016% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NBIS-USD	234.93	0.0051	pay 0.0006% / 1h	17m 59s	$1.5M	$5.2M	10x
Short	SunX NBIS-USDT	235.08	0	get 0.0000% / 8h	17m 59s	$1K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.064%Rate

Funding earned: −$10.68
Price spread: +0.064% → +0.009%: $5.44
Slippage, 4 orders: −$124.33
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$147.58
Costs to cover: 1.423%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; SunX: 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 QFEX live order book, 6 min ago	1.92 bp	7.7 bp −$8	10.2 bp −$102	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	44.93 bp	64.1 bp −$64	doesn't fit	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
Bybit NBISUSDT	0.0000%	8h	235.11	+0.077%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.03	+0.043%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.01	+0.034%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.05	+0.051%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDTshort	0.0000%	8h	235.08	+0.064%	$1K	$1.8M	10x
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.93	0.000%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	233.76	−0.498%	$358K	$676K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	236.05	+0.477%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.07	+0.060%	$1.6M	$973K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.18	+0.106%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	235.03	+0.043%	$150K	$723K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.03	+0.043%	$28	$20K	10x	as long as short
QFEX NBIS-USDlong	+0.0051%	1h	234.93	long leg	$1.5M	$5.2M	10x
Ondo Perps NBIS-USD.P	+0.0079%	1h	234.89	−0.017%	$174K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.82	−0.047%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.04	+0.047%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.06	+0.056%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0195%	1h	234.91	−0.011%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	234.86	−0.028%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0235%	8h	235.26	+0.139%	$79K	$308K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.75	−0.077%	$24K	$14K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0252%	8h	234.83	−0.043%	$5K	$139K	10x	as long as short
Binance NBISUSDT	+0.0253%	8h	235.05	+0.051%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USD	+0.0256%	1h	235.01	+0.032%	$141K	$701K	10x	as long as short
BloFin NBIS-USDT	+0.0262%	8h	234.98	+0.021%	$206K	$214K	20x	as long as short
Arcus NBIS-USD	+0.0269%	1h	235.02	+0.038%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0306%	1h	235.10	+0.072%	$54.8M	$23.4M	10x	as long as short
edgeX NBISUSDC	+0.0366%	4h	234.75	−0.078%	$38K	$235K	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.01	+0.034%	$7K	$163K	10x	as long as short
Lighter NBIS	+0.0376%	1h	235.14	+0.089%	$934K	$4.6M	10x	as long as short
Entropy io:NBIS	+0.0488%	1h	234.93	0.000%	$10.3M	$3.4M	10x	as long as short