Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.002%

Price spread now: Bybit against SoDEX+0.060%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bybit is 0.060% dearer against SoDEX than usual: you sell high and buy low (spread +0.060% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX NBIS-USD	234.24	0.0050	pay 0.0006% / 1h	47m 17s	$80	$21K	10x
Short	Bybit NBISUSDT	234.38	0	get 0.0000% / 8h	3h 47m	$5.0M	$6.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$10.5
Price spread: +0.060% → 0.000%: $5.98
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$23.52
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 1 min ago. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	2.13 bp	14.2 bp −$14	72.6 bp −$726	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 NBISUSDTshort	0.0000%	8h	234.38	+0.060%	$5.0M	$6.3M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	234.26	+0.009%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.30	+0.026%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.39	+0.064%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	234.15	−0.037%	$2.9M	$558K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	233.86	−0.162%	$4K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.38	+0.060%	$916	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.17	−0.030%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.34	+0.043%	$1.6M	$953K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	234.60	+0.153%	$79K	$310K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NBISUSDT	+0.0004%	8h	234.36	+0.051%	$19.3M	$84.6M	25x	as long as short
Extended NBIS-USD	+0.0008%	1h	234.30	+0.024%	$147K	$699K	10x	as long as short
BloFin NBIS-USDT	+0.0011%	8h	234.29	+0.021%	$207K	$206K	20x	as long as short
QFEX NBIS-USD	+0.0034%	1h	234.39	+0.064%	$1.5M	$4.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	234.04	−0.085%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.34	+0.043%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0048%	1h	234.26	+0.007%	$23K	$15K	20x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.25	+0.004%	$147K	$456K	10x	as long as short
SoDEX NBIS-USDlong	+0.0050%	1h	234.24	long leg	$80	$21K	10x
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.88	−0.154%	$160K	$501K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0066%	1h	234.24	0.000%	$54.7M	$19.9M	10x	as long as short
Nado NBIS-PERP	+0.0081%	1h	234.12	−0.049%	$38K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.23	−0.004%	$483K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.28	+0.017%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.27	+0.015%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	235.56	+0.564%	$389K	$724K	10x	as long as short
Phoenix NBIS	+0.0239%	1h	234.02	−0.094%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0296%	1h	234.35	+0.047%	$911K	$3.9M	10x	as long as short
Entropy io:NBIS	+0.0317%	1h	234.17	−0.030%	$10.2M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0346%	4h	233.86	−0.163%	$38K	$227K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0391%	1h	234.27	+0.013%	$35K	$49K	10x	as long as short