Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.108%

Price spread now: Coinbase International against SunX−0.453%7-day average +0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$214as in the Price arb table

costs, in and out, $10k−$1591.591% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.523%+$52 on $10k

Price spread, last 3 days (all we have)+0.601%+$60 · spread now −0.453%, 7d avg +0.098%

Together, before fees+1.123%+$112 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.551% cheaper against SunX than usual: you would sell low and buy high (spread −0.453% now, against its 7-day average of +0.098%). If the spread goes back, that is −$55 on $10k: about 25 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.523% in total) that is about 7.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	234.05	0	get 0.0000% / 8h	1h 19m	$1K	$1.8M	10x
Short	Coinbase International NBIS-PERP-INTX	232.99	0.0072	get 0.0009% / 1h	19m 40s	$356K	$697K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.453%Rate

Funding earned: $15.12
Price spread: −0.453% → +0.098%: −$55.06
Slippage, 4 orders: −$141.13
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$199.06
Costs to cover: 1.591%
Break-even: 99.2 days

Slippage from SunX: live order book, 6 min ago; Coinbase International: live order book, 64 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 SunX live order book, 6 min ago	45.06 bp	63.5 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 64 min ago	10.50 bp	15.5 bp −$16	22.9 bp −$229	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	233.87	−0.077%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.90	−0.064%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.91	−0.060%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.93	−0.051%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDTlong	0.0000%	8h	234.05	long leg	$1K	$1.8M	10x
HTX NBIS-USDT	0.0000%	8h	234.05	0.000%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.01	−0.017%	$1.6M	$968K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	233.94	−0.047%	$1.5M	$5.1M	10x	as long as short
Variational Omni NBIS	+0.0039%	8h	234.04	−0.006%	$2.9M	$825K	—	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.96	−0.038%	$44K	$133K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	234.08	+0.013%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.97	−0.034%	$148K	$657K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.97	−0.034%	$19	$20K	10x	as long as short
BloFin NBIS-USDT	+0.0054%	8h	234.06	+0.004%	$206K	$214K	20x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0072%	1h	232.99	−0.453%	$356K	$697K	10x
Aster NBISUSDT	+0.0080%	8h	233.83	−0.095%	$79K	$304K	50x	as long as short
Extended NBIS-USD	+0.0080%	1h	233.95	−0.043%	$142K	$697K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0084%	1h	233.92	−0.056%	$174K	$499K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0087%	8h	234.09	+0.016%	$5K	$144K	10x	as long as short
Binance NBISUSDT	+0.0090%	8h	233.97	−0.034%	$19.4M	$86.9M	25x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.67	−0.162%	$481K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.93	−0.051%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.94	−0.046%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0196%	1h	234.01	−0.017%	$54.6M	$23.5M	10x	as long as short
Lighter NBIS	+0.0224%	1h	234.02	−0.013%	$935K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0246%	1h	233.80	−0.109%	$28K	$63K	3x	as long as short
Entropy io:NBIS	+0.0310%	1h	233.97	−0.034%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0343%	1h	234.19	+0.060%	$7K	$185K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0346%	1h	233.84	−0.089%	$24K	$13K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0349%	1h	233.91	−0.060%	$35K	$47K	10x	as long as short
edgeX NBISUSDC	+0.0486%	4h	234.09	+0.019%	$37K	$234K	10x	as long as short