Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0346%/8h= +37.9% APRpaid last 24h +0.122%

Price spread now: Kraken Futures against SunX−0.088%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 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

Funding pays, the price is against you. Kraken Futures is 0.088% cheaper against SunX than usual: you would sell low and buy high (spread −0.088% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 20 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	233.95	0	get 0.0000% / 8h	1h 04m	$1K	$1.8M	10x
Short	Kraken Futures PF_NBISUSD	233.74	0.0346	get 0.0043% / 1h	4m 30s	$24K	$13K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.088%Rate

Funding earned: $72.66
Price spread: −0.088% → 0.000%: −$8.83
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $45.82
Costs to cover: 0.180%
Break-even: 2.6 days

Slippage unknown: SunX: live order book, 10 min ago; Kraken Futures: no order-book sample. 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 SunX live order book, 10 min ago	44.69 bp	63.2 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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 NBISUSDT	0.0000%	8h	233.96	+0.004%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.85	−0.043%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.89	−0.026%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.94	−0.004%	$2.5M	$4.7M	20x	as long as short
SunX NBIS-USDTlong	0.0000%	8h	233.95	long leg	$1K	$1.8M	10x
HTX NBIS-USDT	0.0000%	8h	233.89	−0.026%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.96	+0.004%	$1.6M	$971K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0007%	1h	233.73	−0.094%	$35K	$47K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	233.86	−0.038%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.88	−0.030%	$44K	$134K	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	233.97	+0.009%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.90	−0.021%	$132K	$683K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.90	−0.021%	$14	$20K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0072%	1h	233.76	−0.081%	$358K	$701K	10x	as long as short
Variational Omni NBIS	+0.0092%	8h	233.80	−0.063%	$2.9M	$825K	—	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.70	−0.107%	$482K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.81	−0.060%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.80	−0.063%	—	—	10x	as long as short
Aster NBISUSDT	+0.0129%	8h	233.82	−0.058%	$79K	$304K	50x	as long as short
Ondo Perps NBIS-USD.P	+0.0134%	1h	233.80	−0.064%	$173K	$498K	10x	as long as short
Binance NBISUSDT	+0.0143%	8h	233.95	0.000%	$19.4M	$86.9M	25x	as long as short
Extended NBIS-USD	+0.0144%	1h	233.94	−0.002%	$142K	$697K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0155%	8h	233.87	−0.035%	$5K	$142K	10x	as long as short
BloFin NBIS-USDT	+0.0163%	8h	233.91	−0.017%	$206K	$214K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0216%	1h	233.87	−0.034%	$54.5M	$23.4M	10x	as long as short
Lighter NBIS	+0.0256%	1h	233.98	+0.013%	$930K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0266%	1h	233.78	−0.075%	$28K	$63K	3x	as long as short
Entropy io:NBIS	+0.0335%	1h	233.88	−0.030%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0343%	1h	234.04	+0.038%	$7K	$185K	10x	as long as short
Kraken Futures PF_NBISUSDshort	+0.0346%	1h	233.74	−0.088%	$24K	$13K	20x
edgeX NBISUSDC	+0.0512%	4h	233.81	−0.060%	$37K	$234K	10x	as long as short