Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX+0.021%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$226as in the Funding arb table

Net, price: spread back to 7d avg − costs−$225as in the Price arb table

costs, in and out, $10k−$2262.258% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.009%−$1 · spread now +0.021%, 7d avg +0.013%

Together, before fees−0.009%−$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	235.77	0	get 0.0000% / 8h	7h 30m	$1K	$1.7M	10x
Short	Phemex NBISUSDT	235.82	0	get 0.0000% / 8h	7h 30m	$1.6M	$973K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.021%Rate

Funding earned: $0
Price spread: +0.021% → +0.013%: $0.79
Slippage, 4 orders: −$205.78
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$224.99
Costs to cover: 2.258%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; Phemex: live order book, 3 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, 5 min ago	44.83 bp	63.2 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.76 bp	49.5 bp −$49	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.63	−0.057%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.77	0.000%	$3.4M	$16.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.72	−0.021%	$2.8M	$5.1M	50x	as long as short
SunX NBIS-USDTlong	0.0000%	8h	235.77	long leg	$1K	$1.7M	10x
HTX NBIS-USDT	0.0000%	8h	235.80	+0.013%	$15K	$112K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	235.82	+0.021%	$1.6M	$973K	10x
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.119%	$386K	$739K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.68	−0.038%	$1.5M	$5.0M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.90	+0.055%	—	$224K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.64	−0.055%	$175K	$505K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NBISUSDT	+0.0053%	8h	235.77	0.000%	$2.5M	$4.7M	20x	as long as short
Bybit NBISUSDT	+0.0099%	8h	235.80	+0.013%	$5.1M	$6.5M	50x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.58	−0.081%	$486K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.84	+0.030%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.84	+0.029%	—	—	10x	as long as short
SoDEX NBIS-USD	+0.0135%	1h	235.75	−0.008%	$42	$20K	10x	as long as short
Nado NBIS-PERP	+0.0194%	1h	235.45	−0.136%	$29K	$63K	3x	as long as short
BloFin NBIS-USDT	+0.0228%	8h	235.72	−0.021%	$207K	$212K	20x	as long as short
Variational Omni NBIS	+0.0230%	8h	235.75	−0.009%	$2.9M	$820K	—	as long as short
Aster NBISUSDT	+0.0240%	8h	235.87	+0.043%	$82K	$308K	50x	as long as short
Extended NBIS-USD	+0.0264%	1h	235.79	+0.009%	$151K	$955K	10x	as long as short
Binance NBISUSDT	+0.0264%	8h	235.84	+0.030%	$19.6M	$85.6M	25x	as long as short
Lighter NBIS	+0.0312%	1h	235.93	+0.068%	$928K	$4.5M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.51	−0.110%	$44K	$132K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0373%	1h	235.76	−0.004%	$135K	$433K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0384%	8h	235.42	−0.147%	$5K	$133K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.58	−0.081%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0424%	4h	235.38	−0.164%	$38K	$228K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0481%	1h	235.82	+0.021%	$55.2M	$23.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0514%	1h	235.87	+0.042%	$35K	$48K	10x	as long as short
Entropy io:NBIS	+0.0898%	1h	235.54	−0.098%	$10.3M	$3.4M	10x	as long as short