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 +0.069%

Price spread now: tradeXYZ against SunX−0.026%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$120as in the Funding arb table

Net, price: spread back to 7d avg − costs−$155as in the Price arb table

costs, in and out, $10k−$1521.520% of the position

Long on SunX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.318%+$32 on $10k

Price spread, last 4 days (all we have)+0.073%+$7 · spread now −0.026%, 7d avg +0.003%

Together, before fees+0.391%+ Points / potential airdroptradeXYZ: Active · farm board+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.029% cheaper against SunX than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.003%). If the spread goes back, that is −$3 on $10k: about 46 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.318% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	233.38	0	get 0.0000% / 8h	3h 13m	$899	$1.6M	10x
Short	tradeXYZ xyz:NBIS	233.32	0.0050	get 0.0006% / 1h	13m 47s	$54.4M	$20.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.026%Rate

Funding earned: $10.5
Price spread: −0.026% → +0.003%: −$2.91
Slippage, 4 orders: −$125.99
Fee SunX: 4 bp × 2 orders: −$8
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$144.39
Costs to cover: 1.520%
Break-even: 103.3 days

Slippage from SunX: live order book, 11 min ago; tradeXYZ: live order book, 5 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, 11 min ago	45.17 bp	63.5 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 5 min ago	1.07 bp	11.8 bp −$12	15.8 bp −$158	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
Aster NBISUSDT	0.0000%	8h	233.39	+0.003%	$78K	$310K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.26	−0.050%	$146K	$635K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	233.35	−0.013%	$19.0M	$85.2M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	233.41	+0.013%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.36	−0.009%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.36	−0.009%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.38	0.000%	$2.3M	$4.5M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.10	−0.118%	$2.9M	$552K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.98	−0.173%	$5K	$120K	10x	as long as short
SunX NBIS-USDTlong	0.0000%	8h	233.38	long leg	$899	$1.6M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.28	−0.043%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.51	+0.056%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.39	+0.004%	$1.6M	$955K	10x	as long as short
Nado NBIS-PERP	+0.0017%	1h	233.36	−0.007%	$38K	$115K	3x	as long as short
BloFin NBIS-USDT	+0.0030%	8h	233.30	−0.034%	$206K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0034%	1h	233.37	−0.004%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.05	−0.141%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.48	+0.043%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0049%	1h	233.32	−0.027%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBISshort	+0.0050%	1h	233.32	−0.026%	$54.4M	$20.1M	10x
Polymarket Perps NBIS-USD	+0.0050%	1h	233.33	−0.021%	$143K	$460K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.33	−0.021%	$107	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.35	−0.013%	$160K	$501K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.26	−0.051%	$481K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.35	−0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.26	−0.054%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.28	−0.043%	$362K	$773K	10x	as long as short
edgeX NBISUSDC	+0.0114%	4h	232.90	−0.204%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0216%	1h	233.40	+0.009%	$926K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0239%	1h	232.87	−0.219%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0301%	1h	233.24	−0.060%	$10.1M	$3.2M	10x	as long as short