Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0589%/8h= −64.5% APRpaid last 24h −0.050%

Price spread now: BloFin against tradeXYZ+0.042%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on tradeXYZ Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now +0.042%, 7d avg +0.010%

Together, before fees−0.272%+ Points / potential airdroptradeXYZ: Active · farm board−$27 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.032% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of +0.010%): +$3 on $10k if it goes back. Holding the pair costs −$18 a day in funding at the current rate, which eats that in about 4 hours. At the pace of the last 7 days (−0.188% in total) that is about 29 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.188% in total (about -9.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NBIS	236.04	0.0841	pay 0.0105% / 1h	45m 04s	$55.2M	$23.6M	10x
Short	BloFin NBIS-USDT	236.14	0.0253	get 0.0253% / 8h	7h 45m	$205K	$213K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against tradeXYZ. 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 tradeXYZbpFee BloFinbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$123.63
Price spread: +0.042% → +0.010%: $3.25
Slippage, 4 orders: −$10.23
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$160.61
Costs to cover: 0.402%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 3 min ago; BloFin: live order book, 20 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 tradeXYZ live order book, 3 min ago	0.21 bp	11.0 bp −$11	18.3 bp −$183	doesn't fit	doesn't fit
Sell BloFin live order book, 20 min ago	2.35 bp	9.7 bp −$10	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.97	−0.031%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	236.08	+0.017%	$3.4M	$16.9M	25x	as long as short
Bitget NBISUSDT	0.0000%	8h	236.10	+0.025%	$2.5M	$4.7M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	236.35	+0.131%	$1K	$1.7M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.99	−0.021%	$1.6M	$973K	10x	as long as short
HTX NBIS-USDT	+0.0008%	8h	236.39	+0.148%	$15K	$112K	20x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	235.49	−0.233%	$361K	$683K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	236.13	+0.038%	$1.5M	$5.1M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	236.44	+0.169%	—	$234K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	236.21	+0.072%	$175K	$507K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate NBIS_USDT	+0.0091%	8h	236.06	+0.008%	$2.8M	$5.1M	50x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.92	−0.051%	$486K	$24K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	236.15	+0.047%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	236.03	−0.004%	—	—	10x	as long as short
Variational Omni NBIS	+0.0213%	8h	236.31	+0.116%	$2.9M	$817K	—	as long as short
Nado NBIS-PERP	+0.0214%	1h	236.14	+0.042%	$29K	$63K	3x	as long as short
Aster NBISUSDT	+0.0231%	8h	235.93	−0.047%	$82K	$308K	50x	as long as short
Bybit NBISUSDT	+0.0233%	8h	236.15	+0.047%	$5.2M	$6.5M	50x	as long as short
Extended NBIS-USD	+0.0248%	1h	236.04	+0.001%	$137K	$850K	10x	as long as short
Binance NBISUSDT	+0.0250%	8h	236.10	+0.025%	$19.6M	$85.9M	25x	as long as short
BloFin NBIS-USDTshort	+0.0253%	8h	236.14	+0.042%	$205K	$213K	20x
Deribit NBIS_USDC-PERPETUAL	+0.0301%	1h	236.01	−0.013%	$35K	$48K	10x	as long as short
Lighter NBIS	+0.0360%	1h	236.14	+0.042%	$929K	$4.4M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	236.11	+0.030%	$44K	$132K	5x	as long as short
edgeX NBISUSDC	+0.0391%	4h	236.21	+0.073%	$38K	$229K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	236.34	+0.127%	$7K	$163K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0498%	8h	236.24	+0.084%	$5K	$137K	10x	as long as short
SoDEX NBIS-USD	+0.0525%	1h	236.02	−0.008%	$33	$20K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0726%	1h	236.07	+0.013%	$138K	$431K	10x	as long as short
tradeXYZ xyz:NBISlong	+0.0841%	1h	236.04	long leg	$55.2M	$23.6M	10x
Entropy io:NBIS	+0.0940%	1h	236.10	+0.025%	$10.3M	$3.4M	10x	as long as short