Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.056%

Price spread now: Ondo Perps against tradeXYZ−0.047%7-day average −0.023% · you buy dearer than you sell

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

Long on tradeXYZ Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$15 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.047%, 7d avg −0.023%

Together, before fees−0.052%+ Points / potential airdroptradeXYZ: Active · Ondo Perps: Active · farm board−$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.024% cheaper against tradeXYZ than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.023%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NBIS	235.35	0.0050	pay 0.0006% / 1h	10m 38s	$54.9M	$19.9M	10x
Short	Ondo Perps NBIS-USD.P	235.24	0.0050	get 0.0006% / 1h	10m 38s	$161K	$503K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.047%Rate

Funding earned: $0.08
Price spread: −0.047% → −0.023%: −$2.38
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$25.3
Costs to cover: 0.230%
Break-even: 2115.1 days

Slippage unknown: tradeXYZ: live order book, 8 min ago; Ondo Perps: 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 tradeXYZ live order book, 8 min ago	1.06 bp	13.0 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Nado NBIS-PERP	−0.0055%	1h	235.26	−0.037%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.40	+0.021%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.34	−0.004%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.41	+0.025%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.42	+0.030%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	235.40	+0.022%	$2.9M	$561K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.29	−0.025%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.44	+0.038%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.32	−0.013%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.47	+0.051%	$1.6M	$955K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX NBISUSDC	+0.0029%	4h	235.20	−0.064%	$38K	$227K	10x	as long as short
Aster NBISUSDT	+0.0036%	8h	235.33	−0.009%	$79K	$310K	50x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.34	−0.004%	$1.5M	$4.2M	10x	as long as short
Extended NBIS-USD	+0.0040%	1h	235.32	−0.011%	$150K	$701K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.22	−0.055%	$43K	$132K	5x	as long as short
Binance NBISUSDT	+0.0041%	8h	235.41	+0.025%	$19.4M	$84.5M	25x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.54	+0.081%	—	$216K	5x	as long as short
tradeXYZ xyz:NBISlong	+0.0050%	1h	235.35	long leg	$54.9M	$19.9M	10x
Polymarket Perps NBIS-USD	+0.0050%	1h	235.29	−0.025%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.34	−0.004%	$52	$21K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	235.24	−0.047%	$161K	$503K	10x
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.56	+0.089%	$389K	$724K	10x	as long as short
BloFin NBIS-USDT	+0.0058%	8h	235.45	+0.042%	$207K	$205K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.11	−0.102%	$484K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.29	−0.025%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.27	−0.036%	—	—	10x	as long as short
Lighter NBIS	+0.0160%	1h	235.32	−0.013%	$903K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.26	−0.038%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0426%	1h	235.25	−0.042%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.41	+0.024%	$24K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0899%	1h	235.30	−0.021%	$35K	$49K	10x	as long as short