Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.049%

Price spread now: Orderly against tradeXYZ−0.039%7-day average — · you buy dearer than you sell

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

Long on tradeXYZ Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdroptradeXYZ: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Orderly is 0.039% cheaper against tradeXYZ than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NBIS	233.53	0.0113	pay 0.0014% / 1h	35m 00s	$54.7M	$20.0M	10x
Short	Orderly PERP_NBIS_USDC_mythos	233.44	0.0100	get 0.0100% / 8h	6h 35m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.039%Rate

Funding earned: −$2.65
Price spread: −0.039% → 0.000%: −$3.85
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$30.5
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 3 min ago; Orderly: 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, 3 min ago	1.50 bp	12.1 bp −$12	16.4 bp −$164	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	233.58	+0.021%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.63	+0.043%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.59	+0.026%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.66	+0.056%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.56	+0.013%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.40	−0.056%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.58	+0.021%	$1.6M	$972K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0016%	8h	233.46	−0.028%	$5K	$129K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.49	−0.017%	$1.5M	$4.6M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.35	−0.077%	$42K	$132K	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	233.55	+0.009%	—	$226K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.44	−0.039%	$148K	$456K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.43	−0.043%	$93	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.49	−0.017%	$163K	$499K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.39	−0.059%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.38	−0.064%	$481K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythosshort	+0.0100%	8h	233.44	−0.039%	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	233.43	−0.043%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.079%	$386K	$721K	10x	as long as short
tradeXYZ xyz:NBISlong	+0.0113%	1h	233.53	long leg	$54.7M	$20.0M	10x
Nado NBIS-PERP	+0.0139%	1h	233.26	−0.114%	$67K	$94K	3x	as long as short
Variational Omni NBIS	+0.0207%	8h	233.54	+0.004%	$2.8M	$571K	—	as long as short
Aster NBISUSDT	+0.0211%	8h	233.63	+0.042%	$81K	$314K	50x	as long as short
Binance NBISUSDT	+0.0231%	8h	233.56	+0.011%	$19.2M	$85.0M	25x	as long as short
Extended NBIS-USD	+0.0232%	1h	233.46	−0.030%	$150K	$701K	10x	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.218%	$207K	$209K	20x	as long as short
Lighter NBIS	+0.0296%	1h	233.46	−0.030%	$901K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	233.42	−0.047%	$7K	$152K	10x	as long as short
Entropy io:NBIS	+0.0361%	1h	233.46	−0.030%	$10.1M	$3.3M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0436%	1h	233.39	−0.060%	$35K	$48K	10x	as long as short
edgeX NBISUSDC	+0.0636%	4h	233.36	−0.072%	$37K	$226K	10x	as long as short