Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h +0.076%

Price spread now: Lighter against Variational Omni+0.038%7-day average +0.006% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.096%+$10 on $10k

Price spread, last 7 days−0.013%−$1 · spread now +0.038%, 7d avg +0.006%

Together, before fees+0.083%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.032% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	235.42	0.0005	pay 0.0005% / 8h	4h 21m	$2.9M	$562K	—
Short	Lighter NBIS	235.51	0.0088	get 0.0011% / 1h	21m 41s	$903K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.038%Rate

Funding earned: $17.45
Price spread: +0.038% → +0.006%: $3.16
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $20.6
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter: live order book, 6 min ago. 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 Variational Omni RFQ quote, 2 min ago	3.21 bp	doesn't fit	39.9 bp −$399	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.85 bp	0.8 bp −$1	3.7 bp −$37	74.3 bp −$7,427	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
Nado NBIS-PERP	−0.0107%	1h	235.36	−0.026%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.56	+0.059%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.47	+0.021%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.52	+0.042%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.51	+0.038%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.61	+0.080%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.56	+0.059%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.51	+0.038%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.56	+0.059%	$1.6M	$956K	10x	as long as short
Variational Omni NBISlong	+0.0005%	8h	235.42	long leg	$2.9M	$562K	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin NBIS-USDT	+0.0038%	8h	235.40	−0.009%	$208K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.50	+0.033%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.30	−0.052%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.74	+0.135%	—	$216K	5x	as long as short
Aster NBISUSDT	+0.0047%	8h	235.44	+0.006%	$79K	$310K	50x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.38	−0.018%	$54.9M	$19.8M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.43	+0.004%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.49	+0.029%	$28	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.54	+0.050%	$161K	$503K	10x	as long as short
Binance NBISUSDT	+0.0051%	8h	235.53	+0.045%	$19.4M	$84.6M	25x	as long as short
Extended NBIS-USD	+0.0056%	1h	235.48	+0.024%	$150K	$701K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.35	−0.030%	$389K	$723K	10x	as long as short
Lighter NBISshort	+0.0088%	1h	235.51	+0.038%	$903K	$4.1M	10x
KuCoin NBISUSDTM	+0.0100%	8h	235.28	−0.060%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.54	+0.050%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.53	+0.045%	—	—	10x	as long as short
edgeX NBISUSDC	+0.0162%	4h	235.39	−0.013%	$38K	$226K	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.56	+0.059%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0397%	1h	235.43	+0.004%	$10.2M	$3.2M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0430%	1h	235.48	+0.025%	$35K	$48K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0476%	1h	235.58	+0.068%	$24K	$15K	20x	as long as short