Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: Phemex against Vest−0.030%45s7-day average −0.462% · you buy dearer than you sell

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

Long on Vest Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.045%−$4 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now −0.030%, 7d avg −0.462%

Together, before fees−0.035%+ Points / potential airdropVest: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.432% dearer against Vest than usual: you sell high and buy low (spread −0.030% now, against its 7-day average of −0.462%): +$43 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 32 days. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest NBIS-USD-PERP	234.35	0.0046	pay 0.0006% / 1h	16m 23s	—	$215K	5x
Short	Phemex NBISUSDT	234.28	0	get 0.0000% / 8h	6h 16m	$1.6M	$972K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Vest. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 VestbpFee PhemexbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$9.59
Price spread: −0.030% → −0.462%: $43.2
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: $19.61
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Phemex: live order book, 2 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 Vest no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	2.56 bp	48.5 bp −$48	doesn't fit	doesn't fit	doesn't fit

Vest: 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 30 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	234.23	−0.051%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.19	−0.068%	$3.4M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.16	−0.081%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.17	−0.077%	$2.4M	$4.5M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.07	−0.118%	$5K	$128K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.28	−0.030%	$944	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.20	−0.064%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.04	−0.132%	$15K	$60K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	234.28	−0.030%	$1.6M	$972K	10x
QFEX NBIS-USD	+0.0024%	1h	234.18	−0.073%	$1.5M	$4.5M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	234.08	−0.115%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERPlong	+0.0046%	1h	234.35	long leg	—	$215K	5x
Polymarket Perps NBIS-USD	+0.0050%	1h	234.13	−0.094%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.28	−0.030%	$61	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.96	−0.166%	$164K	$498K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0063%	1h	234.13	−0.094%	$54.7M	$20.0M	10x	as long as short
Nado NBIS-PERP	+0.0067%	1h	234.17	−0.076%	$67K	$95K	3x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	234.12	−0.097%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.17	−0.077%	$483K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.17	−0.077%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.24	−0.047%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	233.89	−0.196%	$383K	$714K	10x	as long as short
Variational Omni NBIS	+0.0184%	8h	234.12	−0.097%	$2.8M	$571K	—	as long as short
Aster NBISUSDT	+0.0189%	8h	234.37	+0.009%	$81K	$314K	50x	as long as short
Binance NBISUSDT	+0.0206%	8h	234.21	−0.062%	$19.2M	$84.8M	25x	as long as short
Extended NBIS-USD	+0.0208%	1h	234.16	−0.081%	$147K	$699K	10x	as long as short
Lighter NBIS	+0.0232%	1h	234.24	−0.047%	$904K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.27	−0.034%	$7K	$152K	10x	as long as short
Entropy io:NBIS	+0.0409%	1h	234.20	−0.064%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0978%	4h	234.03	−0.137%	$38K	$227K	10x	as long as short