Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h +0.082%

Price spread now: Kraken Futures against Binance−0.035%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Kraken Futures is 0.035% cheaper against Binance than usual: you would sell low and buy high (−$3 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	Binance NBISUSDT	233.41	0.0235	pay 0.0235% / 8h	6h 37m	$19.2M	$85.1M	25x
Short	Kraken Futures PF_NBISUSD	233.33	0.0096	get 0.0012% / 1h	37m 44s	$24K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$29.23
Price spread: −0.035% → 0.000%: −$3.49
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$52.71
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 5 min ago; Kraken Futures: 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 Binance live order book, 5 min ago	0.21 bp	8.2 bp −$8	23.6 bp −$236	86.6 bp −$8,660	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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	233.46	+0.022%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.57	+0.069%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.42	+0.005%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.45	+0.018%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.36	−0.021%	$996	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.29	−0.051%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.78	+0.159%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.41	+0.001%	$1.6M	$971K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.31	−0.042%	$1.5M	$4.7M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0036%	8h	233.58	+0.074%	$5K	$129K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	233.36	−0.021%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.40	−0.004%	—	$226K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.28	−0.055%	$148K	$468K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.36	−0.021%	$93	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.31	−0.042%	$163K	$499K	10x	as long as short
Kraken Futures PF_NBISUSDshort	+0.0096%	1h	233.33	−0.035%	$24K	$15K	20x
KuCoin NBISUSDTM	+0.0100%	8h	233.38	−0.012%	$481K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.37	−0.016%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.37	−0.015%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0109%	1h	233.33	−0.034%	$54.7M	$20.0M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.132%	$386K	$721K	10x	as long as short
Nado NBIS-PERP	+0.0149%	1h	233.33	−0.032%	$67K	$94K	3x	as long as short
Aster NBISUSDT	+0.0216%	8h	233.61	+0.086%	$81K	$314K	50x	as long as short
Variational Omni NBIS	+0.0223%	8h	233.46	+0.022%	$2.8M	$570K	—	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.271%	$207K	$209K	20x	as long as short
Binance NBISUSDTlong	+0.0235%	8h	233.41	long leg	$19.2M	$85.1M	25x
Extended NBIS-USD	+0.0240%	1h	233.38	−0.013%	$150K	$705K	10x	as long as short
Lighter NBIS	+0.0280%	1h	233.45	+0.018%	$901K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	233.43	+0.009%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0339%	4h	233.68	+0.116%	$38K	$225K	10x	as long as short
Entropy io:NBIS	+0.0352%	1h	233.50	+0.039%	$10.1M	$3.3M	10x	as long as short