Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h −0.063%

Price spread now: QFEX against Binance+0.023%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$340.336% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.061%−$6 on $10k

Price spread, last 2 days (all we have)+0.047%+$5 · spread now +0.023%, 7d avg +0.011%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.061% in total (about -6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	234.79	0.0253	pay 0.0253% / 8h	13m 51s	$19.4M	$86.5M	25x
Short	QFEX NBIS-USD	234.84	0.0051	get 0.0006% / 1h	13m 51s	$1.5M	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$42.37
Price spread: +0.023% → +0.011%: $1.24
Slippage, 4 orders: −$13.64
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$74.77
Costs to cover: 0.336%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; QFEX: live order book, 5 min ago.

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, 14 min ago	0.21 bp	8.3 bp −$8	21.9 bp −$219	94.8 bp −$9,484	doesn't fit
Sell QFEX live order book, 5 min ago	2.34 bp	7.3 bp −$7	9.2 bp −$92	doesn't fit	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
Bybit NBISUSDT	0.0000%	8h	234.77	−0.007%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.80	+0.006%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.77	−0.007%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.74	−0.020%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.04	+0.108%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.77	−0.007%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	234.81	+0.010%	$360K	$679K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.07	+0.121%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.88	+0.040%	$1.6M	$976K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.12	+0.142%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	234.95	+0.070%	$142K	$738K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.88	+0.040%	$28	$20K	10x	as long as short
QFEX NBIS-USDshort	+0.0051%	1h	234.84	+0.023%	$1.5M	$5.2M	10x
Ondo Perps NBIS-USD.P	+0.0061%	1h	234.98	+0.083%	$174K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.69	−0.041%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.90	+0.049%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.93	+0.061%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0197%	1h	234.88	+0.042%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	235.11	+0.136%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0235%	8h	235.08	+0.124%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0247%	8h	234.93	+0.061%	$206K	$214K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.60	−0.079%	$24K	$15K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0249%	8h	235.06	+0.116%	$5K	$138K	10x	as long as short
Binance NBISUSDTlong	+0.0253%	8h	234.79	long leg	$19.4M	$86.5M	25x
Extended NBIS-USD	+0.0256%	1h	234.75	−0.017%	$139K	$703K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.94	+0.066%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0303%	1h	234.81	+0.010%	$54.8M	$23.4M	10x	as long as short
Lighter NBIS	+0.0368%	1h	234.97	+0.078%	$930K	$4.6M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.07	+0.121%	$7K	$163K	10x	as long as short
Entropy io:NBIS	+0.0491%	1h	234.89	+0.044%	$10.3M	$3.4M	10x	as long as short
edgeX NBISUSDC	+0.0874%	4h	235.04	+0.109%	$38K	$236K	10x	as long as short