Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0452%/8h= +49.5% APRpaid last 24h +0.016%

Price spread now: Ondo Perps against Bitget−0.073%7-day average −0.025% · you buy dearer than you sell

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

Long on Bitget Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.122%+$12 · spread now −0.073%, 7d avg −0.025%

Together, before fees+0.116%+ Points / potential airdropOndo Perps: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.049% cheaper against Bitget than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of −0.025%). If the spread goes back, that is −$5 on $10k: about 9 hours of funding at the current rate (+$14 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.006% in total (about -0.3% 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	Bitget NBISUSDT	231.41	−0.0402	get 0.0402% / 8h	1h 51m	$2.3M	$4.5M	20x
Short	Ondo Perps NBIS-USD.P	231.24	0.0050	get 0.0006% / 1h	51m 11s	$151K	$548K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Bitget. 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 BitgetbpFee Ondo PerpsbpOrdersPrice spread, now −0.073%Rate

Funding earned: $95
Price spread: −0.073% → −0.025%: −$4.88
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $73.12
Costs to cover: 0.170%
Break-even: 1.6 days

Slippage unknown: Bitget: live order book, 2 min ago; Ondo Perps: 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 Bitget live order book, 2 min ago	1.08 bp	19.9 bp −$20	21.6 bp −$216	43.4 bp −$4,342	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Bitget NBISUSDTlong	−0.0402%	8h	231.41	long leg	$2.3M	$4.5M	20x
BloFin NBIS-USDT	−0.0001%	8h	231.20	−0.091%	$204K	$206K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.15	−0.112%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.11	−0.131%	$145K	$736K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.26	−0.064%	$18.6M	$87.2M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.34	−0.030%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.27	−0.060%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.35	−0.026%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.22	−0.080%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.37	−0.016%	$5K	$116K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	231.18	−0.099%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.31	−0.043%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.38	−0.013%	$1.6M	$961K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.18	−0.099%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.09	−0.138%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.08	−0.143%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.18	−0.099%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	231.24	−0.073%	$151K	$548K	10x
QFEX NBIS-USD	+0.0056%	1h	231.14	−0.117%	$1.5M	$3.9M	10x	as long as short
edgeX NBISUSDC	+0.0098%	4h	231.34	−0.031%	$37K	$226K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.08	−0.143%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.16	−0.108%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.14	−0.118%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0118%	1h	231.04	−0.159%	$38K	$115K	3x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	231.07	−0.147%	$351K	$813K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0140%	1h	231.09	−0.138%	$34K	$49K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0195%	1h	231.24	−0.073%	$54.3M	$21.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.41	0.000%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0320%	1h	231.40	−0.004%	$942K	$3.9M	10x	as long as short
Entropy io:NBIS	+0.0503%	1h	231.28	−0.056%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0684%	1h	231.15	−0.113%	$23K	$15K	20x	as long as short