Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h +0.009%

Price spread now: QFEX against Bybit−0.051%7-day average −0.044% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.056%−$6 on $10k

Price spread, last 7 days−0.008%−$1 · spread now −0.051%, 7d avg −0.044%

Together, before fees−0.065%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.044%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NBISUSDT	233.97	0.0111	pay 0.0111% / 8h	5h 44m	$5.4M	$7.0M	50x
Short	QFEX NBIS-USD	233.85	0.0058	get 0.0007% / 1h	44m 19s	$1.6M	$3.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bybit. 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 BybitbpFee QFEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$11.19
Price spread: −0.051% → −0.044%: −$0.71
Slippage, 4 orders: −$22.92
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$55.82
Costs to cover: 0.439%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; QFEX: live order book, 7 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 Bybit live order book, 2 min ago	1.07 bp	9.3 bp −$9	79.5 bp −$795	doesn't fit	doesn't fit
Sell QFEX live order book, 7 min ago	1.92 bp	8.6 bp −$9	13.4 bp −$134	doesn't fit	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	233.66	−0.132%	$3.3M	$16.6M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.79	−0.077%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.77	−0.085%	$2.3M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.59	−0.162%	$1K	$1.4M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.57	−0.171%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.47	+0.214%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.84	−0.056%	$1.6M	$969K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.12	+0.064%	—	$250K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.37	−0.256%	$152K	$532K	10x	as long as short
QFEX NBIS-USDshort	+0.0058%	1h	233.85	−0.051%	$1.6M	$3.6M	10x

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NBISUSDTM	+0.0100%	8h	233.66	−0.132%	$474K	$185K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.83	−0.060%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.84	−0.054%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	234.06	+0.038%	$383K	$883K	10x	as long as short
Variational Omni NBIS	+0.0111%	8h	233.75	−0.096%	$2.9M	$646K	—	as long as short
Bybit NBISUSDTlong	+0.0111%	8h	233.97	long leg	$5.4M	$7.0M	50x
Polymarket Perps NBIS-USD	+0.0120%	1h	233.81	−0.068%	$133K	$476K	10x	as long as short
edgeX NBISUSDC	+0.0130%	4h	234.18	+0.090%	$31K	$234K	10x	as long as short
Aster NBISUSDT	+0.0146%	8h	234.26	+0.124%	$75K	$314K	50x	as long as short
Binance NBISUSDT	+0.0181%	8h	233.82	−0.065%	$20.6M	$91.5M	25x	as long as short
Extended NBIS-USD	+0.0184%	1h	233.72	−0.108%	$149K	$842K	10x	as long as short
BloFin NBIS-USDT	+0.0197%	8h	233.87	−0.043%	$207K	$217K	20x	as long as short
Nado NBIS-PERP	+0.0239%	1h	233.76	−0.089%	$38K	$85K	3x	as long as short
Kraken Futures PF_NBISUSD	+0.0370%	1h	233.49	−0.206%	$22K	$11K	20x	as long as short
Phoenix NBIS	+0.0377%	1h	233.68	−0.124%	$7K	$127K	10x	as long as short
Lighter NBIS	+0.0392%	1h	233.88	−0.038%	$945K	$3.8M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0394%	1h	233.90	−0.030%	$55.3M	$19.2M	10x	as long as short
Arcus NBIS-USD	+0.0413%	1h	233.79	−0.077%	$42K	$119K	5x	as long as short
SoDEX NBIS-USD	+0.0495%	1h	233.85	−0.051%	$84	$19K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0560%	8h	234.24	+0.116%	$4K	$101K	10x	as long as short
Entropy io:NBIS	+0.0773%	1h	233.90	−0.030%	$10.2M	$3.0M	10x	as long as short