Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h −0.046%

Price spread now: Binance against Coinbase International−0.611%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.372%−$37 on $10k

Price spread, last 4 days (all we have)+0.261%+$26 · spread now −0.611%, 7d avg −0.119%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.492% cheaper against Coinbase International than usual: you would sell low and buy high (−$49 if the spread goes back to its 7-day average of −0.119%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	235.56	0.0104	pay 0.0013% / 1h	43m 59s	$389K	$724K	10x
Short	Binance NBISUSDT	234.12	0.0002	get 0.0002% / 8h	3h 43m	$19.3M	$84.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.611%Rate

Funding earned: −$21.45
Price spread: −0.611% → −0.119%: −$49.23
Slippage, 4 orders: −$13.66
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$104.33
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 9 min ago; Binance: live order book, 14 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 Coinbase International live order book, 9 min ago	2.99 bp	8.9 bp −$9	16.6 bp −$166	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.21 bp	7.8 bp −$8	21.3 bp −$213	83.4 bp −$8,339	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
BloFin NBIS-USDT	−0.0011%	8h	234.47	−0.463%	$207K	$206K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	234.59	−0.414%	$79K	$310K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	234.18	−0.588%	$147K	$699K	10x	as long as short
Bybit NBISUSDT	0.0000%	8h	234.09	−0.624%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.07	−0.633%	$3.4M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.23	−0.565%	$2.7M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.31	−0.531%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	234.44	−0.476%	$2.9M	$557K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	233.86	−0.722%	$4K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.45	−0.471%	$832	$1.7M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.28	−0.543%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.45	−0.471%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.40	−0.492%	$1.6M	$954K	10x	as long as short
Binance NBISUSDTshort	+0.0002%	8h	234.12	−0.611%	$19.3M	$84.6M	25x
QFEX NBIS-USD	+0.0034%	1h	234.37	−0.505%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	234.17	−0.590%	$42K	$132K	5x	as long as short
Nado NBIS-PERP	+0.0044%	1h	234.37	−0.507%	$38K	$115K	3x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.55	−0.429%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0048%	1h	234.22	−0.569%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	234.26	−0.552%	$54.6M	$20.0M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.26	−0.552%	$147K	$456K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.33	−0.522%	$70	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.36	−0.509%	$160K	$502K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.19	−0.582%	$482K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.37	−0.505%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.31	−0.529%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0104%	1h	235.56	long leg	$389K	$724K	10x
Lighter NBIS	+0.0232%	1h	234.43	−0.480%	$915K	$3.9M	10x	as long as short
Phoenix NBIS	+0.0239%	1h	234.36	−0.509%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0323%	1h	234.31	−0.531%	$10.2M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0720%	4h	234.32	−0.524%	$38K	$227K	10x	as long as short