Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0570%/8h= −62.4% APRpaid last 24h −0.074%

Price spread now: Bitget against Coinbase International−0.047%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$590.594% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.338%−$34 on $10k

Price spread, last 4 days (all we have)−0.095%−$10 · spread now −0.047%, 7d avg −0.093%

Together, before fees−0.433%−$43 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.046% dearer against Coinbase International than usual: you sell high and buy low (spread −0.047% now, against its 7-day average of −0.093%): +$5 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.338% in total) that is about 23 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.338% in total (about -17.6% 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	Coinbase International NBIS-PERP-INTX	232.18	0.0168	pay 0.0021% / 1h	3m 44s	$352K	$816K	10x
Short	Bitget NBISUSDT	232.07	−0.0402	pay 0.0402% / 8h	2h 03m	$2.3M	$4.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.047%Rate

Funding earned: −$119.7
Price spread: −0.047% → −0.093%: $4.59
Slippage, 4 orders: −$37.42
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$174.53
Costs to cover: 0.594%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 45 min ago; Bitget: live order book, 4 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, 45 min ago	7.11 bp	13.8 bp −$14	21.3 bp −$213	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	1.51 bp	16.9 bp −$17	32.1 bp −$321	47.5 bp −$4,750	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
Bitget NBISUSDTshort	−0.0402%	8h	232.07	−0.047%	$2.3M	$4.6M	20x
Aster NBISUSDT	0.0000%	8h	231.87	−0.135%	$85K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.94	−0.102%	$146K	$753K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.01	−0.072%	$18.6M	$87.0M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.95	−0.099%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.91	−0.116%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.02	−0.069%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	232.29	+0.049%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.27	+0.037%	$5K	$117K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.11	−0.030%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	232.23	+0.022%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.98	−0.086%	$1.6M	$958K	10x	as long as short
BloFin NBIS-USDT	+0.0027%	8h	232.16	−0.009%	$202K	$206K	20x	as long as short
QFEX NBIS-USD	+0.0029%	1h	231.99	−0.082%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.00	−0.078%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.93	−0.108%	—	$220K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.86	−0.138%	$138K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	232.29	+0.047%	$151K	$548K	10x	as long as short
Nado NBIS-PERP	+0.0053%	1h	231.83	−0.150%	$38K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.82	−0.155%	$478K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.93	−0.108%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.90	−0.123%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0118%	1h	231.89	−0.125%	$54.5M	$21.1M	10x	as long as short
SoDEX NBIS-USD	+0.0135%	1h	231.93	−0.108%	$88	$20K	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0168%	1h	232.18	long leg	$352K	$816K	10x
Kraken Futures PF_NBISUSD	+0.0222%	1h	231.90	−0.119%	$23K	$15K	20x	as long as short
Phoenix NBIS	+0.0242%	1h	232.20	+0.009%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0272%	1h	232.00	−0.078%	$938K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0399%	1h	231.96	−0.095%	$10.1M	$3.2M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0570%	1h	231.87	−0.134%	$34K	$49K	10x	as long as short
edgeX NBISUSDC	+0.0630%	4h	232.29	+0.048%	$37K	$226K	10x	as long as short