Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.015%

Price spread now: Gate against Coinbase International+0.043%7-day average −0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$166as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1291.294% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.366%−$37 on $10k

Price spread, last 4 days (all we have)−0.143%−$14 · spread now +0.043%, 7d avg −0.069%

Together, before fees−0.509%−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.112% dearer against Coinbase International than usual: you sell high and buy low (spread +0.043% now, against its 7-day average of −0.069%): +$11 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	230.50	0.0120	pay 0.0015% / 1h	42m 03s	$350K	$812K	10x
Short	Gate NBIS_USDT	230.60	0	get 0.0000% / 8h	1h 42m	$2.7M	$5.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.043%Rate

Funding earned: −$25.2
Price spread: +0.043% → −0.069%: $11.23
Slippage, 4 orders: −$104.43
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$143.39
Costs to cover: 1.294%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Gate: live order book, 1 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, 1 min ago	3.26 bp	11.5 bp −$11	21.7 bp −$217	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	3.26 bp	85.8 bp −$86	256.2 bp −$2,562	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
Bitget NBISUSDT	−0.0468%	8h	230.55	+0.022%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.57	+0.032%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.45	−0.022%	$144K	$678K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.50	0.000%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.48	−0.009%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.60	+0.043%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDTshort	0.0000%	8h	230.60	+0.043%	$2.7M	$5.1M	50x
Variational Omni NBIS	0.0000%	8h	230.87	+0.163%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.91	+0.177%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.53	+0.013%	$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
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.40	−0.043%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.86	+0.156%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.62	+0.052%	$1.6M	$963K	10x	as long as short
BloFin NBIS-USDT	+0.0001%	8h	230.38	−0.052%	$203K	$205K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.59	+0.039%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.33	−0.074%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.41	−0.039%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.40	−0.043%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.31	−0.082%	$151K	$547K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.44	−0.026%	$1.5M	$3.9M	10x	as long as short
Nado NBIS-PERP	+0.0064%	1h	230.41	−0.038%	$37K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.52	+0.009%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.56	+0.026%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.52	+0.011%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0120%	1h	230.50	long leg	$350K	$812K	10x
tradeXYZ xyz:NBIS	+0.0137%	1h	230.38	−0.052%	$54.2M	$21.0M	10x	as long as short
Lighter NBIS	+0.0192%	1h	230.63	+0.056%	$947K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.96	+0.200%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0383%	1h	230.76	+0.113%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0470%	4h	230.86	+0.157%	$37K	$228K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0686%	1h	230.49	−0.005%	$23K	$15K	20x	as long as short