Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0476%/8h= −52.1% APRpaid last 24h −0.029%

Price spread now: Bitget against Deribit+0.038%7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Bitget is 0.038% dearer against Deribit than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NBIS_USDC-PERPETUAL	234.40	0.0476	pay 0.0059% / 1h	28m 20s	$35K	$48K	10x
Short	Bitget NBISUSDT	234.49	0	get 0.0000% / 8h	5h 28m	$2.4M	$4.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$99.91
Price spread: +0.038% → 0.000%: $3.84
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$115.07
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; Bitget: live order book, 5 min ago. 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 Deribit no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	1.49 bp	16.2 bp −$16	27.3 bp −$273	43.5 bp −$4,354	doesn't fit

Deribit: 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
Nado NBIS-PERP	−0.0008%	1h	234.28	−0.053%	$65K	$98K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	234.48	+0.034%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.38	−0.009%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.51	+0.047%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDTshort	0.0000%	8h	234.49	+0.038%	$2.4M	$4.4M	20x
GRVT NBIS_USDT_Perp	0.0000%	8h	234.85	+0.190%	$4K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.73	+0.141%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.72	+0.137%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.74	+0.145%	$1.6M	$963K	10x	as long as short
QFEX NBIS-USD	+0.0023%	1h	234.51	+0.047%	$1.5M	$4.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	234.53	+0.055%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.72	+0.137%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.45	+0.021%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.50	+0.043%	$38	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.70	+0.128%	$164K	$499K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0071%	1h	234.46	+0.026%	$54.9M	$19.7M	10x	as long as short
Variational Omni NBIS	+0.0095%	8h	234.77	+0.157%	$2.9M	$569K	—	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.22	−0.077%	$483K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.45	+0.021%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.41	+0.006%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.371%	$382K	$712K	10x	as long as short
BloFin NBIS-USDT	+0.0109%	8h	234.77	+0.158%	$206K	$204K	20x	as long as short
Aster NBISUSDT	+0.0122%	8h	234.57	+0.072%	$81K	$307K	50x	as long as short
Extended NBIS-USD	+0.0128%	1h	234.43	+0.014%	$146K	$702K	10x	as long as short
Binance NBISUSDT	+0.0131%	8h	234.51	+0.046%	$19.1M	$84.5M	25x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.33	−0.029%	$23K	$15K	20x	as long as short
Lighter NBIS	+0.0264%	1h	234.43	+0.013%	$903K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	234.85	+0.192%	$7K	$150K	10x	as long as short
edgeX NBISUSDC	+0.0334%	4h	234.66	+0.111%	$38K	$227K	10x	as long as short
Entropy io:NBIS	+0.0467%	1h	234.48	+0.034%	$10.2M	$3.3M	10x	as long as short
Deribit NBIS_USDC-PERPETUALlong	+0.0476%	1h	234.40	long leg	$35K	$48K	10x