Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0262%/8h= +28.7% APRpaid last 24h +0.012%

Price spread now: BloFin against Deribit+0.319%117s7-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 BloFin

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

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and BloFin is 0.319% dearer against Deribit than usual: you sell high and buy low: +$32 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 117 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NBIS_USDC-PERPETUAL	234.75	0.0048	pay 0.0006% / 1h	57m 21s	$35K	$48K	10x
Short	BloFin NBIS-USDT	235.50	0.0310	get 0.0310% / 8h	6h 57m	$207K	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.319%Rate

Funding earned: $55.04
Price spread: +0.319% → 0.000%: $31.95
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $67.99
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Deribit: no order-book sample; BloFin: live order book, 3 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 BloFin live order book, 3 min ago	0.64 bp	7.8 bp −$8	13.4 bp −$134	doesn't fit	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
Bybit NBISUSDT	0.0000%	8h	234.77	+0.009%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.87	+0.051%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.86	+0.047%	$2.8M	$4.9M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.84	+0.038%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.61	+0.366%	$15K	$66K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.86	+0.047%	$1.6M	$972K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	234.74	−0.004%	$1.5M	$4.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.33	+0.247%	$43K	$135K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.16	+0.175%	—	$223K	5x	as long as short
Deribit NBIS_USDC-PERPETUALlong	+0.0048%	1h	234.75	long leg	$35K	$48K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	234.82	+0.030%	$142K	$462K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.84	+0.038%	$89	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.07	+0.136%	$174K	$506K	10x	as long as short
Nado NBIS-PERP	+0.0051%	1h	234.78	+0.013%	$31K	$66K	3x	as long as short
Bitget NBISUSDT	+0.0091%	8h	234.90	+0.064%	$2.5M	$4.6M	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0095%	1h	234.66	−0.038%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.86	+0.047%	$484K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.88	+0.055%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.86	+0.049%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+0.554%	$386K	$736K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0124%	1h	234.79	+0.017%	$54.9M	$23.7M	10x	as long as short
Lighter NBIS	+0.0184%	1h	234.98	+0.098%	$916K	$4.4M	10x	as long as short
Aster NBISUSDT	+0.0257%	8h	235.16	+0.175%	$81K	$308K	50x	as long as short
Variational Omni NBIS	+0.0263%	8h	235.53	+0.332%	$2.9M	$591K	—	as long as short
Extended NBIS-USD	+0.0280%	1h	234.80	+0.023%	$151K	$705K	10x	as long as short
Binance NBISUSDT	+0.0281%	8h	234.87	+0.051%	$19.5M	$85.4M	25x	as long as short
Entropy io:NBIS	+0.0294%	1h	235.25	+0.213%	$10.3M	$3.4M	10x	as long as short
BloFin NBIS-USDTshort	+0.0310%	8h	235.50	+0.319%	$207K	$210K	20x
GRVT NBIS_USDT_Perp	+0.0325%	8h	235.40	+0.277%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.10	+0.149%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0967%	4h	235.39	+0.271%	$38K	$225K	10x	as long as short