Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h −0.014%

Price spread now: Orderly against Deribit−0.094%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on Orderly

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

Funding pays, the price is against you. Orderly is 0.094% cheaper against Deribit than usual: you would sell low and buy high (spread −0.094% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 6.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NBIS_USDC-PERPETUAL	233.16	0.0050	pay 0.0006% / 1h	43m 09s	$36K	$50K	10x
Short	Orderly PERP_NBIS_USDC_mythos	232.94	0.0100	get 0.0100% / 8h	4h 43m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.094%Rate

Funding earned: $10.43
Price spread: −0.094% → 0.000%: −$9.44
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$12
Costs to cover: 0.130%
Break-even: 15.1 days

Slippage unknown: Deribit: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Deribit and Orderly: 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 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	233.01	−0.064%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.03	−0.056%	$2.7M	$4.8M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.10	−0.026%	$2.3M	$4.4M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.95	−0.090%	$1K	$1.4M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.71	−0.193%	$12K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.14	−0.009%	$1.6M	$968K	10x	as long as short
edgeX NBISUSDC	+0.0025%	4h	232.80	−0.153%	$31K	$235K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0039%	1h	233.10	−0.027%	$22K	$10K	20x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	232.93	−0.099%	$1K	$20K	10x	as long as short
Deribit NBIS_USDC-PERPETUALlong	+0.0050%	1h	233.16	long leg	$36K	$50K	10x

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.10	−0.026%	$151K	$520K	10x	as long as short
Vest NBIS-USD-PERP	+0.0052%	1h	233.02	−0.060%	—	$250K	5x	as long as short
QFEX NBIS-USD	+0.0053%	1h	232.90	−0.112%	$1.6M	$3.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.81	−0.150%	$472K	$253K	20x	as long as short
Orderly PERP_NBIS_USDC_mythosshort	+0.0100%	8h	232.94	−0.094%	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	232.85	−0.131%	—	—	10x	as long as short
Polymarket Perps NBIS-USD	+0.0108%	1h	232.95	−0.090%	$129K	$478K	10x	as long as short
Variational Omni NBIS	+0.0182%	8h	232.52	−0.276%	$2.9M	$623K	—	as long as short
Nado NBIS-PERP	+0.0184%	1h	232.79	−0.160%	$38K	$54K	3x	as long as short
BloFin NBIS-USDT	+0.0209%	8h	233.09	−0.030%	$208K	$216K	20x	as long as short
Aster NBISUSDT	+0.0213%	8h	233.20	+0.018%	$81K	$314K	50x	as long as short
Bybit NBISUSDT	+0.0219%	8h	233.21	+0.021%	$5.4M	$6.9M	50x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0224%	1h	234.06	+0.386%	$383K	$861K	10x	as long as short
Binance NBISUSDT	+0.0236%	8h	233.08	−0.034%	$20.6M	$90.3M	25x	as long as short
Extended NBIS-USD	+0.0240%	1h	232.96	−0.084%	$147K	$1.0M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0399%	8h	232.90	−0.110%	$5K	$101K	10x	as long as short
Lighter NBIS	+0.0400%	1h	233.22	+0.026%	$942K	$3.7M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0411%	1h	233.11	−0.021%	$55.8M	$19.0M	10x	as long as short
Phoenix NBIS	+0.0444%	1h	232.80	−0.154%	$7K	$117K	10x	as long as short
Entropy io:NBIS	+0.0694%	1h	232.89	−0.116%	$10.2M	$2.9M	10x	as long as short
Arcus NBIS-USD	+0.0870%	1h	232.89	−0.116%	$43K	$116K	5x	as long as short