Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0618%/8h= −67.7% APRpaid last 24h −0.116%

Price spread now: Extended against edgeX−0.126%93s7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$600.599% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.676%−$68 on $10k

Price spread, last 3 days (all we have)0.000%$0 · spread now −0.126%, 7d avg −0.035%

Together, before fees−0.676%+ Points / potential airdropedgeX: Active · Extended: Active · farm board−$68 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Extended is 0.091% cheaper against edgeX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.035%). Swap the legs. The two prices were read 93 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	edgeX NBISUSDC	235.04	0.0874	pay 0.0437% / 4h	14m 04s	$38K	$236K	10x
Short	Extended NBIS-USD	234.75	0.0256	get 0.0032% / 1h	14m 04s	$139K	$703K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against edgeX. 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 edgeXbpFee ExtendedbpOrdersPrice spread, now −0.126%Rate

Funding earned: −$129.85
Price spread: −0.126% → −0.035%: −$9.09
Slippage, 4 orders: −$45.9
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$198.84
Costs to cover: 0.599%
Break-even: never at this rate

Slippage from edgeX: live order book, 63 min ago; Extended: live order book, 64 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 edgeX live order book, 63 min ago	5.56 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 64 min ago	1.93 bp	12.3 bp −$12	109.7 bp −$1,097	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
Bybit NBISUSDT	0.0000%	8h	234.78	−0.111%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.80	−0.102%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.86	−0.077%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.77	−0.115%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.04	0.000%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.77	−0.115%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	234.81	−0.098%	$360K	$679K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.07	+0.012%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.88	−0.068%	$1.6M	$976K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.12	+0.034%	—	$234K	5x	as long as short

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	234.95	−0.039%	$142K	$738K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.88	−0.068%	$28	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.84	−0.085%	$1.5M	$5.2M	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0061%	1h	234.98	−0.026%	$174K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.73	−0.132%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.90	−0.060%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.93	−0.047%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0197%	1h	234.88	−0.067%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	235.11	+0.028%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0235%	8h	235.11	+0.031%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0247%	8h	234.93	−0.047%	$206K	$214K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.60	−0.187%	$24K	$15K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0249%	8h	235.06	+0.007%	$5K	$138K	10x	as long as short
Binance NBISUSDT	+0.0253%	8h	234.79	−0.109%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USDshort	+0.0256%	1h	234.75	−0.126%	$139K	$703K	10x
Arcus NBIS-USD	+0.0269%	1h	234.94	−0.043%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0304%	1h	234.86	−0.077%	$54.8M	$23.4M	10x	as long as short
Lighter NBIS	+0.0368%	1h	234.97	−0.030%	$930K	$4.6M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.07	+0.012%	$7K	$163K	10x	as long as short
Entropy io:NBIS	+0.0490%	1h	234.93	−0.047%	$10.3M	$3.4M	10x	as long as short
edgeX NBISUSDClong	+0.0874%	4h	235.04	long leg	$38K	$236K	10x