Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h −0.076%

Price spread now: Lighter against edgeX−0.003%7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.338%−$34 on $10k

Price spread, last 4 days (all we have)−0.470%−$47 · spread now −0.003%, 7d avg +0.057%

Together, before fees−0.808%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$81 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.060% cheaper against edgeX than usual: you would sell low and buy high (spread −0.003% now, against its 7-day average of +0.057%). If the spread goes back, that is −$6 on $10k: about 10 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.338%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NBISUSDC	231.30	0.0332	pay 0.0166% / 4h	33m 15s	$37K	$227K	10x
Short	Lighter NBIS	231.29	0.0352	get 0.0044% / 1h	33m 15s	$933K	$4.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.003%Rate

Funding earned: $4.16
Price spread: −0.003% → +0.057%: −$5.98
Slippage, 4 orders: −$26.92
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$37.75
Costs to cover: 0.359%
Break-even: 70.6 days

Slippage from edgeX: live order book, 4 min ago; Lighter: live order book, 4 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, 4 min ago	6.05 bp	17.3 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.65 bp	1.9 bp −$2	3.7 bp −$37	66.4 bp −$6,643	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	−0.0432%	8h	231.38	+0.036%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.38	+0.038%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.39	+0.042%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.37	+0.032%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.35	+0.023%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.26	−0.016%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.37	+0.032%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.055%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.32	+0.010%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	+0.028%	$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
HTX NBIS-USDT	0.0000%	8h	231.45	+0.066%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.36	+0.028%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDT	+0.0011%	8h	231.41	+0.049%	$204K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.16	−0.059%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.49	+0.084%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.30	+0.002%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.36	+0.028%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.06	−0.102%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.392%	$353K	$805K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.18	−0.050%	$477K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.43	+0.058%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.32	+0.012%	—	—	10x	as long as short
SoDEX NBIS-USD	+0.0116%	1h	231.36	+0.028%	$97	$20K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0151%	1h	231.24	−0.024%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0173%	1h	231.14	−0.066%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.072%	$7K	$125K	10x	as long as short
edgeX NBISUSDClong	+0.0332%	4h	231.30	long leg	$37K	$227K	10x
Lighter NBISshort	+0.0352%	1h	231.29	−0.003%	$933K	$4.0M	10x
Entropy io:NBIS	+0.0440%	1h	231.28	−0.007%	$10.1M	$3.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0442%	1h	231.36	+0.028%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.37	+0.033%	$23K	$15K	20x	as long as short