Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.042%

Price spread now: Ondo Perps against Gate−0.151%7-day average −0.047% · you buy dearer than you sell

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

Long on Gate Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.024%+$2 on $10k

Price spread, last 4 days (all we have)+0.117%+$12 · spread now −0.151%, 7d avg −0.047%

Together, before fees+0.141%+ Points / potential airdropOndo Perps: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.104% cheaper against Gate than usual: you would sell low and buy high (spread −0.151% now, against its 7-day average of −0.047%). If the spread goes back, that is −$10 on $10k: about 6.9 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.024% in total) that is about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NBIS_USDT	231.41	0	get 0.0000% / 8h	34m 57s	$2.7M	$5.2M	50x
Short	Ondo Perps NBIS-USD.P	231.06	0.0050	get 0.0006% / 1h	34m 57s	$150K	$543K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Gate. 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 GatebpFee Ondo PerpsbpOrdersPrice spread, now −0.151%Rate

Funding earned: $10.58
Price spread: −0.151% → −0.047%: −$10.41
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$19.82
Costs to cover: 0.200%
Break-even: 20.1 days

Slippage unknown: Gate: live order book, 3 min ago; Ondo Perps: 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 Gate live order book, 3 min ago	2.38 bp	28.2 bp −$28	28.8 bp −$288	54.3 bp −$5,426	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Bitget NBISUSDT	−0.0444%	8h	231.37	−0.017%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.12	−0.124%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.23	−0.077%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.30	−0.049%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.30	−0.048%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.27	−0.060%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDTlong	0.0000%	8h	231.41	long leg	$2.7M	$5.2M	50x
Variational Omni NBIS	0.0000%	8h	231.17	−0.104%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	−0.052%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	−0.022%	$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	231.29	−0.052%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.34	−0.030%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDT	+0.0028%	8h	231.35	−0.026%	$203K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.12	−0.125%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.19	−0.095%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.03	−0.164%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.09	−0.138%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	231.06	−0.151%	$150K	$543K	10x
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.441%	$353K	$814K	10x	as long as short
SoDEX NBIS-USD	+0.0091%	1h	231.25	−0.069%	$102	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.00	−0.177%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.18	−0.099%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.17	−0.105%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0147%	1h	231.10	−0.134%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0171%	1h	231.06	−0.150%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.121%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	−0.049%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0368%	1h	231.17	−0.104%	$931K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0429%	1h	231.15	−0.112%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.13	−0.121%	$23K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0746%	1h	231.13	−0.121%	$34K	$49K	10x	as long as short