Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against HTX−0.204%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$380.378% of the position

Long on HTX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 3 days (all we have)+0.220%+$22 · spread now −0.204%, 7d avg −0.031%

Together, before fees+0.271%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.173% cheaper against HTX than usual: you would sell low and buy high (spread −0.204% now, against its 7-day average of −0.031%). If the spread goes back, that is −$17 on $10k: about 12 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.051% in total) that is about 24 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NBIS-USDT	235.61	0	get 0.0000% / 8h	6h 57m	$15K	$66K	20x
Short	Polymarket Perps NBIS-USD	235.13	0.0050	get 0.0006% / 1h	57m 45s	$142K	$462K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against HTX. 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 HTXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.204%Rate

Funding earned: $10.5
Price spread: −0.204% → −0.031%: −$17.29
Slippage, 4 orders: −$17.78
Fee HTX: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$44.57
Costs to cover: 0.378%
Break-even: 36.7 days

Slippage from HTX: live order book, 8 min ago; Polymarket Perps: live order book, 10 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 HTX live order book, 8 min ago	2.33 bp	12.4 bp −$12	26.7 bp −$267	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 10 min ago	1.91 bp	5.9 bp −$6	6.3 bp −$63	25.4 bp −$2,544	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	234.87	−0.314%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.99	−0.263%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.00	−0.259%	$2.8M	$4.9M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.98	−0.267%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.92	−0.293%	$35K	$48K	10x	as long as short
HTX NBIS-USDTlong	0.0000%	8h	235.61	long leg	$15K	$66K	20x
Phemex NBISUSDT	0.0000%	8h	234.98	−0.267%	$1.6M	$972K	10x	as long as short
Nado NBIS-PERP	+0.0007%	1h	235.16	−0.189%	$31K	$66K	3x	as long as short
QFEX NBIS-USD	+0.0024%	1h	235.17	−0.187%	$1.5M	$4.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.33	−0.119%	$43K	$135K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	235.51	−0.042%	—	$223K	5x	as long as short
Polymarket Perps NBIS-USDshort	+0.0050%	1h	235.13	−0.204%	$142K	$462K	10x
SoDEX NBIS-USD	+0.0050%	1h	234.98	−0.267%	$99	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.07	−0.229%	$174K	$506K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0087%	1h	234.86	−0.318%	$54.9M	$23.6M	10x	as long as short
Bitget NBISUSDT	+0.0091%	8h	234.98	−0.267%	$2.5M	$4.6M	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0095%	1h	234.97	−0.270%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.91	−0.297%	$484K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.11	−0.212%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.02	−0.250%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+0.187%	$386K	$736K	10x	as long as short
Lighter NBIS	+0.0184%	1h	234.98	−0.267%	$916K	$4.4M	10x	as long as short
Aster NBISUSDT	+0.0257%	8h	235.23	−0.159%	$81K	$308K	50x	as long as short
Variational Omni NBIS	+0.0263%	8h	235.53	−0.034%	$2.9M	$591K	—	as long as short
Binance NBISUSDT	+0.0281%	8h	234.98	−0.269%	$19.5M	$85.4M	25x	as long as short
Extended NBIS-USD	+0.0288%	1h	234.88	−0.309%	$151K	$705K	10x	as long as short
Entropy io:NBIS	+0.0294%	1h	235.25	−0.153%	$10.3M	$3.4M	10x	as long as short
BloFin NBIS-USDT	+0.0310%	8h	235.50	−0.047%	$207K	$210K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0361%	8h	235.62	+0.004%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.61	0.000%	$7K	$149K	10x	as long as short
edgeX NBISUSDC	+0.0981%	4h	235.58	−0.013%	$38K	$227K	10x	as long as short