Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.053%

Price spread now: Gate against Kraken Futures+0.087%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Gate

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

The price spread pays, funding is against you. Gate is 0.087% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.087% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NBISUSD	233.48	0.0096	pay 0.0012% / 1h	33m 56s	$24K	$15K	20x
Short	Gate NBIS_USDT	233.68	0	get 0.0000% / 8h	6h 33m	$2.8M	$5.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now +0.087%Rate

Funding earned: −$20.12
Price spread: +0.087% → 0.000%: $8.72
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$36.4
Costs to cover: 0.250%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Gate: live order book, 4 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Gate live order book, 4 min ago	3.43 bp	19.8 bp −$20	136.8 bp −$1,368	307.7 bp −$30.8K	doesn't fit

Kraken Futures: 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 30 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	233.77	+0.126%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.67	+0.083%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDTshort	0.0000%	8h	233.68	+0.087%	$2.8M	$5.0M	50x
Bitget NBISUSDT	0.0000%	8h	233.70	+0.096%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.56	+0.036%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.40	−0.033%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.71	+0.100%	$1.6M	$971K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0016%	8h	233.46	−0.005%	$5K	$129K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.58	+0.044%	$1.5M	$4.6M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.38	−0.041%	$42K	$132K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	233.68	+0.087%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.51	+0.014%	$148K	$454K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.56	+0.036%	$79	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.49	+0.006%	$163K	$499K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0093%	1h	233.60	+0.053%	$35K	$48K	10x	as long as short
Kraken Futures PF_NBISUSDlong	+0.0096%	1h	233.48	long leg	$24K	$15K	20x
KuCoin NBISUSDTM	+0.0100%	8h	233.56	+0.036%	$482K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.58	+0.044%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.59	+0.049%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0111%	1h	233.64	+0.070%	$54.7M	$20.0M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.102%	$386K	$721K	10x	as long as short
Nado NBIS-PERP	+0.0144%	1h	233.41	−0.028%	$67K	$94K	3x	as long as short
Variational Omni NBIS	+0.0207%	8h	233.54	+0.027%	$2.8M	$571K	—	as long as short
Aster NBISUSDT	+0.0210%	8h	233.79	+0.136%	$81K	$314K	50x	as long as short
Binance NBISUSDT	+0.0231%	8h	233.66	+0.080%	$19.2M	$85.0M	25x	as long as short
Extended NBIS-USD	+0.0232%	1h	233.58	+0.045%	$150K	$701K	10x	as long as short
Lighter NBIS	+0.0296%	1h	233.67	+0.083%	$902K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	233.42	−0.024%	$7K	$152K	10x	as long as short
Entropy io:NBIS	+0.0373%	1h	233.50	+0.010%	$10.1M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0636%	4h	233.36	−0.049%	$37K	$226K	10x	as long as short