Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h −0.002%

Price spread now: Deribit against KuCoin+0.081%53s7-day average — · you sell dearer than you buy

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

Long on KuCoin Short on Deribit

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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Deribit is 0.081% dearer against KuCoin than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 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	KuCoin NBISUSDTM	235.34	0.0100	pay 0.0100% / 8h	4h 34m	$485K	$21K	20x
Short	Deribit NBIS_USDC-PERPETUAL	235.53	0.0260	get 0.0032% / 1h	34m 29s	$35K	$48K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.081%Rate

Funding earned: $33.55
Price spread: +0.081% → 0.000%: $8.07
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $22.62
Costs to cover: 0.190%
Break-even: 2.3 days

Slippage unknown: KuCoin: live order book, 48 min ago; Deribit: 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 KuCoin live order book, 48 min ago	21.76 bp	121.7 bp −$122	doesn't fit	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Nado NBIS-PERP	−0.0122%	1h	235.48	+0.059%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.58	+0.102%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.47	+0.055%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.51	+0.072%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.46	+0.051%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.59	+0.106%	$5K	$119K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.57	+0.098%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.57	+0.098%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.51	+0.072%	$1.6M	$957K	10x	as long as short
Variational Omni NBIS	+0.0027%	8h	235.51	+0.072%	$2.9M	$563K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0038%	1h	235.44	+0.042%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.38	+0.017%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.73	+0.166%	—	$216K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.39	+0.021%	$54.9M	$19.8M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.39	+0.021%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.48	+0.059%	$14	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.53	+0.081%	$161K	$504K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.35	+0.004%	$389K	$724K	10x	as long as short
Aster NBISUSDT	+0.0071%	8h	235.48	+0.061%	$79K	$310K	50x	as long as short
Binance NBISUSDT	+0.0074%	8h	235.53	+0.080%	$19.4M	$84.6M	25x	as long as short
Extended NBIS-USD	+0.0080%	1h	235.47	+0.054%	$147K	$702K	10x	as long as short
BloFin NBIS-USDT	+0.0081%	8h	235.48	+0.059%	$207K	$205K	20x	as long as short
KuCoin NBISUSDTMlong	+0.0100%	8h	235.34	long leg	$485K	$21K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.49	+0.064%	$2K	$3K	10x	as long as short
Lighter NBIS	+0.0104%	1h	235.55	+0.089%	$899K	$4.0M	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.46	+0.051%	—	—	10x	as long as short
Deribit NBIS_USDC-PERPETUALshort	+0.0260%	1h	235.53	+0.081%	$35K	$48K	10x
Phoenix NBIS	+0.0272%	1h	235.54	+0.085%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0407%	1h	235.50	+0.068%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.32	−0.007%	$24K	$15K	20x	as long as short
edgeX NBISUSDC	+0.0882%	4h	235.57	+0.099%	$38K	$226K	10x	as long as short