Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Polymarket Perps against KuCoin+0.025%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$156as in the Funding arb table

Net, price: spread back to 7d avg − costs−$148as in the Price arb table

costs, in and out, $10k−$1451.451% of the position

Long on KuCoin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 3 days (all we have)+0.078%+$8 · spread now +0.025%, 7d avg +0.054%

Together, before fees−0.034%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Polymarket Perps is 0.028% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NBISUSDTM	235.40	0.0100	pay 0.0100% / 8h	6h 59m	$485K	$22K	20x
Short	Polymarket Perps NBIS-USD	235.46	0.0050	get 0.0006% / 1h	59m 21s	$142K	$462K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$10.5
Price spread: +0.025% → +0.054%: −$2.81
Slippage, 4 orders: −$125.14
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$158.45
Costs to cover: 1.451%
Break-even: never at this rate

Slippage from KuCoin: live order book, 53 min ago; Polymarket Perps: live order book, 8 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 KuCoin live order book, 53 min ago	27.78 bp	67.7 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 8 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	235.48	+0.034%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.52	+0.051%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.47	+0.030%	$2.8M	$4.9M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.35	−0.021%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.33	−0.030%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.61	+0.089%	$15K	$66K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.40	0.000%	$1.6M	$972K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.43	+0.013%	$1.5M	$4.9M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.85	+0.191%	—	$223K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.51	+0.047%	$55.1M	$23.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USDshort	+0.0050%	1h	235.46	+0.025%	$142K	$462K	10x
SoDEX NBIS-USD	+0.0050%	1h	235.36	−0.017%	$94	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.44	+0.017%	$174K	$502K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0095%	1h	235.31	−0.039%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTMlong	+0.0100%	8h	235.40	long leg	$485K	$22K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.50	+0.042%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.40	+0.001%	—	—	10x	as long as short
Bitget NBISUSDT	+0.0106%	8h	235.50	+0.042%	$2.5M	$4.6M	20x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+0.276%	$386K	$736K	10x	as long as short
Nado NBIS-PERP	+0.0134%	1h	235.47	+0.029%	$31K	$66K	3x	as long as short
BloFin NBIS-USDT	+0.0261%	8h	235.62	+0.093%	$207K	$211K	20x	as long as short
Variational Omni NBIS	+0.0263%	8h	235.53	+0.055%	$2.9M	$591K	—	as long as short
Aster NBISUSDT	+0.0263%	8h	235.79	+0.167%	$82K	$308K	50x	as long as short
Binance NBISUSDT	+0.0287%	8h	235.52	+0.052%	$19.6M	$85.3M	25x	as long as short
Lighter NBIS	+0.0288%	1h	235.67	+0.115%	$920K	$4.4M	10x	as long as short
Extended NBIS-USD	+0.0288%	1h	235.41	+0.006%	$151K	$705K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0361%	8h	235.62	+0.094%	$5K	$131K	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.58	+0.076%	$44K	$133K	5x	as long as short
Entropy io:NBIS	+0.0388%	1h	235.61	+0.089%	$10.3M	$3.4M	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.61	+0.089%	$7K	$149K	10x	as long as short
edgeX NBISUSDC	+0.0981%	4h	235.58	+0.076%	$38K	$227K	10x	as long as short