Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0284%/8h= −31.1% APRpaid last 24h −0.048%

Price spread now: Orderly against Lighter+0.047%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Orderly is 0.047% dearer against Lighter than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	232.29	0.0384	pay 0.0048% / 1h	3m 42s	$942K	$4.1M	10x
Short	Orderly PERP_NBIS_USDC_mythos	232.40	0.0100	get 0.0100% / 8h	6h 03m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Lighter. 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 LighterbpFee OrderlybpOrdersPrice spread, now +0.047%Rate

Funding earned: −$59.64
Price spread: +0.047% → 0.000%: $4.74
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$60.9
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 7 min ago; Orderly: 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 Lighter live order book, 7 min ago	0.43 bp	1.0 bp −$1	2.8 bp −$28	51.7 bp −$5,165	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	232.25	−0.017%	$3.3M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.23	−0.026%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	232.24	−0.022%	$2.3M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.51	+0.095%	$984	$1.5M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.36	+0.030%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.38	+0.039%	$1.6M	$969K	10x	as long as short
Variational Omni NBIS	+0.0024%	8h	232.60	+0.134%	$2.9M	$636K	—	as long as short
Bybit NBISUSDT	+0.0039%	8h	232.28	−0.004%	$5.0M	$6.8M	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	232.64	+0.151%	—	$250K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	232.48	+0.082%	$139K	$472K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.86	−0.185%	$153K	$522K	10x	as long as short
QFEX NBIS-USD	+0.0054%	1h	232.13	−0.069%	$1.6M	$3.7M	10x	as long as short
Aster NBISUSDT	+0.0063%	8h	232.01	−0.122%	$74K	$312K	50x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	231.78	−0.220%	$382K	$877K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0094%	1h	232.37	+0.034%	$34K	$49K	10x	as long as short
Extended NBIS-USD	+0.0096%	1h	232.12	−0.075%	$146K	$844K	10x	as long as short
Binance NBISUSDT	+0.0097%	8h	232.19	−0.043%	$19.7M	$90.7M	25x	as long as short
BloFin NBIS-USDT	+0.0099%	8h	232.50	+0.090%	$158K	$217K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.09	−0.086%	$471K	$163K	20x	as long as short
Orderly PERP_NBIS_USDC_mythosshort	+0.0100%	8h	232.40	+0.047%	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	232.31	+0.010%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0133%	1h	232.39	+0.042%	$38K	$86K	3x	as long as short
SoDEX NBIS-USD	+0.0150%	1h	232.50	+0.090%	$65	$19K	10x	as long as short
Arcus NBIS-USD	+0.0257%	1h	232.23	−0.026%	$42K	$121K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0285%	1h	232.20	−0.039%	$54.6M	$19.2M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0318%	8h	232.34	+0.020%	$4K	$103K	10x	as long as short
Phoenix NBIS	+0.0347%	1h	232.07	−0.095%	$7K	$127K	10x	as long as short
Lighter NBISlong	+0.0384%	1h	232.29	long leg	$942K	$4.1M	10x
edgeX NBISUSDC	+0.0587%	4h	232.09	−0.087%	$37K	$227K	10x	as long as short
Entropy io:NBIS	+0.0664%	1h	232.18	−0.047%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0764%	1h	232.39	+0.044%	$22K	$11K	20x	as long as short