NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0334%/8h= −36.6% APRnext payment −$0.42 per $10,000 · paid last 24h −0.060%

Price spread now: Polymarket Perps against Lighter+0.051%7-day average −0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.466%−$47 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.051%, 7d avg −0.066%

Together, before fees−0.505%+ Points / potential airdropLighter: Season 3 · farm board−$50 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.117% dearer against Lighter than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.066%): +$12 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	233.35	0.0384	pay 0.0048% / 1h	54m 49s	$946K	$3.7M	10x
Short	Polymarket Perps NBIS-USD	233.47	0.0050	get 0.0006% / 1h	54m 49s	$129K	$478K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$70.14
Price spread: +0.051% → −0.066%: $11.71
Slippage, 4 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$74.43
Costs to cover: 0.160%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Polymarket Perps: live order book, 51 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 Lighter live order book, 6 min ago	1.07 bp	1.1 bp −$1	2.2 bp −$22	46.4 bp −$4,642	doesn't fit
Sell Polymarket Perps live order book, 51 min ago	1.92 bp	5.9 bp −$6	8.1 bp −$81	doesn't fit	doesn't fit

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	233.18	−0.073%	$3.3M	$16.3M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.26	−0.039%	$2.7M	$4.8M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.20	−0.064%	$2.3M	$4.4M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.58	+0.099%	$958	$1.4M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.31	−0.017%	$35K	$48K	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.34	−0.004%	$1.6M	$968K	10x	as long as short
HTX NBIS-USDT	+0.0004%	8h	233.85	+0.214%	$13K	$61K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0039%	1h	233.42	+0.030%	$22K	$10K	20x	as long as short
Polymarket Perps NBIS-USDshort	+0.0050%	1h	233.47	+0.051%	$129K	$478K	10x
SoDEX NBIS-USD	+0.0050%	1h	233.37	+0.009%	$1K	$20K	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	233.56	+0.090%	$151K	$523K	10x	as long as short
Vest NBIS-USD-PERP	+0.0052%	1h	233.70	+0.150%	—	$250K	5x	as long as short
QFEX NBIS-USD	+0.0053%	1h	233.37	+0.009%	$1.6M	$3.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.27	−0.034%	$474K	$241K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.54	+0.081%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.50	+0.064%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0154%	1h	233.21	−0.059%	$38K	$79K	3x	as long as short
edgeX NBISUSDC	+0.0171%	4h	233.78	+0.183%	$31K	$233K	10x	as long as short
Variational Omni NBIS	+0.0211%	8h	233.52	+0.074%	$2.9M	$629K	—	as long as short
Coinbase International NBIS-PERP-INTX	+0.0224%	1h	234.06	+0.304%	$383K	$862K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0230%	1h	233.20	−0.064%	$55.5M	$18.6M	10x	as long as short
Bybit NBISUSDT	+0.0237%	8h	233.25	−0.043%	$5.4M	$6.9M	50x	as long as short
Aster NBISUSDT	+0.0238%	8h	233.90	+0.236%	$81K	$314K	50x	as long as short
Extended NBIS-USD	+0.0272%	1h	233.29	−0.026%	$146K	$1.0M	10x	as long as short
BloFin NBIS-USDT	+0.0273%	8h	233.33	−0.009%	$208K	$216K	20x	as long as short
Binance NBISUSDT	+0.0274%	8h	233.36	+0.005%	$20.6M	$90.3M	25x	as long as short
Phoenix NBIS	+0.0377%	1h	233.79	+0.189%	$7K	$117K	10x	as long as short
Lighter NBISlong	+0.0384%	1h	233.35	long leg	$946K	$3.7M	10x
GRVT NBIS_USDT_Perp	+0.0554%	8h	233.93	+0.249%	$5K	$102K	10x	as long as short
Entropy io:NBIS	+0.0649%	1h	233.71	+0.154%	$10.2M	$2.9M	10x	as long as short
Arcus NBIS-USD	+0.0870%	1h	233.56	+0.090%	$42K	$117K	5x	as long as short