Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0344%/8h= −37.7% APRpaid last 24h −0.087%

Price spread now: SunX against Lighter+0.082%7-day average −0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$186as in the Funding arb table

Net, price: spread back to 7d avg − costs−$117as in the Price arb table

costs, in and out, $10k−$1311.309% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.548%−$55 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now +0.082%, 7d avg −0.057%

Together, before fees−0.719%+ Points / potential airdropLighter: Season 3 · farm board−$72 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.139% dearer against Lighter than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of −0.057%): +$14 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	231.30	0.0344	pay 0.0043% / 1h	32m 17s	$933K	$4.0M	10x
Short	SunX NBIS-USDT	231.49	0	get 0.0000% / 8h	32m 17s	$1K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$72.24
Price spread: +0.082% → −0.057%: $13.89
Slippage, 4 orders: −$122.88
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$189.23
Costs to cover: 1.309%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; SunX: live order book, 3 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, 5 min ago	0.65 bp	0.8 bp −$1	2.6 bp −$26	54.2 bp −$5,424	doesn't fit
Sell SunX live order book, 3 min ago	45.17 bp	64.3 bp −$64	doesn't fit	doesn't fit	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
Bitget NBISUSDT	−0.0426%	8h	231.39	+0.039%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.31	+0.003%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.29	−0.005%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.35	+0.023%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.35	+0.022%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.33	+0.013%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.37	+0.030%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.056%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.32	+0.009%	$4K	$116K	10x	as long as short
SunX NBIS-USDTshort	0.0000%	8h	231.49	+0.082%	$1K	$1.6M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.45	+0.065%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.35	+0.022%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDT	+0.0011%	8h	231.41	+0.048%	$204K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.19	−0.048%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.49	+0.082%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.28	−0.009%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.29	−0.004%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.25	−0.022%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.393%	$353K	$805K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.21	−0.039%	$477K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.33	+0.013%	$2K	$3K	10x	as long as short
SoDEX NBIS-USD	+0.0103%	1h	231.30	0.000%	$102	$20K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.29	−0.005%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0148%	1h	231.20	−0.043%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0171%	1h	231.22	−0.034%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.073%	$7K	$125K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0312%	1h	231.28	−0.009%	$34K	$49K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	−0.002%	$37K	$227K	10x	as long as short
Lighter NBISlong	+0.0344%	1h	231.30	long leg	$933K	$4.0M	10x
Entropy io:NBIS	+0.0440%	1h	231.25	−0.022%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.24	−0.028%	$23K	$15K	20x	as long as short