Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0272%/8h= +29.8% APRpaid last 24h +0.016%

Price spread now: Extended against OKX+0.047%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on OKX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.047%, 7d avg −0.031%

Together, before fees−0.164%+ Points / potential airdropExtended: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Extended is 0.078% dearer against OKX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.031%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% in total (about 0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NBIS-USDT-SWAP	233.18	0	get 0.0000% / 8h	4h 54m	$3.3M	$16.3M	25x
Short	Extended NBIS-USD	233.29	0.0272	get 0.0034% / 1h	54m 51s	$146K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against OKX. 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 OKXbpFee ExtendedbpOrdersPrice spread, now +0.047%Rate

Funding earned: $57.12
Price spread: +0.047% → −0.031%: $7.82
Slippage, 4 orders: −$28.91
Fee OKX: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $21.03
Costs to cover: 0.439%
Break-even: 4.4 days

Slippage from OKX: live order book, 2 min ago; Extended: 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 OKX live order book, 2 min ago	1.07 bp	9.4 bp −$9	31.7 bp −$317	doesn't fit	doesn't fit
Sell Extended live order book, 51 min ago	2.57 bp	12.3 bp −$12	110.1 bp −$1,101	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-SWAPlong	0.0000%	8h	233.18	long leg	$3.3M	$16.3M	25x
Gate NBIS_USDT	0.0000%	8h	233.26	+0.034%	$2.7M	$4.8M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.20	+0.009%	$2.3M	$4.4M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.58	+0.172%	$958	$1.4M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.31	+0.056%	$35K	$48K	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.34	+0.069%	$1.6M	$968K	10x	as long as short
HTX NBIS-USDT	+0.0004%	8h	233.85	+0.287%	$13K	$61K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0039%	1h	233.42	+0.103%	$22K	$10K	20x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.47	+0.124%	$129K	$478K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.37	+0.081%	$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	+0.163%	$151K	$523K	10x	as long as short
Vest NBIS-USD-PERP	+0.0052%	1h	233.70	+0.223%	—	$250K	5x	as long as short
QFEX NBIS-USD	+0.0053%	1h	233.37	+0.081%	$1.6M	$3.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.27	+0.039%	$474K	$241K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.54	+0.154%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.50	+0.137%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0154%	1h	233.21	+0.014%	$38K	$79K	3x	as long as short
edgeX NBISUSDC	+0.0171%	4h	233.78	+0.256%	$31K	$233K	10x	as long as short
Variational Omni NBIS	+0.0211%	8h	233.52	+0.147%	$2.9M	$629K	—	as long as short
Coinbase International NBIS-PERP-INTX	+0.0224%	1h	234.06	+0.377%	$383K	$862K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0230%	1h	233.20	+0.009%	$55.5M	$18.6M	10x	as long as short
Bybit NBISUSDT	+0.0237%	8h	233.25	+0.030%	$5.4M	$6.9M	50x	as long as short
Aster NBISUSDT	+0.0238%	8h	233.90	+0.309%	$81K	$314K	50x	as long as short
Extended NBIS-USDshort	+0.0272%	1h	233.29	+0.047%	$146K	$1.0M	10x
BloFin NBIS-USDT	+0.0273%	8h	233.33	+0.064%	$208K	$216K	20x	as long as short
Binance NBISUSDT	+0.0274%	8h	233.36	+0.078%	$20.6M	$90.3M	25x	as long as short
Phoenix NBIS	+0.0377%	1h	233.79	+0.262%	$7K	$117K	10x	as long as short
Lighter NBIS	+0.0384%	1h	233.35	+0.073%	$946K	$3.7M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0554%	8h	233.93	+0.322%	$5K	$102K	10x	as long as short
Entropy io:NBIS	+0.0649%	1h	233.71	+0.227%	$10.2M	$2.9M	10x	as long as short
Arcus NBIS-USD	+0.0870%	1h	233.56	+0.163%	$42K	$117K	5x	as long as short