Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0179%/8h= −19.5% APRpaid last 24h +0.120%

Price spread now: Kraken Futures against OKX−0.067%7-day average — · you buy dearer than you sell

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

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Kraken Futures is 0.067% cheaper against OKX than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NBIS-USDT-SWAP	235.57	0	get 0.0000% / 8h	7h 00m	$3.4M	$16.7M	25x
Short	Kraken Futures PF_NBISUSD	235.41	−0.0179	pay 0.0022% / 1h	0m 08s	$24K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$37.49
Price spread: −0.067% → 0.000%: −$6.68
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$64.18
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 3 min ago; Kraken Futures: 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 OKX live order book, 3 min ago	2.55 bp	10.7 bp −$11	24.5 bp −$245	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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 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
Kraken Futures PF_NBISUSDshort	−0.0179%	1h	235.41	−0.067%	$24K	$15K	20x
Bybit NBISUSDT	0.0000%	8h	235.50	−0.030%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAPlong	0.0000%	8h	235.57	long leg	$3.4M	$16.7M	25x
Gate NBIS_USDT	0.0000%	8h	235.57	0.000%	$2.8M	$5.2M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.61	+0.017%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.48	−0.038%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.71	+0.059%	$15K	$66K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.53	−0.017%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.204%	$386K	$736K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.51	−0.025%	$1.5M	$4.9M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	235.91	+0.144%	—	$223K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.80	+0.098%	$174K	$503K	10x	as long as short
SoDEX NBIS-USD	+0.0059%	1h	235.52	−0.021%	$89	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.47	−0.042%	$486K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.57	0.000%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.56	−0.003%	—	—	10x	as long as short
Bitget NBISUSDT	+0.0108%	8h	235.55	−0.008%	$2.5M	$4.6M	20x	as long as short
Polymarket Perps NBIS-USD	+0.0126%	1h	235.52	−0.021%	$142K	$462K	10x	as long as short
Nado NBIS-PERP	+0.0136%	1h	235.53	−0.018%	$31K	$66K	3x	as long as short
BloFin NBIS-USDT	+0.0261%	8h	235.62	+0.021%	$207K	$211K	20x	as long as short
Variational Omni NBIS	+0.0263%	8h	235.53	−0.017%	$2.9M	$591K	—	as long as short
Aster NBISUSDT	+0.0263%	8h	235.74	+0.071%	$81K	$308K	50x	as long as short
tradeXYZ xyz:NBIS	+0.0271%	1h	235.54	−0.013%	$55.1M	$23.6M	10x	as long as short
Binance NBISUSDT	+0.0287%	8h	235.54	−0.012%	$19.6M	$85.3M	25x	as long as short
Lighter NBIS	+0.0288%	1h	235.63	+0.025%	$920K	$4.5M	10x	as long as short
Extended NBIS-USD	+0.0288%	1h	235.53	−0.017%	$151K	$705K	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.60	+0.013%	$44K	$133K	5x	as long as short
GRVT NBIS_USDT_Perp	+0.0375%	8h	235.73	+0.067%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.61	+0.017%	$7K	$163K	10x	as long as short
Entropy io:NBIS	+0.0865%	1h	235.59	+0.008%	$10.3M	$3.4M	10x	as long as short
edgeX NBISUSDC	+0.0981%	4h	235.58	+0.004%	$38K	$227K	10x	as long as short