Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.056%

Price spread now: Nado against OKX−0.048%49s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$880.883% of the position

Long on OKX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.076%+$8 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now −0.048%, 7d avg −0.006%

Together, before fees+0.223%+ Points / potential airdropNado: Active · farm board+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.042% cheaper against OKX than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of −0.006%). If the spread goes back, that is −$4 on $10k: about 47 hours of funding at the current rate (+$2 a day). The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NBIS-USDT-SWAP	229.51	0	get 0.0000% / 8h	7h 19m	$3.2M	$16.2M	25x
Short	Nado NBIS-PERP	229.40	0.0072	get 0.0009% / 1h	19m 49s	$38K	$116K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.048%Rate

Funding earned: $15.09
Price spread: −0.048% → −0.006%: −$4.2
Slippage, 4 orders: −$71.33
Fee OKX: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$77.43
Costs to cover: 0.883%
Break-even: 42.9 days

Slippage from OKX: live order book, 4 min ago; Nado: live order book, 9 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, 4 min ago	0.44 bp	13.8 bp −$14	34.7 bp −$347	doesn't fit	doesn't fit
Sell Nado live order book, 9 min ago	12.56 bp	36.8 bp −$37	141.4 bp −$1,414	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	−0.0198%	8h	229.61	+0.044%	$2.3M	$4.6M	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	−0.0055%	1h	229.36	−0.065%	$34K	$49K	10x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	226.87	−1.150%	$352K	$801K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	229.12	−0.168%	$73K	$320K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	229.52	+0.006%	$143K	$859K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	229.49	−0.009%	$18.4M	$89.7M	25x	as long as short
OKX NBIS-USDT-SWAPlong	0.0000%	8h	229.51	long leg	$3.2M	$16.2M	25x
Gate NBIS_USDT	0.0000%	8h	229.53	+0.009%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	229.38	−0.056%	$2.8M	$597K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	228.55	−0.417%	$4K	$113K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	229.36	−0.065%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	228.88	−0.274%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	229.33	−0.078%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0015%	8h	229.14	−0.161%	$202K	$213K	20x	as long as short
Bybit NBISUSDT	+0.0020%	8h	229.50	−0.004%	$4.8M	$6.8M	50x	as long as short
edgeX NBISUSDC	+0.0030%	4h	228.53	−0.426%	$37K	$227K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	229.44	−0.030%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	229.27	−0.105%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.20	−0.135%	$136K	$466K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	229.31	−0.087%	$147K	$534K	10x	as long as short
QFEX NBIS-USD	+0.0064%	1h	229.41	−0.044%	$1.5M	$3.7M	10x	as long as short
Nado NBIS-PERPshort	+0.0072%	1h	229.40	−0.048%	$38K	$116K	3x
KuCoin NBISUSDTM	+0.0100%	8h	229.19	−0.139%	$471K	$76K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	229.32	−0.083%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	229.29	−0.096%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0108%	1h	229.52	+0.004%	$53.5M	$21.6M	10x	as long as short
Lighter NBIS	+0.0120%	1h	229.51	0.000%	$901K	$4.1M	10x	as long as short
SoDEX NBIS-USD	+0.0233%	1h	229.20	−0.135%	$69	$20K	10x	as long as short
Phoenix NBIS	+0.0277%	1h	227.46	−0.893%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0311%	1h	228.92	−0.257%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0681%	1h	229.27	−0.107%	$22K	$16K	20x	as long as short