Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.033%

Price spread now: Binance against Ondo Perps−0.113%7-day average +0.011% · you buy dearer than you sell

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

Long on Ondo Perps Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$2 on $10k

Price spread, last 2 days (all we have)+0.048%+$5 · spread now −0.113%, 7d avg +0.011%

Together, before fees+0.023%+ Points / potential airdropOndo Perps: Active · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.124% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.113% now, against its 7-day average of +0.011%). If the spread goes back, that is −$12 on $10k: about 2.1 days of funding at the current rate (+$6 a day).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.025% in total (about -1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NBIS-USD.P	234.98	0.0053	pay 0.0007% / 1h	13m 24s	$174K	$499K	10x
Short	Binance NBISUSDT	234.72	0.0251	get 0.0251% / 8h	13m 24s	$19.4M	$86.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee BinancebpOrdersPrice spread, now −0.113%Rate

Funding earned: $41.59
Price spread: −0.113% → +0.011%: −$12.4
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Binance: 5 bp × 2 orders: −$10
Net: $14.19
Costs to cover: 0.150%
Break-even: 4.6 days

Slippage unknown: Ondo Perps: no order-book sample; Binance: live order book, 14 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Binance live order book, 14 min ago	0.21 bp	8.6 bp −$9	23.4 bp −$234	80.0 bp −$7,996	doesn't fit

Ondo Perps: 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
Bybit NBISUSDT	0.0000%	8h	234.70	−0.119%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.71	−0.115%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.75	−0.098%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.67	−0.132%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.04	+0.026%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.77	−0.089%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	234.81	−0.072%	$360K	$679K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.07	+0.038%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.88	−0.043%	$1.6M	$976K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.01	+0.013%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	234.73	−0.106%	$142K	$738K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.88	−0.043%	$28	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.72	−0.111%	$1.5M	$5.2M	10x	as long as short
Ondo Perps NBIS-USD.Plong	+0.0053%	1h	234.98	long leg	$174K	$499K	10x
KuCoin NBISUSDTM	+0.0100%	8h	234.64	−0.145%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.90	−0.034%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.93	−0.021%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0194%	1h	234.77	−0.090%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	235.11	+0.054%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0233%	8h	235.05	+0.032%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0247%	8h	234.93	−0.021%	$206K	$214K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.60	−0.161%	$24K	$15K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0249%	8h	235.06	+0.033%	$5K	$138K	10x	as long as short
Binance NBISUSDTshort	+0.0251%	8h	234.72	−0.113%	$19.4M	$86.5M	25x
Extended NBIS-USD	+0.0256%	1h	234.73	−0.107%	$139K	$703K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.70	−0.119%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0301%	1h	234.74	−0.102%	$54.7M	$23.4M	10x	as long as short
Lighter NBIS	+0.0368%	1h	234.81	−0.072%	$928K	$4.6M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.17	+0.081%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0406%	4h	234.92	−0.025%	$38K	$236K	10x	as long as short
Entropy io:NBIS	+0.0491%	1h	234.89	−0.038%	$10.3M	$3.4M	10x	as long as short