Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h +0.014%

Price spread now: Orderly against Ondo Perps−0.070%7-day average — · you buy dearer than you sell

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

Long on Ondo Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropOndo Perps: Active · farm boardneeds both histories

Funding pays, the price is against you. Orderly is 0.070% cheaper against Ondo Perps than usual: you would sell low and buy high (spread −0.070% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4.7 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NBIS-USD.P	227.85	0.0050	pay 0.0006% / 1h	34m 24s	$148K	$537K	10x
Short	Orderly PERP_NBIS_USDC_mythos	227.69	0.0100	get 0.0100% / 8h	7h 34m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Ondo Perps. 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 Ondo PerpsbpFee OrderlybpOrdersPrice spread, now −0.070%Rate

Funding earned: $10.42
Price spread: −0.070% → 0.000%: −$7.02
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$7.61
Costs to cover: 0.110%
Break-even: 12.1 days

Slippage unknown: Ondo Perps: no order-book sample; Orderly: 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Ondo Perps and Orderly: 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
Bitget NBISUSDT	−0.0266%	8h	227.70	−0.066%	$2.3M	$4.5M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	227.95	+0.044%	$353K	$801K	10x	as long as short
BloFin NBIS-USDT	−0.0007%	8h	227.74	−0.048%	$200K	$211K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	227.64	−0.092%	$80K	$313K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	227.60	−0.110%	$145K	$877K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	227.67	−0.077%	$18.5M	$88.7M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	227.57	−0.123%	$4.8M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	227.80	−0.022%	$3.2M	$15.9M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	227.46	−0.171%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	227.92	+0.030%	$2.8M	$577K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NBIS_USDT_Perp	0.0000%	8h	228.78	+0.406%	$4K	$114K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	227.93	+0.035%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	228.00	+0.066%	$13K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	227.87	+0.009%	$1.5M	$971K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	227.27	−0.255%	$41K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	227.28	−0.250%	—	$241K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	227.19	−0.290%	$135K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	227.75	−0.044%	$64	$20K	10x	as long as short
Ondo Perps NBIS-USD.Plong	+0.0050%	1h	227.85	long leg	$148K	$537K	10x
QFEX NBIS-USD	+0.0064%	1h	227.38	−0.206%	$1.5M	$3.7M	10x	as long as short
Nado NBIS-PERP	+0.0065%	1h	227.45	−0.176%	$38K	$116K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0082%	1h	227.33	−0.228%	$53.0M	$21.5M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	227.52	−0.145%	$468K	$60K	20x	as long as short
Orderly PERP_NBIS_USDC_mythosshort	+0.0100%	8h	227.69	−0.070%	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	227.60	−0.109%	—	—	10x	as long as short
Lighter NBIS	+0.0128%	1h	227.68	−0.075%	$910K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	229.09	+0.544%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0305%	1h	228.09	+0.105%	$9.9M	$3.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0321%	1h	227.63	−0.097%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0685%	1h	227.76	−0.039%	$22K	$16K	20x	as long as short
edgeX NBISUSDC	+0.0808%	4h	228.81	+0.420%	$37K	$227K	10x	as long as short