Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h −0.014%

Price spread now: SoDEX against Orderly−0.052%7-day average — · you buy dearer than you sell

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

Long on Orderly Short on SoDEX

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

Funding pays, the price is against you. SoDEX is 0.052% cheaper against Orderly than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 31 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NBIS_USDC_mythos	229.32	0.0100	pay 0.0100% / 8h	7h 20m	$2K	$3K	10x
Short	SoDEX NBIS-USD	229.20	0.0233	get 0.0029% / 1h	20m 04s	$69	$20K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Orderly. 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 OrderlybpFee SoDEXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $27.98
Price spread: −0.052% → 0.000%: −$5.23
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $8.74
Costs to cover: 0.140%
Break-even: 4.8 days

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

Orderly and SoDEX: 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	−0.0198%	8h	229.42	+0.044%	$2.3M	$4.6M	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	−0.0055%	1h	229.36	+0.017%	$34K	$49K	10x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	226.87	−1.068%	$352K	$801K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	229.14	−0.078%	$73K	$320K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	229.31	−0.002%	$143K	$859K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	229.41	+0.039%	$18.4M	$89.7M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	229.52	+0.087%	$4.8M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	229.35	+0.013%	$3.2M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	229.38	+0.026%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	229.38	+0.027%	$2.8M	$597K	—	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	228.55	−0.335%	$4K	$113K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	229.36	+0.017%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	228.88	−0.192%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	229.33	+0.004%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0015%	8h	229.14	−0.078%	$202K	$213K	20x	as long as short
edgeX NBISUSDC	+0.0030%	4h	228.53	−0.344%	$37K	$227K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	229.44	+0.052%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	229.27	−0.022%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.20	−0.052%	$136K	$466K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	229.31	−0.004%	$147K	$534K	10x	as long as short
QFEX NBIS-USD	+0.0064%	1h	229.41	+0.039%	$1.5M	$3.7M	10x	as long as short
Nado NBIS-PERP	+0.0072%	1h	229.40	+0.035%	$38K	$116K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	229.23	−0.039%	$471K	$76K	20x	as long as short
Orderly PERP_NBIS_USDC_mythoslong	+0.0100%	8h	229.32	long leg	$2K	$3K	10x
Lighter NBIS	+0.0104%	1h	229.47	+0.065%	$901K	$4.1M	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	229.29	−0.013%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0107%	1h	229.39	+0.031%	$53.5M	$21.6M	10x	as long as short
SoDEX NBIS-USDshort	+0.0233%	1h	229.20	−0.052%	$69	$20K	10x
Phoenix NBIS	+0.0277%	1h	227.46	−0.811%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0312%	1h	228.77	−0.240%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0681%	1h	229.27	−0.024%	$22K	$16K	20x	as long as short