Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0040%/8h= +4.4% APRpaid last 24h +0.029%

Price spread now: Arcus against Phemex+0.200%7-day average −0.026% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$1241.236% of the position

Long on Phemex Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.157%+$16 on $10k

Price spread, last 3 days (all we have)−0.159%−$16 · spread now +0.200%, 7d avg −0.026%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Arcus is 0.226% dearer against Phemex than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NBISUSDT	234.86	0	get 0.0000% / 8h	6h 57m	$1.6M	$972K	10x
Short	Arcus NBIS-USD	235.33	0.0040	get 0.0005% / 1h	57m 14s	$43K	$135K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phemex. 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 PhemexbpFee ArcusbpOrdersPrice spread, now +0.200%Rate

Funding earned: $8.46
Price spread: +0.200% → −0.026%: $22.63
Slippage, 4 orders: −$107.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$92.51
Costs to cover: 1.236%
Break-even: 83.6 days

Slippage from Phemex: live order book, 1 min ago; Arcus: live order book, 11 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 Phemex live order book, 1 min ago	3.19 bp	52.6 bp −$53	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 11 min ago	2.33 bp	12.5 bp −$12	20.4 bp −$204	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
Bybit NBISUSDT	0.0000%	8h	234.73	−0.055%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.87	+0.004%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.92	+0.026%	$2.8M	$4.9M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.84	−0.009%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.61	+0.319%	$15K	$66K	20x	as long as short
Phemex NBISUSDTlong	0.0000%	8h	234.86	long leg	$1.6M	$972K	10x
QFEX NBIS-USD	+0.0024%	1h	234.74	−0.051%	$1.5M	$4.9M	10x	as long as short
Arcus NBIS-USDshort	+0.0040%	1h	235.33	+0.200%	$43K	$135K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	235.16	+0.128%	—	$223K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0048%	1h	234.75	−0.047%	$35K	$48K	10x	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	234.82	−0.017%	$142K	$462K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.84	−0.009%	$89	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.07	+0.089%	$174K	$506K	10x	as long as short
Nado NBIS-PERP	+0.0051%	1h	234.78	−0.034%	$31K	$66K	3x	as long as short
Bitget NBISUSDT	+0.0091%	8h	234.86	0.000%	$2.5M	$4.6M	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0095%	1h	234.66	−0.085%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.82	−0.017%	$484K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.88	+0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.86	+0.002%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+0.507%	$386K	$736K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0148%	1h	234.73	−0.055%	$54.9M	$23.7M	10x	as long as short
Lighter NBIS	+0.0184%	1h	234.89	+0.013%	$913K	$4.4M	10x	as long as short
Aster NBISUSDT	+0.0257%	8h	235.10	+0.101%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0260%	8h	234.84	−0.009%	$206K	$210K	20x	as long as short
Variational Omni NBIS	+0.0263%	8h	235.53	+0.285%	$2.9M	$591K	—	as long as short
Extended NBIS-USD	+0.0280%	1h	234.80	−0.024%	$151K	$705K	10x	as long as short
Binance NBISUSDT	+0.0281%	8h	234.87	+0.004%	$19.5M	$85.4M	25x	as long as short
Entropy io:NBIS	+0.0294%	1h	235.25	+0.166%	$10.3M	$3.4M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0325%	8h	235.40	+0.230%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.10	+0.102%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0967%	4h	235.39	+0.224%	$38K	$225K	10x	as long as short