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Funding arb · Price arb /

NBIS

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Alert: funding
Measured
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Alert: spread
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Funding you earn now, next payment 08:00 UTC+0.0269%/8h= +29.4% APRnext payment +$2.69 per $10,000 · paid last 24h +0.029%
Price spread now: Binance against Phemex−0.010%7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$89as in the Funding arb table
Net, price: spread back to 7d avg − costs−$99as in the Price arb table
costs, in and out, $10k−$1031.028% of the position
Long on PhemexShort on Binance
What this pair did over the last
the charts below follow
Funding, last 7 days+0.137%+$14 on $10k
Price spread, last 2 days (all we have)−0.078%−$8 · spread now −0.010%, 7d avg −0.048%
Together, before fees+0.059%+$6 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Binance is 0.038% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.048%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.137% in total (about 7.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.69 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhemex NBISUSDT235.700get 0.0000% / 8h7h 21m$1.6M$973K10x
ShortBinance NBISUSDT235.680.0269get 0.0269% / 8h7h 21m$19.6M$85.6M25x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Binance 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

Funding earned
$56.47
Price spread: −0.010% → −0.048%
$3.76
Slippage, 4 orders
−$80.82
Fee Phemex: 6 bp × 2 orders
−$12
Fee Binance: 5 bp × 2 orders
−$10
Net
−$42.59
Costs to cover
1.028%
Break-even
12.3 days
Slippage from Phemex: live order book, 1 min ago; Binance: live order book, 6 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phemex live order book, 1 min ago4.03 bp40.9 bp −$41doesn't fitdoesn't fitdoesn't fit
Sell Binance live order book, 6 min ago0.63 bp8.9 bp −$923.9 bp −$23983.8 bp −$8,378doesn't fit

NBIS on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Kraken Futures PF_NBISUSD−0.0178%1h235.62−0.035%$24K$15K20xas long as short
OKX NBIS-USDT-SWAP0.0000%8h235.69−0.004%$3.4M$16.8M25xas long as short
Gate NBIS_USDT0.0000%8h235.64−0.025%$2.8M$5.1M50xas long as short
SunX NBIS-USDT0.0000%8h235.91+0.089%$1K$1.7M10xas long as short
HTX NBIS-USDT0.0000%8h235.58−0.051%$15K$112K20xas long as short
Phemex NBISUSDTlong0.0000%8h235.70long leg$1.6M$973K10x
Coinbase International NBIS-PERP-INTX+0.0016%1h236.05+0.148%$386K$739K10xas long as short
QFEX NBIS-USD+0.0038%1h235.69−0.004%$1.5M$4.9M10xas long as short
Vest NBIS-USD-PERP+0.0046%1h235.92+0.093%—$224K5xas long as short
Deribit NBIS_USDC-PERPETUAL+0.0047%1h235.56−0.059%$35K$48K10xas long as short
Show all 31 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit NBISUSDT+0.0049%8h235.74+0.017%$5.1M$6.5M50xas long as short
Ondo Perps NBIS-USD.P+0.0050%1h236.13+0.182%$176K$505K10xas long as short
KuCoin NBISUSDTM+0.0100%8h235.44−0.110%$485K$23K20xas long as short
Orderly PERP_NBIS_USDC_mythos+0.0100%8h235.54−0.068%$2K$3K10xas long as short
Aevo NBIS-PERP+0.0104%1h235.56−0.059%——10xas long as short
Bitget NBISUSDT+0.0108%8h235.63−0.030%$2.5M$4.6M20xas long as short
SoDEX NBIS-USD+0.0122%1h235.65−0.021%$47$20K10xas long as short
Nado NBIS-PERP+0.0181%1h235.61−0.038%$31K$66K3xas long as short
edgeX NBISUSDC+0.0184%4h235.95+0.105%$38K$228K10xas long as short
Variational Omni NBIS+0.0240%8h236.09+0.166%$2.9M$820K—as long as short
Aster NBISUSDT+0.0247%8h235.74+0.015%$81K$308K50xas long as short
BloFin NBIS-USDT+0.0255%8h235.72+0.008%$207K$211K20xas long as short
Binance NBISUSDTshort+0.0269%8h235.68−0.010%$19.6M$85.6M25x
Extended NBIS-USD+0.0272%1h235.65−0.023%$151K$781K10xas long as short
Polymarket Perps NBIS-USD+0.0301%1h235.57−0.055%$138K$451K10xas long as short
Lighter NBIS+0.0320%1h235.75+0.021%$925K$4.5M10xas long as short
Arcus NBIS-USD+0.0366%1h235.700.000%$44K$132K5xas long as short
tradeXYZ xyz:NBIS+0.0395%1h235.58−0.051%$55.1M$23.7M10xas long as short
Phoenix NBIS+0.0409%1h235.89+0.081%$7K$163K10xas long as short
GRVT NBIS_USDT_Perp+0.0446%8h236.00+0.127%$5K$132K10xas long as short
Entropy io:NBIS+0.0868%1h235.71+0.004%$10.3M$3.4M10xas long as short