Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0636%/8h= +69.6% APRpaid last 24h +0.141%

Price spread now: edgeX against Phemex−0.033%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1271.266% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.809%+$81 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now −0.033%, 7d avg −0.020%

Together, before fees+0.866%+ Points / potential airdropedgeX: Active · farm board+$87 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: +$19 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NBISUSDT	233.44	0	get 0.0000% / 8h	6h 37m	$1.6M	$972K	10x
Short	edgeX NBISUSDC	233.36	0.0636	get 0.0318% / 4h	2h 37m	$37K	$226K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $133.51
Price spread: −0.033% → −0.020%: −$1.32
Slippage, 4 orders: −$105.56
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $5.63
Costs to cover: 1.266%
Break-even: 6.7 days

Slippage from Phemex: live order book, 1 min ago; edgeX: live order book, 30 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	3.43 bp	52.0 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 30 min ago	5.52 bp	16.5 bp −$16	doesn't fit	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	233.42	−0.009%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.43	−0.004%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.41	−0.013%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.43	−0.004%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.36	−0.034%	$996	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.25	−0.081%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.40	−0.017%	$15K	$60K	20x	as long as short
Phemex NBISUSDTlong	0.0000%	8h	233.44	long leg	$1.6M	$972K	10x
GRVT NBIS_USDT_Perp	+0.0016%	8h	233.46	+0.010%	$5K	$129K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.39	−0.021%	$1.5M	$4.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	233.34	−0.043%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.43	−0.004%	—	$226K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.38	−0.026%	$148K	$468K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.40	−0.017%	$89	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.42	−0.009%	$163K	$499K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.31	−0.055%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.33	−0.047%	$481K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.42	−0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.35	−0.040%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0109%	1h	233.41	−0.013%	$54.7M	$20.0M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.118%	$386K	$721K	10x	as long as short
Nado NBIS-PERP	+0.0140%	1h	233.34	−0.042%	$67K	$94K	3x	as long as short
Aster NBISUSDT	+0.0216%	8h	233.60	+0.070%	$81K	$314K	50x	as long as short
Variational Omni NBIS	+0.0223%	8h	233.46	+0.008%	$2.8M	$570K	—	as long as short
Extended NBIS-USD	+0.0232%	1h	233.33	−0.045%	$150K	$705K	10x	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.257%	$207K	$209K	20x	as long as short
Binance NBISUSDT	+0.0235%	8h	233.40	−0.018%	$19.2M	$85.1M	25x	as long as short
Lighter NBIS	+0.0280%	1h	233.42	−0.009%	$901K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	233.42	−0.009%	$7K	$152K	10x	as long as short
Entropy io:NBIS	+0.0352%	1h	233.50	+0.026%	$10.1M	$3.3M	10x	as long as short
edgeX NBISUSDCshort	+0.0636%	4h	233.36	−0.033%	$37K	$226K	10x