Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0305%/8h= −33.4% APRnext payment −$0.38 per $10,000 · paid last 24h —

Price spread now: Aevo against Phoenix−0.088%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Aevo is 0.088% cheaper against Phoenix than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NBIS	235.61	0.0409	pay 0.0051% / 1h	58m 37s	$7K	$149K	10x
Short	Aevo NBIS-PERP	235.40	0.0104	get 0.0013% / 1h	58m 37s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Phoenix. 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 PhoenixbpFee AevobpOrdersPrice spread, now −0.088%Rate

Funding earned: −$64.08
Price spread: −0.088% → 0.000%: −$8.81
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$95.89
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 3 min ago; Aevo: 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 Phoenix live order book, 3 min ago	5.09 bp	15.1 bp −$15	32.3 bp −$323	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: 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
Bybit NBISUSDT	0.0000%	8h	235.23	−0.161%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.18	−0.183%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.28	−0.140%	$2.8M	$4.9M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.35	−0.110%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.33	−0.119%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.61	0.000%	$15K	$66K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.40	−0.089%	$1.6M	$972K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	235.17	−0.187%	$1.5M	$4.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.51	−0.042%	$43K	$134K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.85	+0.102%	—	$223K	5x	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	235.46	−0.064%	$142K	$462K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.36	−0.106%	$94	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.39	−0.093%	$174K	$507K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0055%	1h	235.24	−0.157%	$55.0M	$23.6M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0095%	1h	235.31	−0.128%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.25	−0.153%	$485K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.50	−0.047%	$2K	$3K	10x	as long as short
Bitget NBISUSDT	+0.0101%	8h	235.30	−0.132%	$2.5M	$4.6M	20x	as long as short
Aevo NBIS-PERPshort	+0.0104%	1h	235.40	−0.088%	—	—	10x
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+0.187%	$386K	$736K	10x	as long as short
Nado NBIS-PERP	+0.0134%	1h	235.47	−0.060%	$31K	$66K	3x	as long as short
Lighter NBIS	+0.0240%	1h	235.31	−0.127%	$918K	$4.4M	10x	as long as short
Aster NBISUSDT	+0.0261%	8h	235.58	−0.012%	$81K	$308K	50x	as long as short
Variational Omni NBIS	+0.0263%	8h	235.53	−0.034%	$2.9M	$591K	—	as long as short
Binance NBISUSDT	+0.0285%	8h	235.20	−0.173%	$19.5M	$85.4M	25x	as long as short
Extended NBIS-USD	+0.0288%	1h	235.19	−0.176%	$151K	$705K	10x	as long as short
BloFin NBIS-USDT	+0.0310%	8h	235.50	−0.047%	$207K	$210K	20x	as long as short
Entropy io:NBIS	+0.0342%	1h	235.47	−0.059%	$10.3M	$3.4M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0361%	8h	235.62	+0.004%	$5K	$131K	10x	as long as short
Phoenix NBISlong	+0.0409%	1h	235.61	long leg	$7K	$149K	10x
edgeX NBISUSDC	+0.0981%	4h	235.58	−0.013%	$38K	$227K	10x	as long as short