Funding you earn now, next payment 04:00 UTC−0.0239%/8h= −26.1% APRpaid last 24h −0.101%
Price spread now: SunX against Phoenix−0.282%7-day average −0.099% · you buy dearer than you sell
Net, funding: paid 7d − costs−$220as in the Funding arb table
Net, price: spread back to 7d avg − costs−$179as in the Price arb table
costs, in and out, $10k−$1611.607% of the position
Funding, last 7 days−0.595%−$60 on $10k
+Price spread, last 4 days (all we have)+0.161%+$16 · spread now −0.282%, 7d avg −0.099%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and SunX is 0.183% cheaper against Phoenix than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.099%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NBIS | 234.36 | 0.0239 | pay 0.0030% / 1h | 40m 26s | $7K | $150K | 10x |
| Short | SunX NBIS-USDT | 233.70 | 0 | get 0.0000% / 8h | 3h 40m | $848 | $1.7M | 10x |
Phoenix NBIS
SunX NBIS-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$50.14
- Price spread: −0.282% → −0.099%
- −$18.27
- Slippage, 4 orders
- −$145.69
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$229.1
- Costs to cover
- 1.607%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 5 min ago; SunX: live order book, 5 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 Phoenix live order book, 5 min ago | 5.12 bp | 15.9 bp −$16 | 34.5 bp −$345 | doesn't fit | doesn't fit |
| Sell SunX live order book, 5 min ago | 45.42 bp | 64.7 bp −$65 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin NBIS-USDT | −0.0010% | 8h | 233.67 | −0.294% | $206K | $205K | 20x | as long as short |
| Aster NBISUSDT | 0.0000% | 8h | 233.93 | −0.185% | $78K | $310K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 233.63 | −0.310% | $147K | $699K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 233.72 | −0.274% | $19.2M | $84.6M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 233.72 | −0.273% | $5.0M | $6.3M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 233.55 | −0.346% | $3.4M | $16.1M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 233.73 | −0.269% | $2.7M | $5.0M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 233.68 | −0.290% | $2.4M | $4.4M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 233.67 | −0.293% | $2.9M | $556K | — | as long as short |
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 234.45 | +0.038% | $4K | $120K | 10x | as long as short |
BloFin NBIS-USDT
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
Variational Omni NBIS
GRVT NBIS_USDT_PerpShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX NBIS-USDTshort | 0.0000% | 8h | 233.70 | −0.282% | $848 | $1.7M | 10x | |
| Deribit NBIS_USDC-PERPETUAL | 0.0000% | 1h | 233.59 | −0.329% | $35K | $49K | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 234.10 | −0.111% | $15K | $60K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 233.74 | −0.265% | $1.6M | $954K | 10x | as long as short |
| Nado NBIS-PERP | +0.0028% | 1h | 233.62 | −0.317% | $38K | $115K | 3x | as long as short |
| QFEX NBIS-USD | +0.0034% | 1h | 233.81 | −0.235% | $1.5M | $4.0M | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 233.87 | −0.209% | $42K | $132K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 233.99 | −0.158% | — | $216K | 5x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0049% | 1h | 233.57 | −0.338% | $23K | $15K | 20x | as long as short |
| tradeXYZ xyz:NBIS | +0.0050% | 1h | 233.67 | −0.294% | $54.5M | $20.0M | 10x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 233.68 | −0.290% | $147K | $456K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 233.73 | −0.269% | $79 | $21K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 233.98 | −0.162% | $160K | $502K | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 233.68 | −0.290% | $481K | $20K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 233.70 | −0.282% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 233.65 | −0.303% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0104% | 1h | 235.56 | +0.512% | $389K | $724K | 10x | as long as short |
| Lighter NBIS | +0.0216% | 1h | 233.76 | −0.256% | $912K | $3.9M | 10x | as long as short |
| Phoenix NBISlong | +0.0239% | 1h | 234.36 | long leg | $7K | $150K | 10x | |
| Entropy io:NBIS | +0.0299% | 1h | 233.88 | −0.205% | $10.2M | $3.2M | 10x | as long as short |
| edgeX NBISUSDC | +0.0607% | 4h | 234.16 | −0.087% | $38K | $225K | 10x | as long as short |
Deribit NBIS_USDC-PERPETUAL
HTX NBIS-USDT
Phemex NBISUSDT
Nado NBIS-PERP
QFEX NBIS-USD
Arcus NBIS-USD
Vest NBIS-USD-PERP
Kraken Futures PF_NBISUSD
tradeXYZ xyz:NBIS
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
Lighter NBIS
Entropy io:NBIS
edgeX NBISUSDC