NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0350%/8h= +38.3% APRnext payment +$0.44 per $10,000 · paid last 24h +0.062%

Price spread now: Lighter against Polymarket Perps+0.026%7-day average +0.065% · you sell dearer than you buy

Net, funding: paid 7d − costs+$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.467%+$47 on $10k

Price spread, last 4 days (all we have)−0.055%−$6 · spread now +0.026%, 7d avg +0.065%

Together, before fees+0.411%+ Points / potential airdropLighter: Season 3 · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.040% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.026% now, against its 7-day average of +0.065%). If the spread goes back, that is −$4 on $10k: about 9 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps NBIS-USD	232.48	0.0050	pay 0.0006% / 1h	4m 34s	$139K	$472K	10x
Short	Lighter NBIS	232.54	0.0400	get 0.0050% / 1h	4m 34s	$943K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.026%Rate

Funding earned: $73.5
Price spread: +0.026% → +0.065%: −$3.96
Slippage, 4 orders: −$10.31
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $51.23
Costs to cover: 0.183%
Break-even: 2.1 days

Slippage from Polymarket Perps: live order book, 46 min ago; Lighter: live order book, 6 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 Polymarket Perps live order book, 46 min ago	4.12 bp	8.1 bp −$8	12.1 bp −$121	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.43 bp	1.1 bp −$1	2.5 bp −$25	64.0 bp −$6,397	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	232.54	+0.026%	$3.3M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.58	+0.043%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	232.63	+0.065%	$2.3M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.64	+0.069%	$984	$1.5M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.36	−0.052%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.33	−0.065%	$1.6M	$969K	10x	as long as short
Variational Omni NBIS	+0.0024%	8h	232.60	+0.052%	$2.9M	$636K	—	as long as short
Bybit NBISUSDT	+0.0044%	8h	232.55	+0.030%	$5.0M	$6.8M	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	232.64	+0.069%	—	$250K	5x	as long as short
Polymarket Perps NBIS-USDlong	+0.0050%	1h	232.48	long leg	$139K	$472K	10x

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.52	−0.413%	$153K	$538K	10x	as long as short
QFEX NBIS-USD	+0.0054%	1h	232.52	+0.017%	$1.6M	$3.7M	10x	as long as short
Aster NBISUSDT	+0.0058%	8h	232.07	−0.175%	$74K	$312K	50x	as long as short
Extended NBIS-USD	+0.0088%	1h	232.39	−0.038%	$146K	$847K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	231.78	−0.301%	$382K	$877K	10x	as long as short
Binance NBISUSDT	+0.0092%	8h	232.47	−0.003%	$19.7M	$90.6M	25x	as long as short
BloFin NBIS-USDT	+0.0099%	8h	232.50	+0.009%	$158K	$217K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.17	−0.133%	$471K	$162K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.39	−0.039%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.09	−0.169%	—	—	10x	as long as short
SoDEX NBIS-USD	+0.0129%	1h	232.31	−0.073%	$70	$19K	10x	as long as short
Nado NBIS-PERP	+0.0133%	1h	232.39	−0.039%	$38K	$86K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0137%	1h	232.36	−0.052%	$34K	$49K	10x	as long as short
Arcus NBIS-USD	+0.0257%	1h	232.47	−0.004%	$42K	$121K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0285%	1h	232.45	−0.013%	$54.7M	$19.2M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0318%	8h	232.34	−0.061%	$4K	$103K	10x	as long as short
Phoenix NBIS	+0.0347%	1h	232.07	−0.176%	$7K	$127K	10x	as long as short
Lighter NBISshort	+0.0400%	1h	232.54	+0.026%	$943K	$4.1M	10x
edgeX NBISUSDC	+0.0587%	4h	232.09	−0.169%	$37K	$227K	10x	as long as short
Entropy io:NBIS	+0.0665%	1h	232.18	−0.129%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0764%	1h	232.46	−0.009%	$22K	$11K	20x	as long as short