Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h −0.012%

Price spread now: SunX against QFEX+0.034%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$144as in the Price arb table

costs, in and out, $10k−$1461.464% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−0.081%−$8 · spread now +0.034%, 7d avg +0.010%

Together, before fees−0.099%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.024% dearer against QFEX than usual: you sell high and buy low (spread +0.034% now, against its 7-day average of +0.010%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 4 days (−0.018% in total) that is about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NBIS-USD	235.29	0.0038	pay 0.0005% / 1h	8m 22s	$1.5M	$4.1M	10x
Short	SunX NBIS-USDT	235.37	0	get 0.0000% / 8h	4h 08m	$1K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against QFEX. 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 QFEXbpFee SunXbpOrdersPrice spread, now +0.034%Rate

Funding earned: −$8.03
Price spread: +0.034% → +0.010%: $2.36
Slippage, 4 orders: −$128.43
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$152.1
Costs to cover: 1.464%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; SunX: live order book, 7 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 QFEX live order book, 5 min ago	2.34 bp	9.4 bp −$9	14.0 bp −$140	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	45.49 bp	64.6 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
Nado NBIS-PERP	−0.0052%	1h	235.30	+0.003%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.43	+0.060%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.31	+0.009%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.40	+0.047%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.37	+0.034%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	235.40	+0.047%	$2.9M	$561K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.47	+0.076%	$5K	$120K	10x	as long as short
SunX NBIS-USDTshort	0.0000%	8h	235.37	+0.034%	$1K	$1.7M	10x
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.28	−0.004%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.32	+0.013%	$15K	$60K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NBISUSDT	0.0000%	8h	235.43	+0.060%	$1.6M	$955K	10x	as long as short
BloFin NBIS-USDT	+0.0030%	8h	235.40	+0.047%	$207K	$205K	20x	as long as short
Aster NBISUSDT	+0.0035%	8h	235.34	+0.022%	$79K	$310K	50x	as long as short
QFEX NBIS-USDlong	+0.0038%	1h	235.29	long leg	$1.5M	$4.1M	10x
Binance NBISUSDT	+0.0039%	8h	235.35	+0.026%	$19.4M	$84.5M	25x	as long as short
Extended NBIS-USD	+0.0040%	1h	235.27	−0.009%	$150K	$701K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.24	−0.021%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.65	+0.153%	—	$216K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.34	+0.021%	$54.9M	$19.9M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.31	+0.009%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.41	+0.051%	$71	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.30	+0.004%	$161K	$502K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.56	+0.115%	$389K	$724K	10x	as long as short
edgeX NBISUSDC	+0.0074%	4h	235.41	+0.052%	$38K	$226K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.20	−0.038%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.44	+0.064%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.38	+0.040%	—	—	10x	as long as short
Lighter NBIS	+0.0168%	1h	235.52	+0.098%	$904K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.58	+0.123%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0426%	1h	235.36	+0.030%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.34	+0.023%	$24K	$15K	20x	as long as short