Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.068%

Price spread now: Coinbase International against SunX−0.026%57s7-day average +0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1531.530% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.501%+$50 on $10k

Price spread, last 4 days (all we have)+0.316%+$32 · spread now −0.026%, 7d avg +0.089%

Together, before fees+0.818%+$82 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.115% cheaper against SunX than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.089%). If the spread goes back, that is −$11 on $10k: about 4.3 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.501% in total) that is about 38 hours. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	230.84	0	get 0.0000% / 8h	6h 57m	$1K	$1.6M	10x
Short	Coinbase International NBIS-PERP-INTX	230.78	0.0088	get 0.0011% / 1h	57m 26s	$382K	$869K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against SunX. 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 SunXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.026%Rate

Funding earned: $18.48
Price spread: −0.026% → +0.089%: −$11.46
Slippage, 4 orders: −$134.97
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$145.94
Costs to cover: 1.530%
Break-even: 62.3 days

Slippage from SunX: live order book, 8 min ago; Coinbase International: live order book, 36 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 SunX live order book, 8 min ago	45.32 bp	63.9 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 36 min ago	6.59 bp	13.1 bp −$13	22.2 bp −$222	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
Bitget NBISUSDT	−0.0058%	8h	230.96	+0.052%	$2.3M	$4.6M	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.94	+0.043%	$3.3M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.98	+0.061%	$2.7M	$5.0M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.37	−0.203%	$2.8M	$601K	—	as long as short
SunX NBIS-USDTlong	0.0000%	8h	230.84	long leg	$1K	$1.6M	10x
Phemex NBISUSDT	0.0000%	8h	230.92	+0.035%	$1.6M	$971K	10x	as long as short
Aster NBISUSDT	+0.0021%	8h	230.68	−0.069%	$74K	$320K	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.90	+0.026%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.90	+0.026%	$137K	$467K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.75	−0.039%	$149K	$536K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0054%	1h	230.91	+0.030%	$1.6M	$3.7M	10x	as long as short
Extended NBIS-USD	+0.0056%	1h	230.81	−0.012%	$144K	$856K	10x	as long as short
BloFin NBIS-USDT	+0.0060%	8h	230.86	+0.009%	$201K	$215K	20x	as long as short
Binance NBISUSDT	+0.0060%	8h	230.87	+0.012%	$18.8M	$90.6M	25x	as long as short
Nado NBIS-PERP	+0.0084%	1h	230.80	−0.018%	$38K	$116K	3x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0088%	1h	230.78	−0.026%	$382K	$869K	10x
Deribit NBIS_USDC-PERPETUAL	+0.0097%	1h	230.83	−0.004%	$34K	$50K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.74	−0.043%	$468K	$103K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.00	+0.069%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.95	+0.049%	—	—	10x	as long as short
Bybit NBISUSDT	+0.0196%	8h	230.92	+0.035%	$4.9M	$6.8M	50x	as long as short
HTX NBIS-USDT	+0.0199%	8h	230.68	−0.069%	$13K	$62K	20x	as long as short
Arcus NBIS-USD	+0.0257%	1h	230.86	+0.009%	$42K	$124K	5x	as long as short
Phoenix NBIS	+0.0277%	1h	230.93	+0.039%	$7K	$127K	10x	as long as short
edgeX NBISUSDC	+0.0315%	4h	230.90	+0.026%	$37K	$226K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0343%	1h	230.96	+0.052%	$54.2M	$22.0M	10x	as long as short
Lighter NBIS	+0.0344%	1h	231.01	+0.074%	$930K	$4.0M	10x	as long as short
SoDEX NBIS-USD	+0.0438%	1h	230.94	+0.043%	$74	$20K	10x	as long as short
Entropy io:NBIS	+0.0767%	1h	230.69	−0.065%	$10.1M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0769%	1h	231.02	+0.077%	$22K	$16K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0817%	8h	230.41	−0.186%	$5K	$114K	10x	as long as short