Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0041%/8h= +4.5% APRpaid last 24h +0.012%

Price spread now: QFEX against SunX−0.073%7-day average −0.012% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1441.441% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.020%+$2 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.073%, 7d avg −0.012%

Together, before fees+0.103%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.061% cheaper against SunX than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of −0.012%). If the spread goes back, that is −$6 on $10k: about 5.0 days of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.020% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	231.36	0	get 0.0000% / 8h	34m 46s	$1K	$1.6M	10x
Short	QFEX NBIS-USD	231.19	0.0041	get 0.0005% / 1h	34m 46s	$1.5M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.073%Rate

Funding earned: $8.55
Price spread: −0.073% → −0.012%: −$6.15
Slippage, 4 orders: −$126.14
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$141.74
Costs to cover: 1.441%
Break-even: 123.0 days

Slippage from SunX: live order book, 10 min ago; QFEX: live order book, 4 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, 10 min ago	45.22 bp	63.7 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 4 min ago	2.81 bp	8.2 bp −$8	11.6 bp −$116	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	−0.0444%	8h	231.36	0.000%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.14	−0.095%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.23	−0.056%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.32	−0.019%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.31	−0.022%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.27	−0.039%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.27	−0.039%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.082%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	−0.030%	$4K	$116K	10x	as long as short
SunX NBIS-USDTlong	0.0000%	8h	231.36	long leg	$1K	$1.6M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.29	−0.030%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.34	−0.009%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDT	+0.0028%	8h	231.35	−0.004%	$203K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.12	−0.104%	$42K	$131K	5x	as long as short
QFEX NBIS-USDshort	+0.0041%	1h	231.19	−0.073%	$1.5M	$3.8M	10x
Vest NBIS-USD-PERP	+0.0046%	1h	231.03	−0.143%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.09	−0.117%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.06	−0.130%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.419%	$353K	$814K	10x	as long as short
SoDEX NBIS-USD	+0.0091%	1h	231.25	−0.048%	$102	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.00	−0.156%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.18	−0.078%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.17	−0.083%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0150%	1h	231.15	−0.091%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0171%	1h	231.06	−0.128%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.099%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	−0.028%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0368%	1h	231.18	−0.078%	$932K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0437%	1h	231.10	−0.112%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.13	−0.100%	$23K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0746%	1h	231.13	−0.099%	$34K	$49K	10x	as long as short