Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0061%/8h= −6.6% APRpaid last 24h −0.075%

Price spread now: SunX against tradeXYZ+0.059%52s7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$182as 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−$1501.497% of the position

Long on tradeXYZ Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.319%−$32 on $10k

Price spread, last 4 days (all we have)−0.252%−$25 · spread now +0.059%, 7d avg −0.005%

Together, before fees−0.571%+ Points / potential airdroptradeXYZ: Active · farm board−$57 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.065% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.059% now, against its 7-day average of −0.005%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 7 days (−0.319% in total) that is about 34 hours. The two prices were read 52 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	tradeXYZ xyz:NBIS	235.51	0.0061	pay 0.0008% / 1h	59m 27s	$55.2M	$19.7M	10x
Short	SunX NBIS-USDT	235.65	0	get 0.0000% / 8h	4h 59m	$1K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against tradeXYZ. 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 tradeXYZbpFee SunXbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$12.71
Price spread: +0.059% → −0.005%: $6.45
Slippage, 4 orders: −$123.75
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: −$156
Costs to cover: 1.497%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; SunX: 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 tradeXYZ live order book, 10 min ago	0.64 bp	11.7 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	45.20 bp	64.4 bp −$64	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	−0.0344%	1h	235.63	+0.053%	$64K	$100K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.70	+0.081%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.62	+0.047%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.67	+0.068%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.68	+0.072%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.57	+0.025%	$5K	$120K	10x	as long as short
SunX NBIS-USDTshort	0.0000%	8h	235.65	+0.059%	$1K	$1.7M	10x
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.55	+0.017%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.50	−0.004%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.66	+0.064%	$1.6M	$960K	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	+0.0023%	1h	235.61	+0.042%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.37	−0.059%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.86	+0.149%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.52	+0.004%	$150K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.62	+0.047%	$38	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.37	−0.059%	$164K	$500K	10x	as long as short
tradeXYZ xyz:NBISlong	+0.0061%	1h	235.51	long leg	$55.2M	$19.7M	10x
Variational Omni NBIS	+0.0066%	8h	235.50	−0.004%	$2.9M	$566K	—	as long as short
BloFin NBIS-USDT	+0.0098%	8h	235.56	+0.021%	$207K	$205K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.43	−0.034%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.62	+0.047%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.62	+0.045%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	235.35	−0.068%	$389K	$724K	10x	as long as short
Aster NBISUSDT	+0.0106%	8h	235.66	+0.062%	$81K	$307K	50x	as long as short
Binance NBISUSDT	+0.0110%	8h	235.71	+0.086%	$19.3M	$84.4M	25x	as long as short
Extended NBIS-USD	+0.0112%	1h	235.61	+0.044%	$147K	$706K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0151%	1h	235.43	−0.034%	$24K	$15K	20x	as long as short
Lighter NBIS	+0.0248%	1h	235.72	+0.089%	$902K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	235.30	−0.089%	$7K	$149K	10x	as long as short
edgeX NBISUSDC	+0.0325%	4h	235.54	+0.012%	$38K	$227K	10x	as long as short
Entropy io:NBIS	+0.0502%	1h	235.56	+0.021%	$10.2M	$3.3M	10x	as long as short