Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.015%

Price spread now: Bybit against Arcus+0.126%7-day average +0.014% · 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−$36as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.086%−$9 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.126%, 7d avg +0.014%

Together, before fees−0.151%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.111% dearer against Arcus than usual: you sell high and buy low (spread +0.126% now, against its 7-day average of +0.014%): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NBIS-USD	230.73	0.0040	pay 0.0005% / 1h	18m 20s	$42K	$132K	5x
Short	Bybit NBISUSDT	231.02	0	get 0.0000% / 8h	1h 18m	$4.9M	$6.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now +0.126%Rate

Funding earned: −$8.46
Price spread: +0.126% → +0.014%: $11.14
Slippage, 4 orders: −$31.32
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.13
Costs to cover: 0.468%
Break-even: never at this rate

Slippage from Arcus: live order book, 25 min ago; Bybit: live order book, 5 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 Arcus live order book, 25 min ago	4.12 bp	9.2 bp −$9	17.3 bp −$173	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.16 bp	13.7 bp −$14	74.5 bp −$745	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	−0.0579%	8h	230.98	+0.108%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.87	+0.061%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.92	+0.082%	$149K	$635K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.99	+0.113%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDTshort	0.0000%	8h	231.02	+0.126%	$4.9M	$6.7M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	230.89	+0.069%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.97	+0.104%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.92	+0.082%	$2.8M	$601K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.97	+0.103%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.96	+0.100%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	230.93	+0.087%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.97	+0.104%	$1.6M	$964K	10x	as long as short
BloFin NBIS-USDT	+0.0008%	8h	230.84	+0.048%	$203K	$205K	20x	as long as short
Arcus NBIS-USDlong	+0.0040%	1h	230.73	long leg	$42K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	230.80	+0.030%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.77	+0.017%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.87	+0.061%	$111	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.82	+0.039%	$151K	$547K	10x	as long as short
Nado NBIS-PERP	+0.0054%	1h	230.73	−0.002%	$37K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.91	+0.078%	$1.5M	$3.8M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0076%	1h	230.82	+0.039%	$54.3M	$21.0M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0097%	1h	230.87	+0.061%	$34K	$49K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.81	+0.035%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.96	+0.100%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.90	+0.075%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.39	−0.147%	$351K	$812K	10x	as long as short
Lighter NBIS	+0.0192%	1h	230.94	+0.091%	$954K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.98	+0.108%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0361%	1h	230.83	+0.043%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0684%	1h	230.89	+0.069%	$23K	$15K	20x	as long as short
edgeX NBISUSDC	+0.0789%	4h	230.95	+0.097%	$37K	$227K	10x	as long as short