Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0366%/8h= −40.1% APRpaid last 24h −0.027%

Price spread now: OKX against Arcus−0.055%7-day average +0.013% · 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−$38as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.128%−$13 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now −0.055%, 7d avg +0.013%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and OKX is 0.068% cheaper against Arcus than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NBIS-USD	235.76	0.0366	pay 0.0046% / 1h	23m 17s	$44K	$132K	5x
Short	OKX NBIS-USDT-SWAP	235.63	0	get 0.0000% / 8h	7h 23m	$3.4M	$16.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$76.93
Price spread: −0.055% → +0.013%: −$6.81
Slippage, 4 orders: −$17.17
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$115.41
Costs to cover: 0.317%
Break-even: never at this rate

Slippage from Arcus: live order book, 50 min ago; OKX: 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, 50 min ago	2.98 bp	5.2 bp −$5	10.8 bp −$108	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.06 bp	10.1 bp −$10	24.9 bp −$249	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.58	−0.075%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	235.63	−0.055%	$3.4M	$16.8M	25x
Gate NBIS_USDT	0.0000%	8h	235.64	−0.051%	$2.8M	$5.1M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.91	+0.064%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.57	−0.081%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.58	−0.076%	$15K	$112K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.70	−0.025%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.123%	$386K	$739K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.57	−0.081%	$1.5M	$4.9M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.98	+0.093%	—	$224K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NBISUSDT	+0.0049%	8h	235.63	−0.055%	$5.1M	$6.5M	50x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	236.13	+0.157%	$176K	$505K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.40	−0.153%	$485K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.58	−0.076%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.60	−0.067%	—	—	10x	as long as short
Bitget NBISUSDT	+0.0108%	8h	235.70	−0.025%	$2.5M	$4.6M	20x	as long as short
SoDEX NBIS-USD	+0.0131%	1h	235.67	−0.038%	$52	$20K	10x	as long as short
Nado NBIS-PERP	+0.0182%	1h	235.47	−0.122%	$31K	$66K	3x	as long as short
edgeX NBISUSDC	+0.0184%	4h	235.95	+0.079%	$38K	$228K	10x	as long as short
Variational Omni NBIS	+0.0240%	8h	236.09	+0.140%	$2.9M	$820K	—	as long as short
Aster NBISUSDT	+0.0248%	8h	235.67	−0.037%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0255%	8h	235.72	−0.017%	$207K	$211K	20x	as long as short
Binance NBISUSDT	+0.0270%	8h	235.53	−0.096%	$19.6M	$85.6M	25x	as long as short
Extended NBIS-USD	+0.0272%	1h	235.49	−0.114%	$151K	$812K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0311%	1h	235.66	−0.042%	$134K	$444K	10x	as long as short
Lighter NBIS	+0.0328%	1h	235.79	+0.013%	$926K	$4.5M	10x	as long as short
Arcus NBIS-USDlong	+0.0366%	1h	235.76	long leg	$44K	$132K	5x
Phoenix NBIS	+0.0409%	1h	235.89	+0.055%	$7K	$163K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0409%	1h	235.57	−0.081%	$55.1M	$23.7M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0446%	8h	236.00	+0.102%	$5K	$132K	10x	as long as short
Entropy io:NBIS	+0.0870%	1h	235.75	−0.004%	$10.3M	$3.4M	10x	as long as short