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 −0.033%

Price spread now: Phemex against Arcus+0.009%7-day average +0.026% · 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−$105as in the Price arb table

costs, in and out, $10k−$1031.034% of the position

Long on Arcus Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.164%−$16 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.009%, 7d avg +0.026%

Together, before fees−0.214%−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NBIS-USD	230.49	0.0040	pay 0.0005% / 1h	40m 21s	$42K	$132K	5x
Short	Phemex NBISUSDT	230.51	0	get 0.0000% / 8h	1h 40m	$1.6M	$963K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$8.46
Price spread: +0.009% → +0.026%: −$1.7
Slippage, 4 orders: −$86.91
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$113.58
Costs to cover: 1.034%
Break-even: never at this rate

Slippage from Arcus: live order book, 3 min ago; Phemex: live order book, 2 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, 3 min ago	4.12 bp	9.2 bp −$9	17.3 bp −$173	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	3.04 bp	42.0 bp −$42	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
Bitget NBISUSDT	−0.0493%	8h	230.57	+0.035%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.52	+0.013%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.65	+0.069%	$144K	$670K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.53	+0.017%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.53	+0.017%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.51	+0.009%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.55	+0.026%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.48	−0.004%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.38	−0.049%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.52	+0.013%	$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	230.50	+0.004%	$15K	$57K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	230.51	+0.009%	$1.6M	$963K	10x
BloFin NBIS-USDT	+0.0014%	8h	230.45	−0.017%	$204K	$205K	20x	as long as short
Arcus NBIS-USDlong	+0.0040%	1h	230.49	long leg	$42K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	230.44	−0.022%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.45	−0.017%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.33	−0.069%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.31	−0.078%	$152K	$547K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.58	+0.039%	$1.5M	$3.9M	10x	as long as short
Nado NBIS-PERP	+0.0075%	1h	230.49	0.000%	$37K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.49	0.000%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.50	+0.004%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.38	−0.047%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.47	−0.009%	$351K	$812K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0136%	1h	230.49	0.000%	$54.2M	$21.0M	10x	as long as short
Lighter NBIS	+0.0216%	1h	230.51	+0.009%	$946K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.47	−0.009%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0372%	1h	230.60	+0.048%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0470%	4h	230.86	+0.162%	$37K	$228K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0488%	1h	230.42	−0.030%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0686%	1h	230.48	−0.005%	$23K	$15K	20x	as long as short