Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h +0.004%

Price spread now: Arcus against Binance+0.014%7-day average −0.030% · 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−$30as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on Binance Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.062%+$6 on $10k

Price spread, last 2 days (all we have)−0.013%−$1 · spread now +0.014%, 7d avg −0.030%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.044% dearer against Binance than usual: you sell high and buy low (spread +0.014% now, against its 7-day average of −0.030%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 18 hours. Mind the row above: over the last 3 days funding on this pair paid +0.062%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.062% in total (about 6.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	233.39	0.0240	pay 0.0240% / 8h	6h 39m	$19.2M	$85.1M	25x
Short	Arcus NBIS-USD	233.42	0.0040	get 0.0005% / 1h	39m 14s	$42K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Binance. 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 BinancebpFee ArcusbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$41.89
Price spread: +0.014% → −0.030%: $4.36
Slippage, 4 orders: −$19.92
Fee Binance: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$71.94
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from Binance: live order book, 3 min ago; Arcus: live order book, 29 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 Binance live order book, 3 min ago	0.21 bp	8.2 bp −$8	23.6 bp −$236	86.6 bp −$8,660	doesn't fit
Sell Arcus live order book, 29 min ago	2.33 bp	12.5 bp −$12	20.4 bp −$204	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
Bybit NBISUSDT	0.0000%	8h	233.48	+0.040%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.40	+0.005%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.47	+0.035%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.38	−0.003%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.40	+0.005%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.78	+0.168%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.42	+0.014%	$1.6M	$971K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.30	−0.037%	$1.5M	$4.7M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0036%	8h	233.58	+0.083%	$5K	$129K	10x	as long as short
Arcus NBIS-USDshort	+0.0040%	1h	233.42	+0.014%	$42K	$132K	5x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	233.43	+0.018%	—	$226K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.29	−0.042%	$148K	$468K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.35	−0.016%	$98	$20K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0050%	1h	233.26	−0.055%	$35K	$48K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.39	+0.001%	$163K	$498K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.24	−0.065%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.34	−0.020%	$481K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.33	−0.025%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.36	−0.011%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.141%	$386K	$721K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0120%	1h	233.31	−0.033%	$54.7M	$20.0M	10x	as long as short
Nado NBIS-PERP	+0.0156%	1h	233.22	−0.070%	$67K	$94K	3x	as long as short
Aster NBISUSDT	+0.0218%	8h	233.50	+0.050%	$81K	$314K	50x	as long as short
Variational Omni NBIS	+0.0223%	8h	233.46	+0.031%	$2.8M	$570K	—	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.280%	$207K	$209K	20x	as long as short
Binance NBISUSDTlong	+0.0240%	8h	233.39	long leg	$19.2M	$85.1M	25x
Extended NBIS-USD	+0.0240%	1h	233.29	−0.043%	$150K	$705K	10x	as long as short
Lighter NBIS	+0.0288%	1h	233.41	+0.010%	$901K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	233.43	+0.018%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0339%	4h	233.68	+0.125%	$38K	$225K	10x	as long as short
Entropy io:NBIS	+0.0355%	1h	233.52	+0.057%	$10.1M	$3.3M	10x	as long as short