Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0183%/8h= −20.0% APRpaid last 24h +0.093%

Price spread now: Kraken Futures against Binance−0.090%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Kraken Futures is 0.090% cheaper against Binance than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	234.77	0.0278	pay 0.0278% / 8h	6h 56m	$19.5M	$85.4M	25x
Short	Kraken Futures PF_NBISUSD	234.56	0.0095	get 0.0012% / 1h	56m 18s	$24K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.090%Rate

Funding earned: −$38.36
Price spread: −0.090% → 0.000%: −$8.95
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$67.31
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 1 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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, 1 min ago	0.85 bp	7.9 bp −$8	22.9 bp −$229	95.5 bp −$9,550	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	234.66	−0.047%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.72	−0.021%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.70	−0.030%	$2.8M	$5.0M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.83	+0.026%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.61	+0.358%	$15K	$66K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.76	−0.004%	$1.6M	$972K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0006%	1h	234.63	−0.060%	$35K	$48K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	234.67	−0.043%	$1.5M	$4.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.15	+0.162%	$43K	$135K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.01	+0.102%	—	$223K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	234.66	−0.047%	$142K	$462K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.70	−0.030%	$84	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.79	+0.009%	$169K	$505K	10x	as long as short
Bitget NBISUSDT	+0.0078%	8h	234.72	−0.021%	$2.5M	$4.6M	20x	as long as short
Nado NBIS-PERP	+0.0091%	1h	234.62	−0.064%	$31K	$66K	3x	as long as short
Kraken Futures PF_NBISUSDshort	+0.0095%	1h	234.56	−0.090%	$24K	$15K	20x
KuCoin NBISUSDTM	+0.0100%	8h	234.75	−0.009%	$484K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.81	+0.017%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.75	−0.008%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+0.545%	$386K	$736K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0155%	1h	234.70	−0.030%	$54.9M	$23.7M	10x	as long as short
Variational Omni NBIS	+0.0253%	8h	234.64	−0.056%	$2.9M	$591K	—	as long as short
Aster NBISUSDT	+0.0257%	8h	235.02	+0.108%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0260%	8h	234.84	+0.030%	$206K	$210K	20x	as long as short
Lighter NBIS	+0.0264%	1h	234.80	+0.013%	$913K	$4.4M	10x	as long as short
Binance NBISUSDTlong	+0.0278%	8h	234.77	long leg	$19.5M	$85.4M	25x
Extended NBIS-USD	+0.0280%	1h	234.69	−0.034%	$151K	$705K	10x	as long as short
Entropy io:NBIS	+0.0314%	1h	235.13	+0.153%	$10.3M	$3.4M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0325%	8h	235.40	+0.268%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.10	+0.141%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0967%	4h	235.39	+0.263%	$38K	$225K	10x	as long as short