Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0272%/8h= +29.8% APRpaid last 24h +0.058%

Price spread now: Lighter against Binance−0.022%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs+$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.411%+$41 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.022%, 7d avg +0.007%

Together, before fees+0.428%+ Points / potential airdropLighter: Season 3 · farm board+$43 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.029% cheaper against Binance than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.007%). If the spread goes back, that is −$3 on $10k: about 8 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	231.07	0	get 0.0000% / 8h	9m 10s	$18.8M	$88.0M	25x
Short	Lighter NBIS	231.02	0.0272	get 0.0034% / 1h	9m 10s	$940K	$4.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.022%Rate

Funding earned: $57.12
Price spread: −0.022% → +0.007%: −$2.87
Slippage, 4 orders: −$12.1
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $32.15
Costs to cover: 0.221%
Break-even: 3.1 days

Slippage from Binance: live order book, 3 min ago; Lighter: live order book, 3 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	0.22 bp	8.0 bp −$8	22.2 bp −$222	83.6 bp −$8,355	doesn't fit
Sell Lighter live order book, 3 min ago	1.30 bp	2.1 bp −$2	2.9 bp −$29	84.5 bp −$8,446	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	−0.0370%	8h	231.10	+0.013%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.07	−0.001%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.00	−0.028%	$144K	$878K	10x	as long as short
Binance NBISUSDTlong	0.0000%	8h	231.07	long leg	$18.8M	$88.0M	25x
Bybit NBISUSDT	0.0000%	8h	231.06	−0.004%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.01	−0.026%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.01	−0.026%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.87	−0.086%	$2.8M	$589K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.93	−0.058%	$4K	$115K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.40	+0.143%	$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	231.01	−0.026%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.05	−0.009%	$1.6M	$970K	10x	as long as short
BloFin NBIS-USDT	+0.0006%	8h	231.06	−0.004%	$204K	$212K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.93	−0.061%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.02	−0.022%	$1.5M	$3.7M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.89	−0.078%	—	$223K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.94	−0.056%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.02	−0.022%	$79	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.97	−0.043%	$150K	$542K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.294%	$353K	$805K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.87	−0.087%	$475K	$26K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.01	−0.026%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.01	−0.026%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0119%	1h	230.96	−0.048%	$54.1M	$21.2M	10x	as long as short
Nado NBIS-PERP	+0.0187%	1h	230.86	−0.093%	$38K	$116K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0227%	1h	230.93	−0.061%	$34K	$49K	10x	as long as short
Lighter NBISshort	+0.0272%	1h	231.02	−0.022%	$940K	$4.1M	10x
Phoenix NBIS	+0.0312%	1h	231.04	−0.013%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0347%	4h	230.92	−0.067%	$37K	$226K	10x	as long as short
Entropy io:NBIS	+0.0413%	1h	230.94	−0.056%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0541%	1h	230.90	−0.072%	$23K	$15K	20x	as long as short