Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0479%/8h= +52.5% APRpaid last 24h +0.016%

Price spread now: Polymarket Perps against Bitget−0.034%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$470.466% of the position

Long on Bitget Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.034%, 7d avg −0.008%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.026% cheaper against Bitget than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of −0.008%). If the spread goes back, that is −$3 on $10k: about 4 hours of funding at the current rate (+$14 a day). Mind the row above: over the last 7 days funding on this pair cost −0.092%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.092% in total (about -4.8% 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	Bitget NBISUSDT	232.32	−0.0429	get 0.0429% / 8h	2h 06m	$2.3M	$4.6M	20x
Short	Polymarket Perps NBIS-USD	232.24	0.0050	get 0.0006% / 1h	6m 26s	$138K	$473K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bitget. 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 BitgetbpFee Polymarket PerpsbpOrdersPrice spread, now −0.034%Rate

Funding earned: $100.59
Price spread: −0.034% → −0.008%: −$2.6
Slippage, 4 orders: −$26.62
Fee Bitget: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $51.37
Costs to cover: 0.466%
Break-even: 3.4 days

Slippage from Bitget: live order book, 2 min ago; Polymarket Perps: live order book, 41 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 Bitget live order book, 2 min ago	1.51 bp	16.6 bp −$17	19.6 bp −$196	31.9 bp −$3,189	doesn't fit
Sell Polymarket Perps live order book, 41 min ago	1.73 bp	5.7 bp −$6	7.3 bp −$73	27.0 bp −$2,700	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 NBISUSDTlong	−0.0429%	8h	232.32	long leg	$2.3M	$4.6M	20x
BloFin NBIS-USDT	−0.0009%	8h	232.38	+0.026%	$203K	$206K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	232.09	−0.100%	$85K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.26	−0.027%	$146K	$753K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.32	−0.001%	$18.6M	$87.0M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.31	−0.004%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	232.31	−0.004%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.51	+0.082%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	232.26	−0.024%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.32	0.000%	$5K	$117K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	232.35	+0.013%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.23	−0.039%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.32	0.000%	$1.6M	$957K	10x	as long as short
QFEX NBIS-USD	+0.0029%	1h	232.24	−0.034%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.07	−0.108%	$42K	$132K	5x	as long as short
edgeX NBISUSDC	+0.0045%	4h	232.19	−0.056%	$37K	$226K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	232.26	−0.026%	—	$220K	5x	as long as short
Nado NBIS-PERP	+0.0046%	1h	232.02	−0.131%	$38K	$115K	3x	as long as short
Polymarket Perps NBIS-USDshort	+0.0050%	1h	232.24	−0.034%	$138K	$473K	10x
Ondo Perps NBIS-USD.P	+0.0050%	1h	232.29	−0.013%	$151K	$548K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.07	−0.108%	$478K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.27	−0.022%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.23	−0.039%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0113%	1h	232.24	−0.034%	$54.6M	$21.1M	10x	as long as short
SoDEX NBIS-USD	+0.0153%	1h	232.30	−0.009%	$79	$20K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	231.92	−0.172%	$351K	$815K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0222%	1h	232.29	−0.012%	$23K	$15K	20x	as long as short
Phoenix NBIS	+0.0242%	1h	232.31	−0.004%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0264%	1h	232.24	−0.034%	$939K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0395%	1h	232.03	−0.125%	$10.1M	$3.2M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0785%	1h	232.21	−0.047%	$34K	$49K	10x	as long as short