Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0631%/8h= +69.1% APRpaid last 24h +0.012%

Price spread now: QFEX against Bitget−0.013%7-day average −0.050% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$460.455% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.036%−$4 on $10k

Price spread, last 7 days−0.036%−$4 · spread now −0.013%, 7d avg −0.050%

Together, before fees−0.072%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and QFEX is 0.037% dearer against Bitget than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.050%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.036% in total (about -3.6% 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	230.89	−0.0575	get 0.0575% / 8h	1h 16m	$2.3M	$4.5M	20x
Short	QFEX NBIS-USD	230.86	0.0056	get 0.0007% / 1h	16m 25s	$1.5M	$3.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $132.44
Price spread: −0.013% → −0.050%: $3.73
Slippage, 4 orders: −$23.53
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: $90.64
Costs to cover: 0.455%
Break-even: 2.2 days

Slippage from Bitget: live order book, 2 min ago; QFEX: live order book, 7 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	2.38 bp	15.9 bp −$16	16.5 bp −$165	22.9 bp −$2,286	doesn't fit
Sell QFEX live order book, 7 min ago	2.38 bp	8.6 bp −$9	12.4 bp −$124	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 NBISUSDTlong	−0.0575%	8h	230.89	long leg	$2.3M	$4.5M	20x
Aster NBISUSDT	0.0000%	8h	230.74	−0.067%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.74	−0.063%	$149K	$635K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.86	−0.011%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.78	−0.048%	$4.9M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.67	−0.095%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.89	0.000%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.92	+0.013%	$2.8M	$601K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.86	−0.013%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.98	+0.039%	$968	$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	231.03	+0.061%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.96	+0.030%	$1.6M	$964K	10x	as long as short
BloFin NBIS-USDT	+0.0009%	8h	230.99	+0.043%	$203K	$205K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0010%	1h	230.85	−0.017%	$34K	$49K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.75	−0.061%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.78	−0.048%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.72	−0.074%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.88	−0.004%	$111	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.92	+0.013%	$151K	$544K	10x	as long as short
Nado NBIS-PERP	+0.0055%	1h	230.66	−0.098%	$37K	$115K	3x	as long as short
QFEX NBIS-USDshort	+0.0056%	1h	230.86	−0.013%	$1.5M	$3.8M	10x
tradeXYZ xyz:NBIS	+0.0076%	1h	230.75	−0.061%	$54.3M	$21.0M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.72	−0.074%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.98	+0.039%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.85	−0.016%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.39	−0.217%	$351K	$812K	10x	as long as short
Lighter NBIS	+0.0184%	1h	230.76	−0.056%	$953K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.85	−0.017%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0359%	1h	230.82	−0.030%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0684%	1h	230.88	−0.003%	$23K	$15K	20x	as long as short
edgeX NBISUSDC	+0.0873%	4h	230.77	−0.050%	$37K	$227K	10x	as long as short