Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.018%

Price spread now: Phemex against Bybit−0.004%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1161.161% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now −0.004%, 7d avg +0.015%

Together, before fees−0.166%−$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NBISUSDT	231.48	0	get 0.0000% / 8h	34m 15s	$4.9M	$6.8M	50x
Short	Phemex NBISUSDT	231.47	0	get 0.0000% / 8h	34m 15s	$1.6M	$970K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → +0.015%: −$1.93
Slippage, 4 orders: −$93.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$118.05
Costs to cover: 1.161%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Phemex: live order book, 4 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 Bybit live order book, 4 min ago	1.73 bp	11.1 bp −$11	65.5 bp −$655	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	3.03 bp	34.7 bp −$35	doesn't fit	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 NBISUSDT	−0.0440%	8h	231.43	−0.022%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.50	+0.011%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.44	−0.019%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.47	−0.004%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDTlong	0.0000%	8h	231.48	long leg	$4.9M	$6.8M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	231.36	−0.052%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.42	−0.026%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.134%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	−0.082%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	−0.052%	$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	231.29	−0.082%	$15K	$57K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	231.47	−0.004%	$1.6M	$970K	10x
BloFin NBIS-USDT	+0.0028%	8h	231.35	−0.056%	$203K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.12	−0.156%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.34	−0.060%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.17	−0.134%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.32	−0.069%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.06	−0.181%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.471%	$353K	$810K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.10	−0.164%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.43	−0.022%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.42	−0.024%	—	—	10x	as long as short
SoDEX NBIS-USD	+0.0109%	1h	231.37	−0.048%	$102	$20K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0150%	1h	231.32	−0.069%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0180%	1h	231.18	−0.128%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.151%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	−0.079%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0352%	1h	231.43	−0.022%	$933K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0437%	1h	231.10	−0.164%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.41	−0.031%	$23K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0701%	1h	231.56	+0.035%	$34K	$49K	10x	as long as short