Funding you earn now, next payment 04:00 UTC+0.0239%/8h= +26.1% APRpaid last 24h +0.083%
Price spread now: Phoenix against Bybit−0.060%95s7-day average +0.104% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$630.626% of the position
Funding, last 7 days+0.424%+$42 on $10k
+Price spread, last 4 days (all we have)+0.211%+$21 · spread now −0.060%, 7d avg +0.104%
=Funding pays, the price is against you. Phoenix is 0.164% cheaper against Bybit than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of +0.104%). If the spread goes back, that is −$16 on $10k: about 2.3 days of funding at the current rate (+$7 a day). The two prices were read 95 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit NBISUSDT | 232.39 | 0 | get 0.0000% / 8h | 3h 05m | $5.0M | $6.4M | 50x |
| Short | Phoenix NBIS | 232.25 | 0.0239 | get 0.0030% / 1h | 5m 52s | $7K | $150K | 10x |
Bybit NBISUSDT
Phoenix NBISFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $50.14
- Price spread: −0.060% → +0.104%
- −$16.37
- Slippage, 4 orders
- −$44.58
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$28.82
- Costs to cover
- 0.626%
- Break-even
- 11.0 days
Slippage from Bybit: live order book, 2 min ago; Phoenix: live order book, 40 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, 2 min ago | 1.29 bp | 10.0 bp −$10 | 68.1 bp −$681 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 40 min ago | 5.12 bp | 15.9 bp −$16 | 34.5 bp −$345 | 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 | |
|---|---|---|---|---|---|---|---|---|
| BloFin NBIS-USDT | −0.0014% | 8h | 232.20 | −0.082% | $206K | $204K | 20x | as long as short |
| Aster NBISUSDT | 0.0000% | 8h | 232.50 | +0.047% | $78K | $310K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 232.24 | −0.064% | $146K | $599K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 232.30 | −0.039% | $18.9M | $85.6M | 25x | as long as short |
| Bybit NBISUSDTlong | 0.0000% | 8h | 232.39 | long leg | $5.0M | $6.4M | 50x | |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 232.33 | −0.026% | $3.4M | $16.1M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 232.39 | 0.000% | $2.7M | $5.1M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 232.43 | +0.017% | $2.4M | $4.5M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 232.62 | +0.101% | $2.9M | $552K | — | as long as short |
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 231.97 | −0.181% | $5K | $118K | 10x | as long as short |
BloFin NBIS-USDT
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
Variational Omni NBIS
GRVT NBIS_USDT_PerpShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX NBIS-USDT | 0.0000% | 8h | 232.66 | +0.116% | $940 | $1.6M | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 232.16 | −0.099% | $15K | $60K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 232.50 | +0.047% | $1.6M | $956K | 10x | as long as short |
| Nado NBIS-PERP | +0.0009% | 1h | 232.56 | +0.073% | $38K | $115K | 3x | as long as short |
| QFEX NBIS-USD | +0.0034% | 1h | 232.57 | +0.077% | $1.5M | $4.0M | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 232.17 | −0.095% | $42K | $132K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 232.57 | +0.077% | — | $217K | 5x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0049% | 1h | 232.69 | +0.131% | $23K | $15K | 20x | as long as short |
| tradeXYZ xyz:NBIS | +0.0050% | 1h | 232.26 | −0.056% | $54.1M | $20.2M | 10x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 232.59 | +0.086% | $143K | $459K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 232.37 | −0.009% | $93 | $21K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 232.08 | −0.133% | $160K | $507K | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 232.30 | −0.039% | $479K | $20K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 232.63 | +0.103% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 232.57 | +0.079% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0104% | 1h | 232.30 | −0.039% | $361K | $771K | 10x | as long as short |
| Lighter NBIS | +0.0200% | 1h | 232.52 | +0.056% | $918K | $4.0M | 10x | as long as short |
| Phoenix NBISshort | +0.0239% | 1h | 232.25 | −0.060% | $7K | $150K | 10x | |
| Entropy io:NBIS | +0.0294% | 1h | 232.39 | 0.000% | $10.1M | $3.2M | 10x | as long as short |
| edgeX NBISUSDC | +0.0317% | 4h | 231.93 | −0.197% | $37K | $226K | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUAL | +0.0524% | 1h | 232.69 | +0.129% | $35K | $49K | 10x | as long as short |
SunX NBIS-USDT
HTX NBIS-USDT
Phemex NBISUSDT
Nado NBIS-PERP
QFEX NBIS-USD
Arcus NBIS-USD
Vest NBIS-USD-PERP
Kraken Futures PF_NBISUSD
tradeXYZ xyz:NBIS
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
Lighter NBIS
Entropy io:NBIS
edgeX NBISUSDC
Deribit NBIS_USDC-PERPETUAL