Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.048%

Price spread now: Binance against Coinbase International−0.093%7-day average −0.115% · you buy dearer than you sell

Net, funding: paid 7d − costs−$83as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$460.458% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.374%−$37 on $10k

Price spread, last 4 days (all we have)−0.271%−$27 · spread now −0.093%, 7d avg −0.115%

Together, before fees−0.645%−$64 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.022% dearer against Coinbase International than usual: you sell high and buy low (spread −0.093% now, against its 7-day average of −0.115%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 4.5 days. At the pace of the last 7 days (−0.374% in total) that is about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	235.56	0.0056	pay 0.0007% / 1h	12m 37s	$389K	$724K	10x
Short	Binance NBISUSDT	235.34	0.0040	get 0.0040% / 8h	4h 12m	$19.4M	$84.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.093%Rate

Funding earned: −$3.44
Price spread: −0.093% → −0.115%: $2.19
Slippage, 4 orders: −$25.79
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$47.04
Costs to cover: 0.458%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 46 min ago; Binance: live order book, 15 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 Coinbase International live order book, 46 min ago	6.79 bp	15.2 bp −$15	18.4 bp −$184	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	0.85 bp	9.5 bp −$9	28.6 bp −$286	101.1 bp −$10.1K	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
Nado NBIS-PERP	−0.0069%	1h	235.08	−0.204%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.44	−0.051%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.28	−0.119%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.31	−0.106%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.34	−0.093%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	235.25	−0.132%	$2.9M	$561K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.29	−0.115%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.39	−0.072%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.24	−0.136%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.40	−0.068%	$1.6M	$955K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX NBISUSDC	+0.0029%	4h	235.20	−0.153%	$38K	$227K	10x	as long as short
BloFin NBIS-USDT	+0.0029%	8h	235.38	−0.076%	$207K	$205K	20x	as long as short
Aster NBISUSDT	+0.0034%	8h	235.33	−0.097%	$79K	$310K	50x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.26	−0.127%	$1.5M	$4.2M	10x	as long as short
Binance NBISUSDTshort	+0.0040%	8h	235.34	−0.093%	$19.4M	$84.5M	25x
Extended NBIS-USD	+0.0040%	1h	235.28	−0.121%	$150K	$701K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.18	−0.161%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.50	−0.025%	—	$216K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.24	−0.136%	$54.8M	$19.9M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.23	−0.140%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.29	−0.115%	$47	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.24	−0.136%	$161K	$503K	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0056%	1h	235.56	long leg	$389K	$724K	10x
KuCoin NBISUSDTM	+0.0100%	8h	235.08	−0.204%	$484K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.22	−0.144%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.17	−0.167%	—	—	10x	as long as short
Lighter NBIS	+0.0136%	1h	235.27	−0.123%	$903K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.26	−0.127%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0411%	1h	235.24	−0.136%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.26	−0.127%	$24K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0516%	1h	235.21	−0.149%	$35K	$48K	10x	as long as short