Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.091%

Price spread now: Bitget against Coinbase International+0.679%7-day average −0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs+$32as in the Price arb table

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

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.344%−$34 on $10k

Price spread, last 3 days (all we have)−0.822%−$82 · spread now +0.679%, 7d avg −0.095%

Together, before fees−1.166%−$117 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.774% dearer against Coinbase International than usual: you sell high and buy low (spread +0.679% now, against its 7-day average of −0.095%): +$77 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 5 months. At the pace of the last 7 days (−0.344% in total) that is about 16 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	234.10	0.0016	pay 0.0002% / 1h	50m 50s	$359K	$678K	10x
Short	Bitget NBISUSDT	235.69	0	get 0.0000% / 8h	7h 50m	$2.5M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.679%Rate

Funding earned: −$3.36
Price spread: +0.679% → −0.095%: $77.38
Slippage, 4 orders: −$23.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $28.49
Costs to cover: 0.455%
Break-even: from the start

Slippage from Coinbase International: live order book, 22 min ago; Bitget: live order book, 2 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, 22 min ago	3.20 bp	9.4 bp −$9	20.7 bp −$207	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.55 bp	12.7 bp −$13	24.5 bp −$245	41.2 bp −$4,116	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.72	+0.692%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.70	+0.683%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.69	+0.679%	$2.8M	$5.1M	50x	as long as short
Bitget NBISUSDTshort	0.0000%	8h	235.69	+0.679%	$2.5M	$4.7M	20x
SunX NBIS-USDT	0.0000%	8h	236.08	+0.846%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.83	+0.739%	$15K	$113K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.93	+0.782%	$1.6M	$973K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0005%	1h	235.78	+0.718%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0016%	1h	234.10	long leg	$359K	$678K	10x
QFEX NBIS-USD	+0.0038%	1h	235.96	+0.795%	$1.5M	$5.1M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	236.14	+0.871%	—	$234K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.58	+0.632%	$175K	$507K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.68	+0.675%	$486K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.91	+0.773%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.57	+0.203%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0171%	1h	235.90	+0.768%	$29K	$63K	3x	as long as short
Variational Omni NBIS	+0.0198%	8h	236.05	+0.834%	$2.9M	$817K	—	as long as short
Bybit NBISUSDT	+0.0212%	8h	235.75	+0.705%	$5.1M	$6.5M	50x	as long as short
Aster NBISUSDT	+0.0214%	8h	235.80	+0.725%	$82K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0227%	8h	236.08	+0.846%	$206K	$213K	20x	as long as short
Extended NBIS-USD	+0.0232%	1h	235.72	+0.692%	$137K	$733K	10x	as long as short
Binance NBISUSDT	+0.0234%	8h	235.74	+0.700%	$19.5M	$86.1M	25x	as long as short
Lighter NBIS	+0.0352%	1h	235.97	+0.799%	$929K	$4.4M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0352%	8h	235.50	+0.598%	$5K	$137K	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.50	+0.598%	$44K	$134K	5x	as long as short
Phoenix NBIS	+0.0409%	1h	235.65	+0.662%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0480%	4h	235.50	+0.599%	$38K	$228K	10x	as long as short
SoDEX NBIS-USD	+0.0715%	1h	235.92	+0.777%	$5	$20K	10x	as long as short
Entropy io:NBIS	+0.0805%	1h	235.62	+0.649%	$10.3M	$3.4M	10x	as long as short
Polymarket Perps NBIS-USD	+0.1201%	1h	236.05	+0.833%	$140K	$430K	10x	as long as short
tradeXYZ xyz:NBIS	+0.1269%	1h	235.81	+0.730%	$55.1M	$23.6M	10x	as long as short