Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.078%

Price spread now: OKX against Coinbase International+0.193%7-day average −0.103% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.427%−$43 on $10k

Price spread, last 3 days (all we have)−0.347%−$35 · spread now +0.193%, 7d avg −0.103%

Together, before fees−0.774%−$77 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.296% dearer against Coinbase International than usual: you sell high and buy low (spread +0.193% now, against its 7-day average of −0.103%): +$30 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NBIS-PERP-INTX	233.53	0.0104	pay 0.0013% / 1h	47m 51s	$382K	$712K	10x
Short	OKX NBIS-USDT-SWAP	233.98	0	get 0.0000% / 8h	5h 47m	$3.4M	$16.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.193%Rate

Funding earned: −$21.84
Price spread: +0.193% → −0.103%: $29.55
Slippage, 4 orders: −$25.39
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$37.68
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 15 min ago; OKX: live order book, 1 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, 15 min ago	9.19 bp	14.2 bp −$14	19.4 bp −$194	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	1.07 bp	8.2 bp −$8	22.4 bp −$224	doesn't fit	doesn't fit

NBIS on 30 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	−0.0014%	1h	233.93	+0.172%	$67K	$95K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	234.04	+0.218%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	233.98	+0.193%	$3.4M	$16.2M	25x
Gate NBIS_USDT	0.0000%	8h	234.08	+0.236%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.02	+0.210%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.25	+0.310%	$5K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.06	+0.227%	$903	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.19	+0.283%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.00	+0.201%	$1.6M	$966K	10x	as long as short
QFEX NBIS-USD	+0.0023%	1h	233.99	+0.197%	$1.5M	$4.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	233.96	+0.184%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.20	+0.287%	—	$215K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0049%	1h	233.92	+0.167%	$35K	$48K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	233.95	+0.180%	$54.6M	$19.7M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.95	+0.180%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.00	+0.201%	$28	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.09	+0.240%	$163K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.96	+0.184%	$482K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.96	+0.184%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.94	+0.174%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTXlong	+0.0104%	1h	233.53	long leg	$382K	$712K	10x
Variational Omni NBIS	+0.0121%	8h	234.14	+0.261%	$2.8M	$569K	—	as long as short
Aster NBISUSDT	+0.0137%	8h	234.23	+0.300%	$81K	$307K	50x	as long as short
Extended NBIS-USD	+0.0144%	1h	233.95	+0.180%	$147K	$698K	10x	as long as short
Binance NBISUSDT	+0.0148%	8h	234.00	+0.203%	$19.1M	$84.6M	25x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	233.96	+0.183%	$23K	$15K	20x	as long as short
Lighter NBIS	+0.0232%	1h	234.02	+0.210%	$903K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	234.23	+0.300%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0417%	1h	234.04	+0.218%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0894%	4h	234.14	+0.260%	$38K	$226K	10x	as long as short