Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0242%/8h= +26.5% APRpaid last 24h +0.012%

Price spread now: Binance against Deribit+0.040%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Binance is 0.040% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NBIS_USDC-PERPETUAL	233.39	0	get 0.0000% / 1h	40m 11s	$35K	$48K	10x
Short	Binance NBISUSDT	233.48	0.0242	get 0.0242% / 8h	6h 40m	$19.2M	$85.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.040%Rate

Funding earned: $50.76
Price spread: +0.040% → 0.000%: $3.96
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $37.71
Costs to cover: 0.170%
Break-even: 1.8 days

Slippage unknown: Deribit: no order-book sample; Binance: live order book, 2 min ago. Net counts fees only.

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 Deribit no order-book sample	—	—	—	—	—
Sell Binance live order book, 2 min ago	0.21 bp	9.1 bp −$9	24.6 bp −$246	88.6 bp −$8,863	doesn't fit

Deribit: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bybit NBISUSDT	0.0000%	8h	233.48	+0.039%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.45	+0.026%	$3.4M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.49	+0.043%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.43	+0.017%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.61	+0.094%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUALlong	0.0000%	1h	233.39	long leg	$35K	$48K	10x
HTX NBIS-USDT	0.0000%	8h	233.78	+0.167%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.49	+0.043%	$1.6M	$972K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.40	+0.004%	$1.5M	$4.7M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.50	+0.047%	$42K	$132K	5x	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	233.51	+0.051%	—	$226K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.38	−0.004%	$148K	$468K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.42	+0.013%	$93	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.39	0.000%	$163K	$500K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0062%	8h	233.77	+0.161%	$5K	$130K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.35	−0.017%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.47	+0.034%	$481K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.47	+0.034%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.43	+0.015%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.140%	$386K	$721K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0126%	1h	233.38	−0.004%	$54.7M	$22.9M	10x	as long as short
Nado NBIS-PERP	+0.0166%	1h	233.46	+0.029%	$67K	$94K	3x	as long as short
Aster NBISUSDT	+0.0220%	8h	233.71	+0.138%	$81K	$314K	50x	as long as short
Variational Omni NBIS	+0.0223%	8h	233.46	+0.029%	$2.8M	$570K	—	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.279%	$207K	$209K	20x	as long as short
Extended NBIS-USD	+0.0240%	1h	233.45	+0.024%	$150K	$705K	10x	as long as short
Binance NBISUSDTshort	+0.0242%	8h	233.48	+0.040%	$19.2M	$85.1M	25x
Lighter NBIS	+0.0288%	1h	233.52	+0.056%	$902K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.04	+0.279%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0339%	4h	233.68	+0.124%	$38K	$225K	10x	as long as short
Entropy io:NBIS	+0.0364%	1h	233.67	+0.120%	$10.2M	$3.4M	10x	as long as short