Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0342%/8h= −37.5% APRpaid last 24h −0.002%

Price spread now: KuCoin against Deribit−0.065%7-day average — · you buy dearer than you sell

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

Long on Deribit Short on KuCoin

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 against this trade now: funding costs −$10 a day on $10k at the current rate, and KuCoin is 0.065% cheaper against Deribit than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NBIS_USDC-PERPETUAL	231.36	0.0442	pay 0.0055% / 1h	32m 39s	$34K	$49K	10x
Short	KuCoin NBISUSDTM	231.21	0.0100	get 0.0100% / 8h	32m 39s	$477K	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$71.83
Price spread: −0.065% → 0.000%: −$6.48
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$97.31
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; KuCoin: live order book, 71 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 KuCoin live order book, 71 min ago	23.88 bp	62.1 bp −$62	doesn't fit	doesn't fit	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
Bitget NBISUSDT	−0.0426%	8h	231.44	+0.035%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.39	+0.013%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.40	+0.017%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.47	+0.046%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.35	−0.004%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.35	−0.004%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.42	+0.026%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.082%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.32	−0.017%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	0.000%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.45	+0.039%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.36	0.000%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDT	+0.0011%	8h	231.41	+0.022%	$204K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.19	−0.073%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.49	+0.056%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.30	−0.026%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.36	0.000%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.25	−0.048%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.419%	$353K	$805K	10x	as long as short
KuCoin NBISUSDTMshort	+0.0100%	8h	231.21	−0.065%	$477K	$20K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.43	+0.030%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.32	−0.015%	—	—	10x	as long as short
SoDEX NBIS-USD	+0.0116%	1h	231.36	0.000%	$97	$20K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0149%	1h	231.28	−0.035%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0173%	1h	231.14	−0.094%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.099%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	−0.028%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0344%	1h	231.43	+0.030%	$933K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0440%	1h	231.25	−0.048%	$10.1M	$3.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUALlong	+0.0442%	1h	231.36	long leg	$34K	$49K	10x
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.37	+0.005%	$23K	$15K	20x	as long as short