Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h −0.027%

Price spread now: OKX against Deribit+0.021%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 OKX

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.021% dearer against Deribit than usual: you sell high and buy low, +$2 on $10k if it 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	233.99	0.0006	pay 0.0001% / 1h	46m 13s	$35K	$48K	10x
Short	OKX NBIS-USDT-SWAP	234.04	0	get 0.0000% / 8h	5h 46m	$3.4M	$16.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$1.36
Price spread: +0.021% → 0.000%: $2.14
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$16.23
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Deribit: no order-book sample; OKX: 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 OKX live order book, 2 min ago	1.07 bp	8.2 bp −$8	22.4 bp −$224	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
Nado NBIS-PERP	−0.0021%	1h	233.96	−0.013%	$67K	$95K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	234.07	+0.034%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	234.04	+0.021%	$3.4M	$16.2M	25x
Gate NBIS_USDT	0.0000%	8h	234.09	+0.043%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.07	+0.034%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.25	+0.113%	$5K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.07	+0.034%	$988	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.04	+0.021%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.10	+0.047%	$1.6M	$966K	10x	as long as short
Deribit NBIS_USDC-PERPETUALlong	+0.0006%	1h	233.99	long leg	$35K	$48K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0023%	1h	234.07	+0.034%	$1.5M	$4.4M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.94	−0.021%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.25	+0.111%	—	$215K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	234.01	+0.009%	$54.6M	$19.7M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.01	+0.009%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.04	+0.021%	$23	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.91	−0.034%	$163K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.01	+0.009%	$482K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.00	+0.004%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.00	+0.005%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.197%	$382K	$712K	10x	as long as short
Variational Omni NBIS	+0.0121%	8h	234.14	+0.064%	$2.8M	$569K	—	as long as short
Aster NBISUSDT	+0.0133%	8h	234.20	+0.090%	$81K	$307K	50x	as long as short
Binance NBISUSDT	+0.0143%	8h	234.09	+0.041%	$19.1M	$84.7M	25x	as long as short
Extended NBIS-USD	+0.0144%	1h	234.02	+0.012%	$146K	$703K	10x	as long as short
BloFin NBIS-USDT	+0.0151%	8h	234.01	+0.009%	—	$204K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	233.97	−0.010%	$23K	$15K	20x	as long as short
Lighter NBIS	+0.0232%	1h	234.09	+0.043%	$903K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	234.23	+0.103%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0410%	1h	234.05	+0.026%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0722%	4h	233.94	−0.021%	$38K	$227K	10x	as long as short