Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0375%/8h= +41.0% APRpaid last 24h −0.101%

Price spread now: Lighter against edgeX+0.114%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.412%−$41 on $10k

Price spread, last 4 days (all we have)−0.165%−$17 · spread now +0.114%, 7d avg +0.060%

Together, before fees−0.578%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$58 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Lighter is 0.055% dearer against edgeX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.060%. Mind the row above: over the last 7 days funding on this pair cost −0.412%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NBISUSDC	232.80	0.0025	pay 0.0013% / 4h	43m 24s	$31K	$235K	10x
Short	Lighter NBIS	233.07	0.0400	get 0.0050% / 1h	43m 24s	$941K	$3.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.114%Rate

Funding earned: $78.72
Price spread: +0.114% → +0.060%: $5.48
Slippage, 4 orders: −$25.69
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $49.51
Costs to cover: 0.347%
Break-even: 2.6 days

Slippage from edgeX: live order book, 62 min ago; Lighter: live order book, 7 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 edgeX live order book, 62 min ago	4.28 bp	16.3 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.43 bp	0.7 bp −$1	2.7 bp −$27	51.4 bp −$5,139	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	233.01	+0.089%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.03	+0.097%	$2.7M	$4.8M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	232.94	+0.058%	$2.3M	$4.4M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.73	−0.032%	$1K	$1.4M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.71	−0.040%	$12K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.99	+0.080%	$1.6M	$968K	10x	as long as short
edgeX NBISUSDClong	+0.0025%	4h	232.80	long leg	$31K	$235K	10x
Kraken Futures PF_NBISUSD	+0.0039%	1h	232.92	+0.052%	$22K	$10K	20x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	232.79	−0.006%	$1K	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.10	+0.127%	$151K	$520K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0052%	1h	233.02	+0.093%	—	$250K	5x	as long as short
QFEX NBIS-USD	+0.0053%	1h	232.90	+0.041%	$1.6M	$3.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.75	−0.023%	$472K	$253K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.94	+0.058%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.72	−0.036%	—	—	10x	as long as short
Polymarket Perps NBIS-USD	+0.0108%	1h	232.95	+0.063%	$129K	$478K	10x	as long as short
Variational Omni NBIS	+0.0182%	8h	232.52	−0.124%	$2.9M	$623K	—	as long as short
Nado NBIS-PERP	+0.0184%	1h	232.79	−0.007%	$38K	$54K	3x	as long as short
BloFin NBIS-USDT	+0.0211%	8h	232.77	−0.015%	$209K	$216K	20x	as long as short
Aster NBISUSDT	+0.0213%	8h	233.19	+0.167%	$81K	$314K	50x	as long as short
Bybit NBISUSDT	+0.0219%	8h	233.21	+0.174%	$5.4M	$6.9M	50x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0224%	1h	234.06	+0.540%	$383K	$861K	10x	as long as short
Extended NBIS-USD	+0.0232%	1h	232.86	+0.026%	$147K	$1.0M	10x	as long as short
Binance NBISUSDT	+0.0236%	8h	233.03	+0.099%	$20.5M	$90.3M	25x	as long as short
GRVT NBIS_USDT_Perp	+0.0399%	8h	232.90	+0.043%	$5K	$101K	10x	as long as short
Lighter NBISshort	+0.0400%	1h	233.07	+0.114%	$941K	$3.7M	10x
tradeXYZ xyz:NBIS	+0.0411%	1h	233.11	+0.132%	$55.8M	$19.0M	10x	as long as short
Phoenix NBIS	+0.0444%	1h	232.80	−0.002%	$7K	$117K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0524%	1h	232.83	+0.011%	$36K	$50K	10x	as long as short
Entropy io:NBIS	+0.0694%	1h	232.89	+0.037%	$10.2M	$2.9M	10x	as long as short
Arcus NBIS-USD	+0.0870%	1h	232.89	+0.037%	$43K	$116K	5x	as long as short