Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.016%

Price spread now: Phemex against Extended+0.068%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1171.170% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)−0.200%−$20 · spread now +0.068%, 7d avg +0.048%

Together, before fees−0.289%+ Points / potential airdropExtended: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.048%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended NBIS-USD	231.14	0.0064	pay 0.0008% / 1h	56m 17s	$145K	$856K	10x
Short	Phemex NBISUSDT	231.30	0	get 0.0000% / 8h	6h 56m	$1.6M	$971K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$13.44
Price spread: +0.068% → +0.048%: $1.99
Slippage, 4 orders: −$100.02
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$128.47
Costs to cover: 1.170%
Break-even: never at this rate

Slippage from Extended: live order book, 37 min ago; Phemex: live order book, 2 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 Extended live order book, 37 min ago	1.98 bp	12.2 bp −$12	97.2 bp −$972	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	4.55 bp	41.1 bp −$41	doesn't fit	doesn't fit	doesn't fit

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	−0.0051%	8h	231.20	+0.024%	$2.3M	$4.6M	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.14	−0.002%	$3.3M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.26	+0.050%	$2.7M	$5.0M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.37	−0.334%	$2.8M	$601K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	231.17	+0.011%	$1K	$1.6M	10x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	231.30	+0.068%	$1.6M	$971K	10x
Aster NBISUSDT	+0.0021%	8h	230.88	−0.114%	$74K	$320K	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.14	−0.002%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.18	+0.016%	$138K	$467K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.05	−0.040%	$149K	$538K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0054%	1h	231.18	+0.016%	$1.6M	$3.7M	10x	as long as short
BloFin NBIS-USDT	+0.0055%	8h	231.36	+0.094%	$202K	$215K	20x	as long as short
Extended NBIS-USDlong	+0.0064%	1h	231.14	long leg	$145K	$856K	10x
Binance NBISUSDT	+0.0065%	8h	231.32	+0.076%	$18.8M	$90.7M	25x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	230.78	−0.157%	$382K	$869K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.96	−0.079%	$468K	$104K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.13	−0.006%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.13	−0.007%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0121%	1h	230.97	−0.074%	$38K	$116K	3x	as long as short
HTX NBIS-USDT	+0.0191%	8h	230.95	−0.084%	$13K	$62K	20x	as long as short
Bybit NBISUSDT	+0.0202%	8h	231.20	+0.024%	$4.9M	$6.8M	50x	as long as short
Arcus NBIS-USD	+0.0257%	1h	231.15	+0.003%	$42K	$124K	5x	as long as short
Phoenix NBIS	+0.0277%	1h	230.93	−0.092%	$7K	$127K	10x	as long as short
edgeX NBISUSDC	+0.0315%	4h	230.90	−0.106%	$37K	$226K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0341%	1h	231.25	+0.046%	$54.3M	$22.0M	10x	as long as short
Lighter NBIS	+0.0352%	1h	231.25	+0.046%	$934K	$4.0M	10x	as long as short
SoDEX NBIS-USD	+0.0432%	1h	231.19	+0.020%	$74	$20K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0529%	1h	231.10	−0.019%	$34K	$50K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0768%	1h	231.20	+0.026%	$22K	$16K	20x	as long as short
Entropy io:NBIS	+0.0788%	1h	230.87	−0.118%	$10.1M	$3.2M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0817%	8h	230.41	−0.317%	$5K	$114K	10x	as long as short