Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.082%

Price spread now: Coinbase International against HTX−0.427%7-day average +0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$540.540% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.496%+$50 on $10k

Price spread, last 3 days (all we have)+0.593%+$59 · spread now −0.427%, 7d avg +0.078%

Together, before fees+1.089%+$109 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.505% cheaper against HTX than usual: you would sell low and buy high (spread −0.427% now, against its 7-day average of +0.078%). If the spread goes back, that is −$51 on $10k: about 23 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.496% in total) that is about 7.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NBIS-USDT	233.99	0	get 0.0000% / 8h	1h 23m	$15K	$115K	20x
Short	Coinbase International NBIS-PERP-INTX	232.99	0.0072	get 0.0009% / 1h	23m 38s	$356K	$697K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.427%Rate

Funding earned: $15.12
Price spread: −0.427% → +0.078%: −$50.53
Slippage, 4 orders: −$31.96
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$89.36
Costs to cover: 0.540%
Break-even: 48.4 days

Slippage from HTX: live order book, 57 min ago; Coinbase International: live order book, 60 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 HTX live order book, 57 min ago	0.86 bp	11.2 bp −$11	29.5 bp −$295	doesn't fit	doesn't fit
Sell Coinbase International live order book, 60 min ago	10.50 bp	15.5 bp −$16	22.9 bp −$229	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
Bybit NBISUSDT	0.0000%	8h	233.95	−0.017%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.94	−0.021%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.97	−0.009%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.98	−0.004%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.08	+0.038%	$1K	$1.8M	10x	as long as short
HTX NBIS-USDTlong	0.0000%	8h	233.99	long leg	$15K	$115K	20x
Phemex NBISUSDT	0.0000%	8h	234.02	+0.013%	$1.6M	$967K	10x	as long as short
Variational Omni NBIS	+0.0016%	8h	233.98	−0.004%	$2.8M	$825K	—	as long as short
QFEX NBIS-USD	+0.0038%	1h	233.96	−0.013%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.95	−0.017%	$44K	$133K	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	234.06	+0.030%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.02	+0.013%	$148K	$657K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.97	−0.009%	$14	$20K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0062%	8h	233.98	−0.004%	$5K	$144K	10x	as long as short
Extended NBIS-USD	+0.0064%	1h	233.96	−0.012%	$142K	$697K	10x	as long as short
Aster NBISUSDT	+0.0066%	8h	233.95	−0.018%	$79K	$304K	50x	as long as short
Binance NBISUSDT	+0.0070%	8h	234.01	+0.008%	$19.4M	$86.9M	25x	as long as short
Coinbase International NBIS-PERP-INTXshort	+0.0072%	1h	232.99	−0.427%	$356K	$697K	10x
Ondo Perps NBIS-USD.P	+0.0078%	1h	233.92	−0.030%	$174K	$499K	10x	as long as short
BloFin NBIS-USDT	+0.0084%	8h	234.13	+0.060%	$206K	$214K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0092%	1h	233.97	−0.009%	$35K	$47K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.75	−0.103%	$481K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.01	+0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.02	+0.012%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0189%	1h	233.96	−0.013%	$54.6M	$23.5M	10x	as long as short
Lighter NBIS	+0.0208%	1h	234.03	+0.017%	$936K	$4.6M	10x	as long as short
Nado NBIS-PERP	+0.0235%	1h	233.92	−0.030%	$28K	$63K	3x	as long as short
Entropy io:NBIS	+0.0303%	1h	233.95	−0.017%	$10.2M	$3.3M	10x	as long as short
Phoenix NBIS	+0.0343%	1h	234.01	+0.009%	$7K	$185K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0346%	1h	233.87	−0.051%	$24K	$13K	20x	as long as short
edgeX NBISUSDC	+0.0361%	4h	233.97	−0.010%	$37K	$233K	10x	as long as short