Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0182%/8h= −19.9% APRpaid last 24h −0.033%

Price spread now: BloFin against Kraken Futures+0.146%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on BloFin

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

The price spread pays, funding is against you. BloFin is 0.146% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.146% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NBISUSD	233.79	0.0369	pay 0.0046% / 1h	42m 57s	$22K	$11K	20x
Short	BloFin NBIS-USDT	234.13	0.0188	get 0.0188% / 8h	5h 42m	$208K	$217K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$38.14
Price spread: +0.146% → 0.000%: $14.55
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$45.59
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; BloFin: live order book, 62 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell BloFin live order book, 62 min ago	2.17 bp	9.6 bp −$10	20.1 bp −$201	doesn't fit	doesn't fit

Kraken Futures: 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 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
Deribit NBIS_USDC-PERPETUAL	−0.0049%	1h	233.91	+0.051%	$35K	$49K	10x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.07	+0.120%	$3.3M	$16.6M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.05	+0.111%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.13	+0.146%	$2.3M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.59	−0.085%	$1K	$1.4M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.87	+0.034%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.14	+0.150%	$1.6M	$969K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.13	+0.146%	—	$250K	5x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.37	−0.180%	$152K	$532K	10x	as long as short
QFEX NBIS-USD	+0.0058%	1h	233.88	+0.039%	$1.6M	$3.6M	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NBISUSDTM	+0.0100%	8h	233.95	+0.069%	$475K	$186K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.94	+0.064%	$2K	$3K	10x	as long as short
Bybit NBISUSDT	+0.0104%	8h	234.15	+0.154%	$5.4M	$7.0M	50x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.06	+0.114%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	234.06	+0.116%	$383K	$883K	10x	as long as short
Variational Omni NBIS	+0.0111%	8h	233.75	−0.019%	$2.9M	$646K	—	as long as short
Polymarket Perps NBIS-USD	+0.0114%	1h	233.98	+0.081%	$134K	$476K	10x	as long as short
Aster NBISUSDT	+0.0145%	8h	234.42	+0.270%	$81K	$314K	50x	as long as short
Extended NBIS-USD	+0.0176%	1h	233.94	+0.063%	$149K	$842K	10x	as long as short
Binance NBISUSDT	+0.0180%	8h	234.11	+0.135%	$20.5M	$91.5M	25x	as long as short
BloFin NBIS-USDTshort	+0.0188%	8h	234.13	+0.146%	$208K	$217K	20x
Nado NBIS-PERP	+0.0222%	1h	233.98	+0.083%	$38K	$85K	3x	as long as short
edgeX NBISUSDC	+0.0334%	4h	233.78	−0.003%	$31K	$234K	10x	as long as short
Kraken Futures PF_NBISUSDlong	+0.0369%	1h	233.79	long leg	$22K	$11K	20x
Lighter NBIS	+0.0376%	1h	234.20	+0.175%	$946K	$3.8M	10x	as long as short
Phoenix NBIS	+0.0377%	1h	233.68	−0.047%	$7K	$127K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0384%	1h	234.14	+0.150%	$55.4M	$19.2M	10x	as long as short
Arcus NBIS-USD	+0.0413%	1h	233.98	+0.081%	$42K	$119K	5x	as long as short
SoDEX NBIS-USD	+0.0465%	1h	233.83	+0.017%	$80	$19K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0560%	8h	234.24	+0.193%	$4K	$101K	10x	as long as short
Entropy io:NBIS	+0.0761%	1h	233.96	+0.073%	$10.2M	$3.0M	10x	as long as short