Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.058%

Price spread now: Bybit against Kraken Futures+0.130%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 Bybit

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. Bybit is 0.130% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.130% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 41 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NBISUSD	233.62	0.0370	pay 0.0046% / 1h	26m 52s	$22K	$11K	20x
Short	Bybit NBISUSDT	233.92	0.0117	get 0.0117% / 8h	5h 26m	$5.4M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.130%Rate

Funding earned: −$53
Price spread: +0.130% → 0.000%: $12.96
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$61.05
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago	1.50 bp	16.9 bp −$17	104.4 bp −$1,044	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
OKX NBIS-USDT-SWAP	0.0000%	8h	233.91	+0.125%	$3.3M	$16.6M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.85	+0.100%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.89	+0.117%	$2.3M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.83	+0.091%	$1K	$1.4M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.09	+0.202%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.90	+0.121%	$1.6M	$970K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.06	+0.189%	—	$250K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0050%	1h	233.78	+0.070%	$35K	$49K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.84	+0.095%	$152K	$533K	10x	as long as short
QFEX NBIS-USD	+0.0058%	1h	233.88	+0.112%	$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	233.61	−0.003%	$474K	$205K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.89	+0.117%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.89	+0.119%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	234.06	+0.189%	$383K	$870K	10x	as long as short
Variational Omni NBIS	+0.0117%	8h	233.61	−0.005%	$2.9M	$637K	—	as long as short
Bybit NBISUSDTshort	+0.0117%	8h	233.92	+0.130%	$5.4M	$7.0M	50x
Polymarket Perps NBIS-USD	+0.0129%	1h	233.88	+0.112%	$133K	$476K	10x	as long as short
Aster NBISUSDT	+0.0155%	8h	234.17	+0.235%	$81K	$314K	50x	as long as short
BloFin NBIS-USDT	+0.0160%	8h	233.93	+0.134%	$208K	$218K	20x	as long as short
Binance NBISUSDT	+0.0190%	8h	233.91	+0.125%	$20.6M	$91.4M	25x	as long as short
Extended NBIS-USD	+0.0192%	1h	233.84	+0.096%	$146K	$847K	10x	as long as short
Nado NBIS-PERP	+0.0194%	1h	233.74	+0.052%	$38K	$85K	3x	as long as short
SoDEX NBIS-USD	+0.0202%	1h	233.90	+0.121%	$94	$19K	10x	as long as short
Kraken Futures PF_NBISUSDlong	+0.0370%	1h	233.62	long leg	$22K	$11K	20x
Phoenix NBIS	+0.0377%	1h	234.06	+0.189%	$7K	$127K	10x	as long as short
Lighter NBIS	+0.0400%	1h	233.99	+0.160%	$949K	$3.8M	10x	as long as short
Arcus NBIS-USD	+0.0413%	1h	233.84	+0.095%	$42K	$119K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0416%	1h	233.92	+0.130%	$55.6M	$18.8M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0452%	8h	233.66	+0.019%	$5K	$101K	10x	as long as short
Entropy io:NBIS	+0.0737%	1h	233.79	+0.074%	$10.2M	$3.0M	10x	as long as short
edgeX NBISUSDC	+0.0824%	4h	233.88	+0.110%	$31K	$232K	10x	as long as short