NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0184%/8h= −20.1% APRnext payment −$0.23 per $10,000 · paid last 24h −0.061%

Price spread now: Arcus against Lighter−0.154%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$190.193% of the position

Long on Lighter Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.036%−$4 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.154%, 7d avg −0.072%

Together, before fees−0.036%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Arcus is 0.082% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.072%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.036% in total (about -3.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.23 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	233.41	0.0224	pay 0.0028% / 1h	14m 24s	$926K	$4.0M	10x
Short	Arcus NBIS-USD	233.05	0.0040	get 0.0005% / 1h	14m 24s	$42K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Lighter. 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 LighterbpFee ArcusbpOrdersPrice spread, now −0.154%Rate

Funding earned: −$38.58
Price spread: −0.154% → −0.072%: −$8.21
Slippage, 4 orders: −$14.82
Fee Lighter: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$66.11
Costs to cover: 0.193%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Arcus: live order book, 39 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 Lighter live order book, 3 min ago	0.43 bp	0.7 bp −$1	5.0 bp −$50	93.6 bp −$9,362	doesn't fit
Sell Arcus live order book, 39 min ago	3.41 bp	8.9 bp −$9	15.7 bp −$157	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
Aster NBISUSDT	0.0000%	8h	233.43	+0.007%	$78K	$310K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.31	−0.042%	$146K	$640K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	233.39	−0.007%	$19.0M	$85.2M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	233.42	+0.004%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.32	−0.039%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.35	−0.026%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.34	−0.030%	$2.3M	$4.5M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.10	−0.131%	$2.9M	$552K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.98	−0.185%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.31	−0.043%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.28	−0.056%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.51	+0.043%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.35	−0.026%	$1.6M	$954K	10x	as long as short
Nado NBIS-PERP	+0.0017%	1h	233.36	−0.020%	$38K	$115K	3x	as long as short
BloFin NBIS-USDT	+0.0030%	8h	233.30	−0.047%	$206K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0034%	1h	233.37	−0.017%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USDshort	+0.0040%	1h	233.05	−0.154%	$42K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	233.48	+0.030%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0049%	1h	233.26	−0.065%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	233.33	−0.034%	$54.4M	$20.1M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.33	−0.034%	$143K	$460K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.19	−0.094%	$107	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.35	−0.026%	$160K	$501K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.29	−0.051%	$481K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.35	−0.026%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.26	−0.066%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	232.88	−0.227%	$361K	$767K	10x	as long as short
edgeX NBISUSDC	+0.0114%	4h	232.90	−0.217%	$37K	$227K	10x	as long as short
Lighter NBISlong	+0.0224%	1h	233.41	long leg	$926K	$4.0M	10x
Phoenix NBIS	+0.0239%	1h	232.87	−0.231%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0301%	1h	233.24	−0.073%	$10.1M	$3.2M	10x	as long as short