Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h −0.072%

Price spread now: Binance against Lighter+0.053%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$180.182% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.415%−$42 on $10k

Price spread, last 7 days−0.063%−$6 · spread now +0.053%, 7d avg −0.007%

Together, before fees−0.478%+ Points / potential airdropLighter: Season 3 · farm board−$48 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.060% dearer against Lighter than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of −0.007%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.5 days. At the pace of the last 7 days (−0.415% in total) that is about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	235.43	0.0104	pay 0.0013% / 1h	36m 07s	$898K	$4.0M	10x
Short	Binance NBISUSDT	235.55	0.0077	get 0.0077% / 8h	4h 36m	$19.4M	$84.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.053%Rate

Funding earned: −$5.64
Price spread: +0.053% → −0.007%: $6.02
Slippage, 4 orders: −$8.24
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$17.86
Costs to cover: 0.182%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Binance: live order book, 7 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, 6 min ago	0.42 bp	0.6 bp −$1	2.3 bp −$23	50.9 bp −$5,094	doesn't fit
Sell Binance live order book, 7 min ago	0.21 bp	7.4 bp −$7	21.8 bp −$218	75.4 bp −$7,539	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
Nado NBIS-PERP	−0.0139%	1h	235.51	+0.034%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.52	+0.038%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.56	+0.055%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.54	+0.047%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.54	+0.047%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.75	+0.136%	$5K	$119K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.55	+0.051%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.58	+0.064%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.54	+0.047%	$1.6M	$956K	10x	as long as short
Variational Omni NBIS	+0.0027%	8h	235.51	+0.033%	$2.9M	$563K	—	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	+0.0038%	1h	235.43	0.000%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.43	0.000%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.82	+0.166%	—	$216K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0048%	1h	235.34	−0.038%	$35K	$48K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.37	−0.025%	$54.9M	$19.8M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.37	−0.025%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.54	+0.047%	$9	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.63	+0.085%	$161K	$504K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.35	−0.034%	$389K	$724K	10x	as long as short
Aster NBISUSDT	+0.0075%	8h	235.45	+0.009%	$79K	$310K	50x	as long as short
Binance NBISUSDTshort	+0.0077%	8h	235.55	+0.053%	$19.4M	$84.6M	25x
Extended NBIS-USD	+0.0080%	1h	235.45	+0.010%	$147K	$702K	10x	as long as short
edgeX NBISUSDC	+0.0082%	4h	235.58	+0.063%	$38K	$226K	10x	as long as short
BloFin NBIS-USDT	+0.0095%	8h	235.58	+0.064%	$207K	$205K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.31	−0.051%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.51	+0.034%	$2K	$3K	10x	as long as short
Lighter NBISlong	+0.0104%	1h	235.43	long leg	$898K	$4.0M	10x
Aevo NBIS-PERP	+0.0104%	1h	235.48	+0.021%	—	—	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.54	+0.047%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0410%	1h	235.54	+0.047%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.38	−0.019%	$24K	$15K	20x	as long as short