Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0368%/8h= −40.3% APRpaid last 24h −0.073%

Price spread now: Bitget against Lighter−0.043%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$340.343% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.360%−$36 on $10k

Price spread, last 7 days+0.001%$0 · spread now −0.043%, 7d avg −0.019%

Together, before fees−0.358%+ Points / potential airdropLighter: Season 3 · farm board−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Bitget is 0.023% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	234.59	0.0368	pay 0.0046% / 1h	40m 13s	$934K	$4.6M	10x
Short	Bitget NBISUSDT	234.49	0	get 0.0000% / 8h	40m 13s	$2.5M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$77.28
Price spread: −0.043% → −0.019%: −$2.34
Slippage, 4 orders: −$22.3
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$113.91
Costs to cover: 0.343%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Bitget: live order book, 3 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, 2 min ago	0.21 bp	0.9 bp −$1	3.7 bp −$37	74.5 bp −$7,454	doesn't fit
Sell Bitget live order book, 3 min ago	1.92 bp	17.1 bp −$17	28.3 bp −$283	43.7 bp −$4,369	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	234.40	−0.081%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.49	−0.043%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.42	−0.072%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDTshort	0.0000%	8h	234.49	−0.043%	$2.5M	$4.8M	20x
SunX NBIS-USDT	0.0000%	8h	234.44	−0.064%	$910	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.38	−0.090%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	233.76	−0.354%	$358K	$676K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.46	−0.055%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.48	−0.047%	$1.6M	$968K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.50	−0.038%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	234.40	−0.081%	$147K	$706K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.43	−0.068%	$28	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.40	−0.081%	$1.5M	$5.1M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.28	−0.132%	$483K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.44	−0.064%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.46	−0.054%	—	—	10x	as long as short
Variational Omni NBIS	+0.0199%	8h	234.38	−0.091%	$2.9M	$821K	—	as long as short
Nado NBIS-PERP	+0.0202%	1h	234.34	−0.108%	$28K	$63K	3x	as long as short
Aster NBISUSDT	+0.0223%	8h	234.35	−0.103%	$79K	$306K	50x	as long as short
Extended NBIS-USD	+0.0232%	1h	234.38	−0.090%	$142K	$697K	10x	as long as short
BloFin NBIS-USDT	+0.0232%	8h	234.47	−0.051%	$205K	$214K	20x	as long as short
Binance NBISUSDT	+0.0236%	8h	234.48	−0.046%	$19.4M	$86.4M	25x	as long as short
Ondo Perps NBIS-USD.P	+0.0236%	1h	234.33	−0.111%	$174K	$498K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.28	−0.132%	$24K	$13K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0252%	8h	234.45	−0.058%	$5K	$140K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0269%	1h	234.50	−0.038%	$54.7M	$23.3M	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.41	−0.077%	$44K	$134K	5x	as long as short
Lighter NBISlong	+0.0368%	1h	234.59	long leg	$934K	$4.6M	10x
Phoenix NBIS	+0.0376%	1h	234.52	−0.030%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0502%	4h	234.37	−0.093%	$38K	$236K	10x	as long as short
Entropy io:NBIS	+0.0503%	1h	234.43	−0.068%	$10.2M	$3.4M	10x	as long as short