Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0248%/8h= −27.2% APRpaid last 24h −0.106%

Price spread now: HTX against Lighter+0.073%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.529%−$53 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. HTX is 0.073% dearer against Lighter than usual: you sell high and buy low (spread +0.073% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	234.37	0.0248	pay 0.0031% / 1h	25m 00s	$901K	$4.3M	10x
Short	HTX NBIS-USDT	234.54	0	get 0.0000% / 8h	5h 25m	$15K	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$52.08
Price spread: +0.073% → 0.000%: $7.25
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$56.83
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 3 min ago; HTX: no order-book sample. 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 Lighter live order book, 3 min ago	0.43 bp	0.7 bp −$1	2.6 bp −$26	60.9 bp −$6,094	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

HTX: 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 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	234.45	+0.034%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.25	−0.051%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.42	+0.021%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.34	−0.013%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.49	+0.049%	$4K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.43	+0.026%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDTshort	0.0000%	8h	234.54	+0.073%	$15K	$60K	20x
Phemex NBISUSDT	0.0000%	8h	234.41	+0.017%	$1.6M	$962K	10x	as long as short
Nado NBIS-PERP	+0.0003%	1h	234.27	−0.042%	$65K	$98K	3x	as long as short
QFEX NBIS-USD	+0.0023%	1h	234.39	+0.009%	$1.5M	$4.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	234.41	+0.017%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.60	+0.098%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.36	−0.004%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.35	−0.009%	$37	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.70	+0.141%	$164K	$499K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0074%	1h	234.29	−0.034%	$54.9M	$19.7M	10x	as long as short
Variational Omni NBIS	+0.0091%	8h	234.48	+0.046%	$2.9M	$568K	—	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.18	−0.081%	$483K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.40	+0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.38	+0.006%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.358%	$382K	$712K	10x	as long as short
BloFin NBIS-USDT	+0.0114%	8h	234.39	+0.009%	$206K	$204K	20x	as long as short
Aster NBISUSDT	+0.0122%	8h	234.63	+0.112%	$81K	$307K	50x	as long as short
Extended NBIS-USD	+0.0128%	1h	234.27	−0.043%	$146K	$702K	10x	as long as short
Binance NBISUSDT	+0.0131%	8h	234.37	0.000%	$19.1M	$84.5M	25x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.32	−0.023%	$23K	$15K	20x	as long as short
Lighter NBISlong	+0.0248%	1h	234.37	long leg	$901K	$4.3M	10x
Phoenix NBIS	+0.0308%	1h	234.85	+0.205%	$7K	$150K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0391%	1h	234.30	−0.030%	$35K	$48K	10x	as long as short
Entropy io:NBIS	+0.0481%	1h	234.46	+0.038%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0699%	4h	234.45	+0.032%	$38K	$226K	10x	as long as short