Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0196%/8h= −21.5% APRpaid last 24h −0.050%

Price spread now: Orderly against Lighter+0.061%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 Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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. Orderly is 0.061% dearer against Lighter than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	230.48	0.0296	pay 0.0037% / 1h	54m 23s	$925K	$4.0M	10x
Short	Orderly PERP_NBIS_USDC_mythos	230.62	0.0100	get 0.0100% / 8h	6h 54m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.061%Rate

Funding earned: −$41.16
Price spread: +0.061% → 0.000%: $6.07
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$41.09
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Lighter: live order book, 3 min ago; Orderly: 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	1.30 bp	2.5 bp −$3	4.5 bp −$45	66.0 bp −$6,603	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Bitget NBISUSDT	−0.0041%	8h	230.29	−0.082%	$2.3M	$4.7M	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.35	−0.056%	$3.2M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.41	−0.030%	$2.7M	$5.0M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.17	+0.299%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.42	−0.026%	$34K	$50K	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.45	−0.013%	$1.6M	$971K	10x	as long as short
Variational Omni NBIS	+0.0011%	8h	231.16	+0.295%	$2.8M	$639K	—	as long as short
Aster NBISUSDT	+0.0028%	8h	230.63	+0.067%	$74K	$320K	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.51	+0.013%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.32	−0.069%	$137K	$467K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.99	+0.221%	$149K	$538K	10x	as long as short
QFEX NBIS-USD	+0.0054%	1h	230.40	−0.035%	$1.5M	$3.7M	10x	as long as short
BloFin NBIS-USDT	+0.0058%	8h	230.56	+0.035%	$201K	$215K	20x	as long as short
Extended NBIS-USD	+0.0064%	1h	230.38	−0.043%	$145K	$856K	10x	as long as short
Binance NBISUSDT	+0.0064%	8h	230.44	−0.017%	$18.7M	$90.8M	25x	as long as short
Nado NBIS-PERP	+0.0069%	1h	230.36	−0.052%	$38K	$116K	3x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	230.78	+0.130%	$382K	$869K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.47	−0.004%	$467K	$107K	20x	as long as short
Orderly PERP_NBIS_USDC_mythosshort	+0.0100%	8h	230.62	+0.061%	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	231.08	+0.262%	—	—	10x	as long as short
Bybit NBISUSDT	+0.0146%	8h	230.42	−0.026%	$4.9M	$6.8M	50x	as long as short
HTX NBIS-USDT	+0.0157%	8h	230.95	+0.204%	$13K	$62K	20x	as long as short
SoDEX NBIS-USD	+0.0209%	1h	230.54	+0.026%	$74	$20K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0242%	1h	230.37	−0.048%	$54.1M	$21.8M	10x	as long as short
Arcus NBIS-USD	+0.0257%	1h	230.38	−0.043%	$42K	$124K	5x	as long as short
Phoenix NBIS	+0.0277%	1h	230.93	+0.195%	$7K	$127K	10x	as long as short
Lighter NBISlong	+0.0296%	1h	230.48	long leg	$925K	$4.0M	10x
Entropy io:NBIS	+0.0681%	1h	230.57	+0.039%	$10.1M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0719%	4h	231.07	+0.257%	$37K	$226K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0771%	1h	230.52	+0.018%	$22K	$16K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0822%	8h	231.19	+0.308%	$5K	$114K	10x	as long as short