Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0384%/8h= −42.0% APRpaid last 24h −0.078%

Price spread now: SunX against Lighter−0.168%7-day average −0.058% · you buy dearer than you sell

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$141as in the Price arb table

costs, in and out, $10k−$1301.304% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.546%−$55 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now −0.168%, 7d avg −0.058%

Together, before fees−0.534%+ Points / potential airdropLighter: Season 3 · farm board−$53 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and SunX is 0.110% cheaper against Lighter than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.058%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NBIS	232.46	0.0384	pay 0.0048% / 1h	2m 25s	$942K	$4.1M	10x
Short	SunX NBIS-USDT	232.07	0	get 0.0000% / 8h	6h 02m	$982	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$80.64
Price spread: −0.168% → −0.058%: −$11.02
Slippage, 4 orders: −$122.37
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$222.02
Costs to cover: 1.304%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; SunX: live order book, 6 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	1.08 bp	1.2 bp −$1	2.2 bp −$22	57.1 bp −$5,708	doesn't fit
Sell SunX live order book, 6 min ago	44.91 bp	64.1 bp −$64	doesn't fit	doesn't fit	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	232.30	−0.069%	$3.3M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.37	−0.039%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	232.32	−0.060%	$2.3M	$4.5M	20x	as long as short
SunX NBIS-USDTshort	0.0000%	8h	232.07	−0.168%	$982	$1.5M	10x
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	232.03	−0.185%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.36	−0.043%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.61	+0.065%	$1.6M	$969K	10x	as long as short
Variational Omni NBIS	+0.0024%	8h	232.60	+0.060%	$2.9M	$636K	—	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	232.53	+0.030%	—	$250K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	232.31	−0.065%	$139K	$472K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NBISUSDT	+0.0050%	8h	232.40	−0.026%	$5.0M	$6.8M	50x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.86	−0.258%	$153K	$522K	10x	as long as short
QFEX NBIS-USD	+0.0054%	1h	232.35	−0.047%	$1.6M	$3.7M	10x	as long as short
Aster NBISUSDT	+0.0063%	8h	232.02	−0.189%	$74K	$312K	50x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	231.78	−0.293%	$382K	$876K	10x	as long as short
Extended NBIS-USD	+0.0096%	1h	232.27	−0.084%	$146K	$844K	10x	as long as short
BloFin NBIS-USDT	+0.0098%	8h	232.68	+0.095%	$157K	$216K	20x	as long as short
Binance NBISUSDT	+0.0099%	8h	232.36	−0.043%	$19.7M	$90.8M	25x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.09	−0.159%	$471K	$164K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.35	−0.047%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.06	−0.174%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0139%	1h	232.31	−0.065%	$38K	$86K	3x	as long as short
SoDEX NBIS-USD	+0.0140%	1h	232.44	−0.009%	$60	$19K	10x	as long as short
Arcus NBIS-USD	+0.0257%	1h	232.30	−0.069%	$42K	$121K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0286%	1h	232.35	−0.047%	$54.7M	$19.2M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0318%	8h	232.34	−0.053%	$4K	$103K	10x	as long as short
Phoenix NBIS	+0.0347%	1h	232.07	−0.168%	$7K	$127K	10x	as long as short
Lighter NBISlong	+0.0384%	1h	232.46	long leg	$942K	$4.1M	10x
Entropy io:NBIS	+0.0666%	1h	232.18	−0.120%	$10.1M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0732%	4h	232.38	−0.034%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0765%	1h	232.16	−0.128%	$22K	$11K	20x	as long as short