Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h −0.042%

Price spread now: Bybit against Nado+0.090%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$900.899% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.090%, 7d avg +0.009%

Together, before fees−0.145%+ Points / potential airdropNado: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.081% dearer against Nado than usual: you sell high and buy low (spread +0.090% now, against its 7-day average of +0.009%): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 47 hours. At the pace of the last 3 days (−0.023% in total) that is about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NBIS-PERP	231.04	0.0136	pay 0.0017% / 1h	52m 03s	$38K	$115K	3x
Short	Bybit NBISUSDT	231.25	0	get 0.0000% / 8h	1h 52m	$4.9M	$6.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$28.5
Price spread: +0.090% → +0.009%: $8.05
Slippage, 4 orders: −$71.94
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$110.38
Costs to cover: 0.899%
Break-even: never at this rate

Slippage from Nado: live order book, 51 min ago; Bybit: live order book, 1 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 Nado live order book, 51 min ago	11.23 bp	29.0 bp −$29	516.7 bp −$5,167	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	2.16 bp	19.1 bp −$19	71.2 bp −$712	doesn't fit	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
Bitget NBISUSDT	−0.0395%	8h	231.16	+0.051%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.05	+0.004%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.08	+0.015%	$145K	$742K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.18	+0.060%	$18.6M	$87.2M	25x	as long as short
Bybit NBISUSDTshort	0.0000%	8h	231.25	+0.090%	$4.9M	$6.5M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	231.12	+0.034%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.10	+0.025%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.22	+0.079%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.42	+0.163%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.40	+0.155%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.31	+0.116%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.13	+0.038%	$1.6M	$961K	10x	as long as short
BloFin NBIS-USDT	+0.0030%	8h	231.30	+0.112%	$204K	$206K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.32	+0.120%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.30	+0.112%	—	$220K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.07	+0.012%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.07	+0.012%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.24	+0.086%	$151K	$548K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	231.14	+0.042%	$1.5M	$3.9M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.03	−0.005%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.14	+0.042%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.11	+0.028%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	232.18	+0.492%	$352K	$816K	10x	as long as short
Nado NBIS-PERPlong	+0.0136%	1h	231.04	long leg	$38K	$115K	3x
tradeXYZ xyz:NBIS	+0.0193%	1h	231.03	−0.005%	$54.3M	$21.0M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0226%	1h	231.12	+0.034%	$34K	$49K	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.70	+0.285%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0336%	1h	231.12	+0.034%	$941K	$3.9M	10x	as long as short
Entropy io:NBIS	+0.0537%	1h	231.39	+0.150%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0655%	4h	231.33	+0.122%	$37K	$226K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0684%	1h	231.07	+0.013%	$23K	$15K	20x	as long as short