Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: Ondo Perps against OKX−0.052%7-day average −0.020% · you buy dearer than you sell

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

Long on OKX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.079%+$8 on $10k

Price spread, last 4 days (all we have)+0.015%+$1 · spread now −0.052%, 7d avg −0.020%

Together, before fees+0.093%+ Points / potential airdropOndo Perps: Active · farm board+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.032% cheaper against OKX than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of −0.020%). If the spread goes back, that is −$3 on $10k: about 2.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NBIS-USDT-SWAP	232.32	0	get 0.0000% / 8h	3h 05m	$3.4M	$16.1M	25x
Short	Ondo Perps NBIS-USD.P	232.20	0.0050	get 0.0006% / 1h	5m 08s	$160K	$508K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against OKX. 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 OKXbpFee Ondo PerpsbpOrdersPrice spread, now −0.052%Rate

Funding earned: $10.58
Price spread: −0.052% → −0.020%: −$3.16
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$7.58
Costs to cover: 0.150%
Break-even: 12.0 days

Slippage unknown: OKX: live order book, 3 min ago; Ondo Perps: 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 OKX live order book, 3 min ago	0.65 bp	9.8 bp −$10	25.6 bp −$256	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Aster NBISUSDT	0.0000%	8h	232.56	+0.102%	$78K	$310K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.28	−0.019%	$151K	$609K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.37	+0.022%	$18.9M	$85.6M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.42	+0.043%	$5.0M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAPlong	0.0000%	8h	232.32	long leg	$3.4M	$16.1M	25x
Gate NBIS_USDT	0.0000%	8h	232.41	+0.039%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	232.42	+0.043%	$2.4M	$4.5M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	232.62	+0.131%	$2.9M	$552K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.14	−0.079%	$5K	$118K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.34	+0.009%	$985	$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
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	232.35	+0.013%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.34	+0.009%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.33	+0.004%	$1.6M	$956K	10x	as long as short
Nado NBIS-PERP	+0.0008%	1h	232.14	−0.078%	$38K	$115K	3x	as long as short
BloFin NBIS-USDT	+0.0009%	8h	232.15	−0.073%	$205K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0034%	1h	232.32	0.000%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.20	−0.052%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	232.36	+0.017%	—	$217K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0049%	1h	232.29	−0.014%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	232.28	−0.017%	$54.1M	$20.2M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	232.17	−0.065%	$143K	$459K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	232.28	−0.017%	$102	$21K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	232.20	−0.052%	$160K	$508K	10x
KuCoin NBISUSDTM	+0.0100%	8h	232.30	−0.009%	$479K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.33	+0.004%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.27	−0.020%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	232.30	−0.009%	$361K	$771K	10x	as long as short
Lighter NBIS	+0.0200%	1h	232.43	+0.047%	$919K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0239%	1h	232.36	+0.017%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0295%	1h	232.37	+0.022%	$10.1M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0317%	4h	231.93	−0.167%	$37K	$226K	10x	as long as short