Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Polymarket Perps against Ondo Perps−0.013%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 Ondo Perps Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.086%−$9 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now −0.013%, 7d avg +0.020%

Together, before fees+0.062%+ Points / potential airdropOndo Perps: Active · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.033% cheaper against Ondo Perps than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps NBIS-USD.P	231.41	0.0050	pay 0.0006% / 1h	7m 45s	$152K	$539K	10x
Short	Polymarket Perps NBIS-USD	231.38	0.0050	get 0.0006% / 1h	7m 45s	$138K	$472K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee Polymarket PerpsbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$0.08
Price spread: −0.013% → +0.020%: −$3.29
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$16.37
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; Polymarket Perps: live order book, 43 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 43 min ago	4.12 bp	8.1 bp −$8	11.3 bp −$113	doesn't fit	doesn't fit

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 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	231.97	+0.242%	$3.3M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.60	+0.082%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	231.58	+0.073%	$2.3M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.50	+0.039%	$901	$1.5M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.62	+0.091%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.56	+0.065%	$1.6M	$969K	10x	as long as short
Variational Omni NBIS	+0.0009%	8h	231.54	+0.057%	$2.8M	$642K	—	as long as short
Bybit NBISUSDT	+0.0030%	8h	231.68	+0.117%	$4.9M	$6.8M	50x	as long as short
Aster NBISUSDT	+0.0042%	8h	231.56	+0.065%	$74K	$312K	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.77	+0.156%	—	$250K	5x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USDshort	+0.0050%	1h	231.38	−0.013%	$138K	$472K	10x
SoDEX NBIS-USD	+0.0050%	1h	231.56	+0.065%	$74	$19K	10x	as long as short
Ondo Perps NBIS-USD.Plong	+0.0050%	1h	231.41	long leg	$152K	$539K	10x
QFEX NBIS-USD	+0.0054%	1h	231.57	+0.069%	$1.5M	$3.7M	10x	as long as short
Extended NBIS-USD	+0.0072%	1h	231.54	+0.057%	$145K	$854K	10x	as long as short
BloFin NBIS-USDT	+0.0073%	8h	231.56	+0.065%	$157K	$218K	20x	as long as short
Binance NBISUSDT	+0.0077%	8h	231.68	+0.117%	$19.6M	$91.3M	25x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	230.69	−0.311%	$380K	$873K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.32	−0.039%	$469K	$158K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.51	+0.043%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.52	+0.049%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0124%	1h	231.43	+0.008%	$38K	$116K	3x	as long as short
Arcus NBIS-USD	+0.0257%	1h	231.50	+0.039%	$42K	$122K	5x	as long as short
GRVT NBIS_USDT_Perp	+0.0271%	8h	231.54	+0.056%	$4K	$103K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0289%	1h	231.59	+0.078%	$54.4M	$19.2M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0312%	1h	231.36	−0.022%	$34K	$49K	10x	as long as short
Phoenix NBIS	+0.0347%	1h	231.51	+0.043%	$7K	$127K	10x	as long as short
Lighter NBIS	+0.0392%	1h	231.72	+0.134%	$940K	$4.1M	10x	as long as short
edgeX NBISUSDC	+0.0575%	4h	231.53	+0.054%	$37K	$226K	10x	as long as short
Entropy io:NBIS	+0.0661%	1h	231.41	0.000%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0768%	1h	231.35	−0.025%	$22K	$11K	20x	as long as short