Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0177%/8h= +19.4% APRpaid last 24h +0.016%

Price spread now: Polymarket Perps against Phemex−0.060%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$112as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1201.203% of the position

Long on Phemex Short on Polymarket 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)+0.061%+$6 · spread now −0.060%, 7d avg −0.024%

Together, before fees+0.140%+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.036% cheaper against Phemex than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of −0.024%). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.079% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NBISUSDT	233.78	0	get 0.0000% / 8h	4h 58m	$1.6M	$968K	10x
Short	Polymarket Perps NBIS-USD	233.64	0.0177	get 0.0022% / 1h	58m 06s	$129K	$478K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Phemex. 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 PhemexbpFee Polymarket PerpsbpOrdersPrice spread, now −0.060%Rate

Funding earned: $37.11
Price spread: −0.060% → −0.024%: −$3.59
Slippage, 4 orders: −$100.31
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$86.8
Costs to cover: 1.203%
Break-even: 23.4 days

Slippage from Phemex: live order book, 3 min ago; Polymarket Perps: live order book, 48 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 Phemex live order book, 3 min ago	2.99 bp	54.2 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 48 min ago	1.92 bp	5.9 bp −$6	8.1 bp −$81	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	233.66	−0.051%	$3.3M	$16.3M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.77	−0.004%	$2.8M	$4.8M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.85	+0.030%	$2.3M	$4.4M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.48	+0.299%	$1K	$1.4M	10x	as long as short
Phemex NBISUSDTlong	0.0000%	8h	233.78	long leg	$1.6M	$968K	10x
HTX NBIS-USDT	+0.0034%	8h	234.15	+0.158%	$13K	$61K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0039%	1h	233.65	−0.056%	$22K	$10K	20x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.78	0.000%	$1K	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.86	+0.034%	$151K	$525K	10x	as long as short
Vest NBIS-USD-PERP	+0.0052%	1h	234.25	+0.201%	—	$250K	5x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0053%	1h	233.74	−0.017%	$1.6M	$3.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.91	+0.056%	$474K	$237K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.78	0.000%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.80	+0.007%	—	—	10x	as long as short
Polymarket Perps NBIS-USDshort	+0.0177%	1h	233.64	−0.060%	$129K	$478K	10x
Variational Omni NBIS	+0.0217%	8h	234.03	+0.108%	$2.9M	$631K	—	as long as short
Coinbase International NBIS-PERP-INTX	+0.0224%	1h	234.06	+0.120%	$383K	$862K	10x	as long as short
Bybit NBISUSDT	+0.0239%	8h	233.82	+0.017%	$5.4M	$6.9M	50x	as long as short
Aster NBISUSDT	+0.0243%	8h	234.39	+0.262%	$81K	$314K	50x	as long as short
tradeXYZ xyz:NBIS	+0.0252%	1h	233.78	0.000%	$55.6M	$18.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0264%	1h	233.66	−0.051%	$35K	$48K	10x	as long as short
BloFin NBIS-USDT	+0.0274%	8h	234.21	+0.184%	$208K	$219K	20x	as long as short
Binance NBISUSDT	+0.0279%	8h	233.85	+0.029%	$20.6M	$90.8M	25x	as long as short
Extended NBIS-USD	+0.0280%	1h	233.71	−0.031%	$146K	$999K	10x	as long as short
Nado NBIS-PERP	+0.0292%	1h	233.60	−0.076%	$38K	$82K	3x	as long as short
Phoenix NBIS	+0.0377%	1h	234.04	+0.111%	$7K	$115K	10x	as long as short
edgeX NBISUSDC	+0.0381%	4h	234.03	+0.108%	$31K	$234K	10x	as long as short
Lighter NBIS	+0.0472%	1h	233.86	+0.034%	$949K	$3.7M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0575%	8h	234.14	+0.155%	$5K	$102K	10x	as long as short
Entropy io:NBIS	+0.0802%	1h	234.04	+0.111%	$10.2M	$2.9M	10x	as long as short
Arcus NBIS-USD	+0.0870%	1h	233.72	−0.026%	$42K	$117K	5x	as long as short