Funding you earn now, next payment 04:00 UTC−0.0198%/8h= −21.7% APRnext payment −$0.25 per $10,000 · paid last 24h −0.067%
Price spread now: Arcus against Phoenix+0.030%49s7-day average −0.114% · 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—prices read too far apart to compare
costs, in and out, $10k−$500.498% of the position
Funding, last 4 days (all we have)−0.004%$0 on $10k
+Price spread, last 4 days (all we have)−0.165%−$17 · spread now +0.030%, 7d avg −0.114%
=The price spread pays, funding is against you. Arcus is 0.144% dearer against Phoenix than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.114%): +$14 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 4 days (−0.004% in total) that is about 4 months. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.004% in total (about -0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.25 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NBIS | 232.87 | 0.0239 | pay 0.0030% / 1h | 16m 25s | $7K | $150K | 10x |
| Short | Arcus NBIS-USD | 232.94 | 0.0040 | get 0.0005% / 1h | 16m 25s | $42K | $132K | 5x |
Phoenix NBIS
Arcus NBIS-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$41.68
- Price spread: +0.030% → −0.114%
- $14.44
- Slippage, 4 orders
- −$38.35
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$77.09
- Costs to cover
- 0.498%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 29 min ago; Arcus: live order book, 37 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 Phoenix live order book, 29 min ago | 5.12 bp | 15.9 bp −$16 | 34.5 bp −$345 | doesn't fit | doesn't fit |
| Sell Arcus live order book, 37 min ago | 3.41 bp | 8.9 bp −$9 | 15.7 bp −$157 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster NBISUSDT | 0.0000% | 8h | 233.14 | +0.118% | $78K | $310K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 233.06 | +0.084% | $146K | $648K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 233.13 | +0.112% | $19.1M | $85.1M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 233.13 | +0.112% | $5.0M | $6.3M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 233.20 | +0.142% | $3.4M | $16.1M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 233.11 | +0.103% | $2.7M | $5.1M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 233.13 | +0.112% | $2.3M | $4.5M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 233.38 | +0.221% | $2.9M | $558K | — | as long as short |
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 233.38 | +0.219% | $5K | $120K | 10x | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 233.01 | +0.060% | $1K | $1.6M | 10x | as long as short |
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
Variational Omni NBIS
GRVT NBIS_USDT_Perp
SunX NBIS-USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX NBIS-USDT | 0.0000% | 8h | 233.51 | +0.275% | $15K | $60K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 232.96 | +0.039% | $1.6M | $954K | 10x | as long as short |
| BloFin NBIS-USDT | +0.0007% | 8h | 232.95 | +0.034% | $206K | $205K | 20x | as long as short |
| Nado NBIS-PERP | +0.0020% | 1h | 232.92 | +0.019% | $38K | $115K | 3x | as long as short |
| QFEX NBIS-USD | +0.0034% | 1h | 233.15 | +0.120% | $1.5M | $4.0M | 10x | as long as short |
| Arcus NBIS-USDshort | +0.0040% | 1h | 232.94 | +0.030% | $42K | $132K | 5x | |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 233.21 | +0.146% | — | $216K | 5x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0049% | 1h | 233.17 | +0.127% | $23K | $15K | 20x | as long as short |
| tradeXYZ xyz:NBIS | +0.0050% | 1h | 233.08 | +0.090% | $54.3M | $20.1M | 10x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 233.05 | +0.077% | $147K | $456K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 232.79 | −0.034% | $102 | $21K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 233.01 | +0.060% | $160K | $500K | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 233.03 | +0.069% | $480K | $20K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 233.03 | +0.069% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 232.96 | +0.037% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0104% | 1h | 233.30 | +0.185% | $362K | $764K | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUAL | +0.0179% | 1h | 233.03 | +0.069% | $35K | $49K | 10x | as long as short |
| Lighter NBIS | +0.0216% | 1h | 233.05 | +0.077% | $923K | $4.0M | 10x | as long as short |
| Phoenix NBISlong | +0.0239% | 1h | 232.87 | long leg | $7K | $150K | 10x | |
| Entropy io:NBIS | +0.0287% | 1h | 233.07 | +0.086% | $10.1M | $3.2M | 10x | as long as short |
| edgeX NBISUSDC | +0.0340% | 4h | 233.36 | +0.211% | $37K | $227K | 10x | as long as short |
HTX NBIS-USDT
Phemex NBISUSDT
BloFin NBIS-USDT
Nado NBIS-PERP
QFEX NBIS-USD
Vest NBIS-USD-PERP
Kraken Futures PF_NBISUSD
tradeXYZ xyz:NBIS
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
Deribit NBIS_USDC-PERPETUAL
Lighter NBIS
Entropy io:NBIS
edgeX NBISUSDC