Funding you earn now, next payment 05:00 UTC−0.0242%/8h= −26.4% APRpaid last 24h −0.070%
Price spread now: Binance against Phoenix−0.193%105s7-day average −0.115% · you buy dearer than you sell
Net, funding: paid 7d − costs−$95as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$490.492% of the position
Funding, last 7 days−0.457%−$46 on $10k
+Price spread, last 4 days (all we have)+0.142%+$14 · spread now −0.193%, 7d avg −0.115%
=Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Binance is 0.079% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.115%). Swap the legs. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NBIS | 232.60 | 0.0242 | pay 0.0030% / 1h | 47m 40s | $7K | $150K | 10x |
| Short | Binance NBISUSDT | 232.15 | 0 | get 0.0000% / 8h | 2h 47m | $18.8M | $85.6M | 25x |
Phoenix NBIS
Binance NBISUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$50.72
- Price spread: −0.193% → −0.115%
- −$7.87
- Slippage, 4 orders
- −$32.22
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$107.82
- Costs to cover
- 0.492%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 58 min ago; Binance: live order book, 10 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, 58 min ago | 5.12 bp | 15.9 bp −$16 | 34.5 bp −$345 | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 0.22 bp | 9.7 bp −$10 | 32.6 bp −$326 | 100.9 bp −$10.1K | 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 | −0.0075% | 8h | 232.25 | −0.150% | $2.3M | $4.5M | 20x | as long as short |
| BloFin NBIS-USDT | −0.0019% | 8h | 232.57 | −0.013% | $205K | $205K | 20x | as long as short |
| Aster NBISUSDT | 0.0000% | 8h | 232.26 | −0.147% | $83K | $310K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 232.15 | −0.195% | $145K | $753K | 10x | as long as short |
| Binance NBISUSDTshort | 0.0000% | 8h | 232.15 | −0.193% | $18.8M | $85.6M | 25x | |
| Bybit NBISUSDT | 0.0000% | 8h | 232.20 | −0.172% | $4.9M | $6.4M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 232.10 | −0.215% | $3.3M | $16.0M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 232.42 | −0.077% | $2.7M | $5.0M | 50x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 232.77 | +0.075% | $2.9M | $555K | — | as long as short |
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 232.78 | +0.078% | $5K | $118K | 10x | as long as short |
Bitget NBISUSDT
BloFin NBIS-USDT
Aster NBISUSDT
Extended NBIS-USD
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Variational Omni NBIS
GRVT NBIS_USDT_PerpShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX NBIS-USDT | 0.0000% | 8h | 232.75 | +0.064% | $1K | $1.6M | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUAL | 0.0000% | 1h | 232.33 | −0.116% | $34K | $49K | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 232.96 | +0.155% | $15K | $60K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 232.39 | −0.090% | $1.6M | $956K | 10x | as long as short |
| QFEX NBIS-USD | +0.0029% | 1h | 232.44 | −0.069% | $1.5M | $3.9M | 10x | as long as short |
| Nado NBIS-PERP | +0.0030% | 1h | 232.23 | −0.158% | $38K | $115K | 3x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 232.41 | −0.082% | $42K | $132K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 232.37 | −0.099% | — | $217K | 5x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 232.36 | −0.103% | $143K | $459K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 232.35 | −0.107% | $98 | $20K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 232.76 | +0.069% | $161K | $507K | 10x | as long as short |
| tradeXYZ xyz:NBIS | +0.0076% | 1h | 232.05 | −0.236% | $54.1M | $20.2M | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 232.15 | −0.193% | $478K | $20K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 232.36 | −0.103% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 232.30 | −0.128% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0168% | 1h | 232.30 | −0.129% | $361K | $771K | 10x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0222% | 1h | 232.29 | −0.132% | $23K | $15K | 20x | as long as short |
| Phoenix NBISlong | +0.0242% | 1h | 232.60 | long leg | $7K | $150K | 10x | |
| Lighter NBIS | +0.0328% | 1h | 232.12 | −0.206% | $929K | $3.9M | 10x | as long as short |
| Entropy io:NBIS | +0.0474% | 1h | 232.32 | −0.120% | $10.1M | $3.2M | 10x | as long as short |
| edgeX NBISUSDC | +0.0915% | 4h | 232.68 | +0.036% | $37K | $226K | 10x | as long as short |
SunX NBIS-USDT
Deribit NBIS_USDC-PERPETUAL
HTX NBIS-USDT
Phemex NBISUSDT
QFEX NBIS-USD
Nado NBIS-PERP
Arcus NBIS-USD
Vest NBIS-USD-PERP
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
tradeXYZ xyz:NBIS
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
Kraken Futures PF_NBISUSD
Lighter NBIS
Entropy io:NBIS
edgeX NBISUSDC