Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0318%/8hpaid last 24h −0.029%

Price spread now: BloFin against Phoenix+0.060%7-day average −0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$97as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.477%−$48 on $10k

Price spread, last 3 days (all we have)−0.182%−$18 · spread now +0.060%, 7d avg −0.089%

Together, before fees−0.660%−$66 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.149% dearer against Phoenix than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of −0.089%): +$15 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NBIS	234.30	0.0340	pay 0.0042% / 1h	21m 51s	$7K	$180K	10x
Short	BloFin NBIS-USDT	234.44	0.0022	get 0.0022% / 8h	4h 21m	$213K	$215K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phoenix. 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 PhoenixbpFee BloFinbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$66.8
Price spread: +0.060% → −0.089%: $14.91
Slippage, 4 orders: −$30.28
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$101.17
Costs to cover: 0.493%
Break-even: never at this rate

Slippage from Phoenix: live order book, 6 min ago; BloFin: live order book, 5 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, 6 min ago	4.70 bp	14.1 bp −$14	30.1 bp −$301	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	0.64 bp	10.2 bp −$10	23.2 bp −$232	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
Kraken Futures PF_NBISUSD	−0.0161%	1h	234.39	+0.037%	$25K	$11K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	234.55	+0.107%	$111K	$266K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	234.53	+0.097%	$141K	$694K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	234.61	+0.132%	$20.3M	$82.6M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	234.52	+0.094%	$5.2M	$6.1M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.55	+0.107%	$3.5M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.39	+0.038%	$2.9M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.58	+0.120%	$2.5M	$4.5M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	234.16	−0.060%	$2.9M	$923K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.23	−0.028%	$5K	$140K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	234.34	+0.017%	$933	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.21	−0.038%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.40	+0.043%	$1.6M	$907K	10x	as long as short
BloFin NBIS-USDTshort	+0.0022%	8h	234.44	+0.060%	$213K	$215K	20x
QFEX NBIS-USD	+0.0033%	1h	234.40	+0.043%	$1.5M	$5.0M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	234.22	−0.034%	$40K	$118K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.53	+0.098%	—	$230K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.44	+0.060%	$135K	$554K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.35	+0.021%	$98	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.18	−0.051%	$160K	$491K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.24	−0.026%	$494K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.37	+0.030%	$2K	$4K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.35	+0.023%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0114%	1h	234.51	+0.090%	$54.8M	$22.3M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	235.35	+0.448%	$370K	$652K	10x	as long as short
Entropy io:NBIS	+0.0129%	1h	234.30	0.000%	$10.3M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0141%	4h	234.26	−0.018%	$38K	$238K	10x	as long as short
Nado NBIS-PERP	+0.0166%	1h	234.24	−0.027%	$29K	$65K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0177%	1h	234.35	+0.021%	$36K	$88K	10x	as long as short
Lighter NBIS	+0.0216%	1h	234.67	+0.158%	$986K	$4.4M	10x	as long as short
Phoenix NBISlong	+0.0340%	1h	234.30	long leg	$7K	$180K	10x