Funding you earn now, next payment 04:00 UTC−0.0015%/8h= −1.6% APRnext payment −$0.02 per $10,000 · paid last 24h −0.074%
Price spread now: Deribit against Phoenix−0.052%70s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Deribit is 0.052% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 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 | 232.25 | 0.0239 | pay 0.0030% / 1h | 7m 33s | $7K | $150K | 10x |
| Short | Deribit NBIS_USDC-PERPETUAL | 232.13 | 0.0224 | get 0.0028% / 1h | 7m 33s | $34K | $49K | 10x |
Phoenix NBIS
Deribit NBIS_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$3.08
- Price spread: −0.052% → 0.000%
- −$5.17
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$22.24
- Costs to cover
- 0.140%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 38 min ago; Deribit: no order-book sample. 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 Phoenix live order book, 38 min ago | 5.12 bp | 15.9 bp −$16 | 34.5 bp −$345 | doesn't fit | doesn't fit |
| Sell Deribit no order-book sample | — | — | — | — | — |
Deribit: 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 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 | 232.30 | +0.021% | $78K | $310K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 232.03 | −0.095% | $146K | $599K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 232.18 | −0.030% | $18.8M | $85.6M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 232.13 | −0.052% | $4.9M | $6.4M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 232.10 | −0.065% | $3.4M | $16.1M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 232.26 | +0.004% | $2.7M | $5.1M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 232.21 | −0.017% | $2.3M | $4.5M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 232.19 | −0.027% | $2.9M | $552K | — | as long as short |
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 231.97 | −0.121% | $5K | $118K | 10x | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 231.93 | −0.138% | $937 | $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 | 232.16 | −0.039% | $15K | $60K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 232.21 | −0.017% | $1.6M | $956K | 10x | as long as short |
| Nado NBIS-PERP | +0.0007% | 1h | 231.93 | −0.139% | $38K | $115K | 3x | as long as short |
| BloFin NBIS-USDT | +0.0014% | 8h | 232.02 | −0.099% | $206K | $204K | 20x | as long as short |
| QFEX NBIS-USD | +0.0034% | 1h | 232.14 | −0.047% | $1.5M | $4.0M | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 232.17 | −0.034% | $42K | $132K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 232.00 | −0.108% | — | $217K | 5x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0049% | 1h | 232.02 | −0.099% | $23K | $15K | 20x | as long as short |
| tradeXYZ xyz:NBIS | +0.0050% | 1h | 232.14 | −0.047% | $54.1M | $20.2M | 10x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 231.80 | −0.194% | $142K | $459K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 231.86 | −0.168% | $102 | $21K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 232.08 | −0.073% | $160K | $507K | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 232.08 | −0.073% | $478K | $20K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 232.06 | −0.082% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 232.01 | −0.102% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0104% | 1h | 232.30 | +0.022% | $361K | $771K | 10x | as long as short |
| Lighter NBIS | +0.0200% | 1h | 232.15 | −0.043% | $915K | $4.0M | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUALshort | +0.0224% | 1h | 232.13 | −0.052% | $34K | $49K | 10x | |
| Phoenix NBISlong | +0.0239% | 1h | 232.25 | long leg | $7K | $150K | 10x | |
| Entropy io:NBIS | +0.0290% | 1h | 232.30 | +0.022% | $10.1M | $3.2M | 10x | as long as short |
| edgeX NBISUSDC | +0.0317% | 4h | 231.93 | −0.137% | $37K | $226K | 10x | as long as short |
HTX NBIS-USDT
Phemex NBISUSDT
Nado NBIS-PERP
BloFin NBIS-USDT
QFEX NBIS-USD
Arcus 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
Lighter NBIS
Entropy io:NBIS
edgeX NBISUSDC