Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h +0.012%

Price spread now: BloFin against Polymarket Perps+0.013%45s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as 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−$340.345% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.013%, 7d avg +0.027%

Together, before fees+0.002%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 45 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	Polymarket Perps NBIS-USD	231.32	0.0050	pay 0.0006% / 1h	34m 23s	$137K	$473K	10x
Short	BloFin NBIS-USDT	231.35	0.0028	get 0.0028% / 8h	34m 23s	$203K	$209K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. 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 Polymarket PerpsbpFee BloFinbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$4.66
Price spread: +0.013% → +0.027%: −$1.42
Slippage, 4 orders: −$14.48
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$40.55
Costs to cover: 0.345%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; BloFin: live order book, 36 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 Polymarket Perps live order book, 3 min ago	2.60 bp	7.9 bp −$8	8.4 bp −$84	34.9 bp −$3,488	doesn't fit
Sell BloFin live order book, 36 min ago	0.22 bp	11.6 bp −$12	22.4 bp −$224	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
Bitget NBISUSDT	−0.0440%	8h	231.39	+0.030%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.48	+0.068%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.31	−0.006%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.50	+0.078%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.44	+0.052%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.36	+0.017%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.42	+0.043%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.065%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	−0.013%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	+0.017%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	231.29	−0.013%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.34	+0.009%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDTshort	+0.0028%	8h	231.35	+0.013%	$203K	$209K	20x
Arcus NBIS-USD	+0.0040%	1h	231.12	−0.086%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.34	+0.009%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.17	−0.065%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USDlong	+0.0050%	1h	231.32	long leg	$137K	$473K	10x
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.06	−0.112%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.402%	$353K	$814K	10x	as long as short
SoDEX NBIS-USD	+0.0091%	1h	231.25	−0.030%	$102	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.10	−0.095%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.43	+0.048%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.17	−0.066%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0150%	1h	231.32	0.000%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0180%	1h	231.18	−0.059%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.082%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	−0.010%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0368%	1h	231.18	−0.061%	$932K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0437%	1h	231.10	−0.095%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.13	−0.082%	$23K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0746%	1h	231.13	−0.082%	$34K	$49K	10x	as long as short