Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.024%

Price spread now: OKX against Polymarket Perps−0.119%57s7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as 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−$280.283% of the position

Long on Polymarket Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 3 days (all we have)+0.084%+$8 · spread now −0.119%, 7d avg −0.003%

Together, before fees+0.092%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.116% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.003%). Swap the legs. The two prices were read 57 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	234.73	0.0050	pay 0.0006% / 1h	12m 35s	$142K	$738K	10x
Short	OKX NBIS-USDT-SWAP	234.45	0	get 0.0000% / 8h	12m 35s	$3.4M	$17.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$10.5
Price spread: −0.119% → −0.003%: −$11.6
Slippage, 4 orders: −$10.31
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$50.41
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 65 min ago; OKX: live order book, 1 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, 65 min ago	1.71 bp	5.7 bp −$6	6.3 bp −$63	27.6 bp −$2,759	doesn't fit
Sell OKX live order book, 1 min ago	0.64 bp	9.7 bp −$10	27.0 bp −$270	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
Bybit NBISUSDT	0.0000%	8h	234.35	−0.162%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	234.45	−0.119%	$3.4M	$17.0M	25x
Gate NBIS_USDT	0.0000%	8h	234.54	−0.081%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.48	−0.107%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.75	+0.009%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.58	−0.064%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	234.81	+0.034%	$360K	$679K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.85	+0.051%	$15K	$116K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.61	−0.051%	$1.6M	$976K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.01	+0.119%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USDlong	+0.0050%	1h	234.73	long leg	$142K	$738K	10x
SoDEX NBIS-USD	+0.0050%	1h	234.66	−0.030%	$28	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.46	−0.115%	$1.5M	$5.2M	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0052%	1h	234.47	−0.111%	$174K	$507K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.38	−0.149%	$483K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.71	−0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.74	+0.005%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0194%	1h	234.41	−0.135%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0221%	8h	235.11	+0.160%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0230%	8h	234.63	−0.043%	$81K	$308K	50x	as long as short
Binance NBISUSDT	+0.0247%	8h	234.44	−0.124%	$19.4M	$86.5M	25x	as long as short
BloFin NBIS-USDT	+0.0247%	8h	234.66	−0.030%	$206K	$213K	20x	as long as short
Extended NBIS-USD	+0.0248%	1h	234.38	−0.150%	$139K	$703K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.41	−0.135%	$24K	$15K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0249%	8h	235.06	+0.139%	$5K	$138K	10x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.47	−0.111%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0302%	1h	234.58	−0.064%	$54.7M	$23.5M	10x	as long as short
Lighter NBIS	+0.0352%	1h	234.65	−0.034%	$926K	$4.6M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.17	+0.187%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0406%	4h	234.92	+0.082%	$38K	$236K	10x	as long as short
Entropy io:NBIS	+0.0491%	1h	234.75	+0.009%	$10.3M	$3.4M	10x	as long as short