Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0091%/8h= −9.9% APRpaid last 24h +0.002%

Price spread now: Bybit against SoDEX+0.065%46s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread pays, funding is against you. Bybit is 0.065% dearer against SoDEX than usual: you sell high and buy low (spread +0.065% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.4 days. The two prices were read 46 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	SoDEX NBIS-USD	231.25	0.0091	pay 0.0011% / 1h	34m 41s	$102	$20K	10x
Short	Bybit NBISUSDT	231.40	0	get 0.0000% / 8h	34m 41s	$4.9M	$6.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$19.08
Price spread: +0.065% → 0.000%: $6.49
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$31.59
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Bybit: live order book, 3 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	1.73 bp	16.3 bp −$16	76.0 bp −$760	doesn't fit	doesn't fit

SoDEX: 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
Bitget NBISUSDT	−0.0440%	8h	231.36	+0.048%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.30	+0.021%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.31	+0.024%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.39	+0.061%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDTshort	0.0000%	8h	231.40	+0.065%	$4.9M	$6.8M	50x
OKX NBIS-USDT-SWAP	0.0000%	8h	231.32	+0.030%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.26	+0.004%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.035%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	+0.017%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	+0.048%	$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	+0.017%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.34	+0.039%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDT	+0.0028%	8h	231.35	+0.043%	$203K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.12	−0.056%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.34	+0.039%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.03	−0.095%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.09	−0.069%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.06	−0.082%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.372%	$353K	$814K	10x	as long as short
SoDEX NBIS-USDlong	+0.0091%	1h	231.25	long leg	$102	$20K	10x
KuCoin NBISUSDTM	+0.0100%	8h	231.02	−0.099%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.18	−0.030%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.17	−0.036%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0150%	1h	231.15	−0.043%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0171%	1h	231.06	−0.081%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.052%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	+0.020%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0368%	1h	231.18	−0.030%	$932K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0437%	1h	231.10	−0.065%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.13	−0.052%	$23K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0746%	1h	231.13	−0.052%	$34K	$49K	10x	as long as short