Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.122%

Price spread now: Kraken Futures against SunX−0.115%7-day average — · you buy dearer than you sell

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

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

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

Funding pays, the price is against you. Kraken Futures is 0.115% cheaper against SunX than usual: you would sell low and buy high (spread −0.115% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 4.0 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	234.83	0	get 0.0000% / 8h	6h 56m	$1K	$1.7M	10x
Short	Kraken Futures PF_NBISUSD	234.56	0.0095	get 0.0012% / 1h	56m 19s	$24K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.115%Rate

Funding earned: $20.02
Price spread: −0.115% → 0.000%: −$11.5
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$9.48
Costs to cover: 0.180%
Break-even: 10.3 days

Slippage unknown: SunX: live order book, 9 min ago; Kraken Futures: 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 SunX live order book, 9 min ago	45.18 bp	63.6 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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
Bybit NBISUSDT	0.0000%	8h	234.66	−0.072%	$5.1M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.72	−0.047%	$3.4M	$16.7M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.70	−0.055%	$2.8M	$5.0M	50x	as long as short
SunX NBIS-USDTlong	0.0000%	8h	234.83	long leg	$1K	$1.7M	10x
HTX NBIS-USDT	0.0000%	8h	235.61	+0.332%	$15K	$66K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.76	−0.030%	$1.6M	$972K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0006%	1h	234.63	−0.085%	$35K	$48K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	234.67	−0.068%	$1.5M	$4.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.15	+0.136%	$43K	$135K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.01	+0.077%	—	$223K	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-USD	+0.0050%	1h	234.66	−0.072%	$142K	$462K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.70	−0.055%	$84	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.79	−0.017%	$169K	$505K	10x	as long as short
Bitget NBISUSDT	+0.0078%	8h	234.72	−0.047%	$2.5M	$4.6M	20x	as long as short
Nado NBIS-PERP	+0.0091%	1h	234.62	−0.089%	$31K	$66K	3x	as long as short
Kraken Futures PF_NBISUSDshort	+0.0095%	1h	234.56	−0.115%	$24K	$15K	20x
KuCoin NBISUSDTM	+0.0100%	8h	234.75	−0.034%	$484K	$22K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.81	−0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.75	−0.034%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+0.520%	$386K	$736K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0155%	1h	234.70	−0.055%	$54.9M	$23.7M	10x	as long as short
Variational Omni NBIS	+0.0253%	8h	234.64	−0.081%	$2.9M	$591K	—	as long as short
Aster NBISUSDT	+0.0257%	8h	235.02	+0.082%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0260%	8h	234.84	+0.004%	$206K	$210K	20x	as long as short
Lighter NBIS	+0.0264%	1h	234.80	−0.013%	$913K	$4.4M	10x	as long as short
Binance NBISUSDT	+0.0278%	8h	234.77	−0.026%	$19.5M	$85.4M	25x	as long as short
Extended NBIS-USD	+0.0280%	1h	234.69	−0.060%	$151K	$705K	10x	as long as short
Entropy io:NBIS	+0.0314%	1h	235.13	+0.128%	$10.3M	$3.4M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0325%	8h	235.40	+0.243%	$5K	$131K	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.10	+0.115%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0967%	4h	235.39	+0.237%	$38K	$225K	10x	as long as short