Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0320%/8h= +35.0% APRpaid last 24h +0.092%

Price spread now: Lighter against SunX+0.095%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1291.293% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.551%+$55 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now +0.095%, 7d avg +0.059%

Together, before fees+0.570%+ Points / potential airdropLighter: Season 3 · farm board+$57 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Lighter is 0.036% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	231.18	0	get 0.0000% / 8h	1h 51m	$1K	$1.6M	10x
Short	Lighter NBIS	231.40	0.0320	get 0.0040% / 1h	51m 08s	$942K	$3.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.095%Rate

Funding earned: $67.2
Price spread: +0.095% → +0.059%: $3.63
Slippage, 4 orders: −$121.32
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$58.49
Costs to cover: 1.293%
Break-even: 13.1 days

Slippage from SunX: live order book, 4 min ago; Lighter: live order book, 6 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 SunX live order book, 4 min ago	44.96 bp	63.6 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.43 bp	0.8 bp −$1	4.6 bp −$46	88.6 bp −$8,858	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	−0.0402%	8h	231.41	+0.099%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0001%	8h	231.20	+0.009%	$204K	$206K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.15	−0.013%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.11	−0.032%	$145K	$736K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.26	+0.036%	$18.6M	$87.2M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.34	+0.069%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.27	+0.039%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.35	+0.074%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.22	+0.019%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.37	+0.083%	$5K	$116K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDTlong	0.0000%	8h	231.18	long leg	$1K	$1.6M	10x
HTX NBIS-USDT	0.0000%	8h	231.31	+0.056%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.38	+0.087%	$1.6M	$961K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.18	0.000%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.09	−0.039%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.08	−0.043%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.18	0.000%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.24	+0.026%	$151K	$548K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	231.14	−0.017%	$1.5M	$3.9M	10x	as long as short
edgeX NBISUSDC	+0.0098%	4h	231.34	+0.069%	$37K	$226K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.08	−0.043%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.16	−0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.14	−0.018%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0118%	1h	231.04	−0.060%	$38K	$115K	3x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	231.07	−0.048%	$351K	$813K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0140%	1h	231.09	−0.039%	$34K	$49K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0195%	1h	231.24	+0.026%	$54.3M	$21.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	231.41	+0.099%	$7K	$150K	10x	as long as short
Lighter NBISshort	+0.0320%	1h	231.40	+0.095%	$942K	$3.9M	10x
Entropy io:NBIS	+0.0503%	1h	231.28	+0.043%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0684%	1h	231.15	−0.014%	$23K	$15K	20x	as long as short