Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: Phemex against Vest+0.138%7-day average −0.441% · you sell dearer than you buy

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

Long on Vest Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.047%−$5 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.138%, 7d avg −0.441%

Together, before fees−0.199%+ Points / potential airdropVest: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.579% dearer against Vest than usual: you sell high and buy low (spread +0.138% now, against its 7-day average of −0.441%): +$58 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 42 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest NBIS-USD-PERP	232.14	0.0046	pay 0.0006% / 1h	10m 07s	—	$220K	5x
Short	Phemex NBISUSDT	232.46	0	get 0.0000% / 8h	2h 10m	$1.6M	$957K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Vest. 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 VestbpFee PhemexbpOrdersPrice spread, now +0.138%Rate

Funding earned: −$9.59
Price spread: +0.138% → −0.441%: $57.88
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: $34.29
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Phemex: 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 Vest no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	5.39 bp	47.1 bp −$47	doesn't fit	doesn't fit	doesn't fit

Vest: 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	−0.0483%	8h	232.32	+0.078%	$2.3M	$4.6M	20x	as long as short
BloFin NBIS-USDT	−0.0008%	8h	232.16	+0.009%	$204K	$206K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	232.31	+0.073%	$85K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.15	+0.002%	$146K	$753K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.42	+0.121%	$18.6M	$87.0M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.44	+0.129%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	232.41	+0.116%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.40	+0.112%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	232.26	+0.054%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.39	−0.324%	$5K	$117K	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-USDT	0.0000%	8h	232.17	+0.013%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	232.24	+0.043%	$15K	$61K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	232.46	+0.138%	$1.6M	$957K	10x
QFEX NBIS-USD	+0.0029%	1h	232.11	−0.013%	$1.5M	$3.9M	10x	as long as short
Nado NBIS-PERP	+0.0038%	1h	232.06	−0.033%	$38K	$115K	3x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.80	−0.146%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERPlong	+0.0046%	1h	232.14	long leg	—	$220K	5x
Polymarket Perps NBIS-USD	+0.0050%	1h	232.12	−0.009%	$138K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	232.09	−0.022%	$152K	$548K	10x	as long as short
edgeX NBISUSDC	+0.0060%	4h	231.91	−0.097%	$37K	$225K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.17	+0.013%	$479K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.30	+0.069%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.30	+0.067%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0110%	1h	232.32	+0.078%	$54.6M	$21.1M	10x	as long as short
SoDEX NBIS-USD	+0.0139%	1h	232.28	+0.060%	$102	$20K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	231.92	−0.095%	$351K	$815K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0222%	1h	232.24	+0.044%	$23K	$15K	20x	as long as short
Phoenix NBIS	+0.0242%	1h	231.99	−0.065%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0248%	1h	232.43	+0.125%	$940K	$4.0M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0310%	1h	232.15	+0.004%	$34K	$49K	10x	as long as short
Entropy io:NBIS	+0.0380%	1h	231.87	−0.116%	$10.1M	$3.2M	10x	as long as short