Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0293%/8h= +32.0% APRpaid last 24h +0.100%

Price spread now: Entropy against Aster−0.078%7-day average +0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1501.495% of the position

Long on Aster Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.509%+$51 on $10k

Price spread, last 4 days (all we have)−0.045%−$5 · spread now −0.078%, 7d avg +0.082%

Together, before fees+0.464%+ Points / potential airdropAster: Stage 5 · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.159% cheaper against Aster than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of +0.082%). If the spread goes back, that is −$16 on $10k: about 44 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NBISUSDT	232.21	0	get 0.0000% / 8h	3h 01m	$78K	$309K	50x
Short	Entropy io:NBIS	232.03	0.0293	get 0.0037% / 1h	1m 06s	$10.1M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Aster. 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 AsterbpFee EntropybpOrdersPrice spread, now −0.078%Rate

Funding earned: $61.44
Price spread: −0.078% → +0.082%: −$15.91
Slippage, 4 orders: −$123.52
Fee Aster: 4 bp × 2 orders: −$8
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$104
Costs to cover: 1.495%
Break-even: 18.8 days

Slippage from Aster: live order book, 51 min ago; Entropy: live order book, 5 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 Aster live order book, 51 min ago	18.55 bp	90.7 bp −$91	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 5 min ago	1.51 bp	17.9 bp −$18	doesn't fit	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
Aster NBISUSDTlong	0.0000%	8h	232.21	long leg	$78K	$309K	50x
Extended NBIS-USD	0.0000%	1h	231.75	−0.200%	$145K	$734K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.87	−0.145%	$18.8M	$85.6M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.89	−0.138%	$4.9M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.90	−0.134%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.91	−0.129%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	231.89	−0.138%	$2.3M	$4.5M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	231.79	−0.179%	$2.9M	$552K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.41	+0.084%	$5K	$118K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.92	−0.125%	$965	$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
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	231.72	−0.211%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.87	−0.146%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.93	−0.121%	$1.6M	$956K	10x	as long as short
Nado NBIS-PERP	+0.0004%	1h	231.75	−0.198%	$38K	$115K	3x	as long as short
BloFin NBIS-USDT	+0.0026%	8h	231.88	−0.142%	$205K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0034%	1h	231.82	−0.168%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.96	−0.108%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.93	−0.121%	—	$217K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0049%	1h	231.79	−0.183%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	231.82	−0.168%	$54.0M	$20.2M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.72	−0.211%	$142K	$459K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.83	−0.164%	$102	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	232.20	−0.004%	$159K	$508K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.79	−0.181%	$478K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.82	−0.168%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.75	−0.196%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	232.30	+0.039%	$361K	$771K	10x	as long as short
Lighter NBIS	+0.0184%	1h	231.89	−0.138%	$917K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0239%	1h	232.36	+0.065%	$7K	$150K	10x	as long as short
Entropy io:NBISshort	+0.0293%	1h	232.03	−0.078%	$10.1M	$3.2M	10x
edgeX NBISUSDC	+0.0417%	4h	232.07	−0.062%	$37K	$227K	10x	as long as short