Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0718%/8h= +78.6% APRpaid last 24h +0.167%

Price spread now: Entropy against Bitget+0.096%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$610.613% of the position

Long on Bitget Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.485%+$48 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.096%, 7d avg +0.021%

Together, before fees+0.447%+$45 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and Entropy is 0.075% dearer against Bitget than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.021%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.485% in total (about 25.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget NBISUSDT	229.58	−0.0330	get 0.0330% / 8h	7h 50m	$2.3M	$4.5M	20x
Short	Entropy io:NBIS	229.80	0.0388	get 0.0048% / 1h	50m 36s	$10.0M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Bitget. 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 BitgetbpFee EntropybpOrdersPrice spread, now +0.096%Rate

Funding earned: $150.74
Price spread: +0.096% → +0.021%: $7.51
Slippage, 4 orders: −$31.33
Fee Bitget: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: $96.92
Costs to cover: 0.613%
Break-even: 2.5 days

Slippage from Bitget: live order book, 2 min ago; Entropy: 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 Bitget live order book, 2 min ago	2.18 bp	17.8 bp −$18	26.0 bp −$260	44.3 bp −$4,431	doesn't fit
Sell Entropy live order book, 6 min ago	0.87 bp	11.6 bp −$12	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
GRVT NBIS_USDT_Perp	−0.0686%	8h	229.56	−0.008%	$4K	$114K	10x	as long as short
Bitget NBISUSDTlong	−0.0330%	8h	229.58	long leg	$2.3M	$4.5M	20x
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	230.90	+0.575%	$357K	$810K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	229.40	−0.079%	$83K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	229.55	−0.012%	$147K	$880K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	229.40	−0.078%	$18.6M	$88.0M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	229.52	−0.026%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	229.33	−0.109%	$3.3M	$15.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	229.72	+0.061%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.15	+0.249%	$2.8M	$575K	—	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	230.12	+0.235%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	229.84	+0.113%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.05	+0.205%	$1.5M	$972K	10x	as long as short
BloFin NBIS-USDT	+0.0006%	8h	230.16	+0.253%	$204K	$214K	20x	as long as short
Ondo Perps NBIS-USD.P	+0.0027%	1h	230.00	+0.183%	$148K	$539K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	229.50	−0.035%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	229.69	+0.048%	—	$224K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.74	+0.070%	$136K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	229.82	+0.105%	$55	$20K	10x	as long as short
QFEX NBIS-USD	+0.0064%	1h	229.55	−0.013%	$1.5M	$3.7M	10x	as long as short
Nado NBIS-PERP	+0.0083%	1h	229.61	+0.013%	$38K	$116K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0084%	1h	229.80	+0.096%	$53.7M	$21.3M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	229.61	+0.013%	$472K	$42K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	229.56	−0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	229.51	−0.030%	—	—	10x	as long as short
edgeX NBISUSDC	+0.0195%	4h	229.58	−0.001%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0208%	1h	229.75	+0.074%	$922K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	228.94	−0.279%	$7K	$125K	10x	as long as short
Entropy io:NBISshort	+0.0388%	1h	229.80	+0.096%	$10.0M	$3.1M	10x
Deribit NBIS_USDC-PERPETUAL	+0.0533%	1h	230.08	+0.218%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0678%	1h	230.01	+0.187%	$22K	$16K	20x	as long as short