Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0427%/8h= +46.7% APRpaid last 24h +0.106%

Price spread now: Entropy against BloFin−0.078%7-day average +0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$510.514% of the position

Long on BloFin Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.504%+$50 on $10k

Price spread, last 4 days (all we have)+0.182%+$18 · spread now −0.078%, 7d avg +0.074%

Together, before fees+0.686%+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.152% cheaper against BloFin than usual: you would sell low and buy high (spread −0.078% now, against its 7-day average of +0.074%). If the spread goes back, that is −$15 on $10k: about 29 hours of funding at the current rate (+$13 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NBIS-USDT	231.23	−0.0005	get 0.0005% / 8h	15m 16s	$204K	$212K	20x
Short	Entropy io:NBIS	231.05	0.0421	get 0.0053% / 1h	15m 16s	$10.1M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against BloFin. 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 BloFinbpFee EntropybpOrdersPrice spread, now −0.078%Rate

Funding earned: $89.61
Price spread: −0.078% → +0.074%: −$15.23
Slippage, 4 orders: −$21.43
Fee BloFin: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: $22.95
Costs to cover: 0.514%
Break-even: 5.2 days

Slippage from BloFin: live order book, 55 min ago; Entropy: live order book, 2 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 BloFin live order book, 55 min ago	0.22 bp	7.6 bp −$8	16.9 bp −$169	doesn't fit	doesn't fit
Sell Entropy live order book, 2 min ago	0.87 bp	16.1 bp −$16	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
Bitget NBISUSDT	−0.0386%	8h	231.20	−0.013%	$2.3M	$4.6M	20x	as long as short
BloFin NBIS-USDTlong	−0.0005%	8h	231.23	long leg	$204K	$212K	20x
Aster NBISUSDT	0.0000%	8h	231.23	0.000%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.14	−0.041%	$144K	$879K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.19	−0.017%	$18.8M	$87.9M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.20	−0.013%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.99	−0.104%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.18	−0.022%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.19	−0.018%	$2.8M	$589K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.20	−0.013%	$4K	$115K	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	231.20	−0.013%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.32	+0.039%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.19	−0.017%	$1.6M	$969K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.00	−0.099%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.18	−0.022%	$1.5M	$3.7M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.09	−0.061%	—	$223K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.10	−0.056%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.22	−0.004%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.363%	$353K	$805K	10x	as long as short
SoDEX NBIS-USD	+0.0062%	1h	231.14	−0.039%	$88	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.01	−0.095%	$476K	$24K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.22	−0.004%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.16	−0.032%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0114%	1h	231.08	−0.065%	$54.1M	$21.2M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0183%	1h	231.13	−0.043%	$34K	$49K	10x	as long as short
Nado NBIS-PERP	+0.0185%	1h	231.02	−0.089%	$38K	$116K	3x	as long as short
Lighter NBIS	+0.0280%	1h	231.13	−0.043%	$942K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0312%	1h	231.02	−0.091%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0358%	4h	231.31	+0.036%	$37K	$228K	10x	as long as short
Entropy io:NBISshort	+0.0421%	1h	231.05	−0.078%	$10.1M	$3.1M	10x
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.13	−0.044%	$23K	$15K	20x	as long as short