Funding you earn now, next payment 04:00 UTC+0.0267%/8h= +29.2% APRnext payment +$0.33 per $10,000 · paid last 24h +0.062%
Price spread now: Entropy against Coinbase International−0.030%7-day average 0.000% · you buy dearer than you sell
Net, funding: paid 7d − costs−$40as in the Funding arb table
Net, price: spread back to 7d avg − costs−$56as in the Price arb table
costs, in and out, $10k−$530.534% of the position
Funding, last 7 days+0.130%+$13 on $10k
+Price spread, last 4 days (all we have)−0.061%−$6 · spread now −0.030%, 7d avg 0.000%
=Funding pays, the price is against you. Entropy is 0.030% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.030% now, against its 7-day average of 0.000%). If the spread goes back, that is −$3 on $10k: about 9 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.130% in total) that is about 39 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.130% in total (about 6.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.33 per $10,000. 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 | Coinbase International NBIS-PERP-INTX | 234.20 | 0.0104 | pay 0.0013% / 1h | 27m 08s | $375K | $736K | 10x |
| Short | Entropy io:NBIS | 234.13 | 0.0371 | get 0.0046% / 1h | 27m 08s | $10.2M | $3.2M | 10x |
Coinbase International NBIS-PERP-INTX
Entropy io:NBISFunding history
latest
Range statsloading…
Price spread between the two exchanges
Entropy against Coinbase International. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $56.04
- Price spread: −0.030% → 0.000%
- −$3.04
- Slippage, 4 orders
- −$25.37
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Fee Entropy: 9 bp × 2 orders
- −$18
- Net
- −$0.37
- Costs to cover
- 0.534%
- Break-even
- 7.0 days
Slippage from Coinbase International: live order book, 26 min ago; Entropy: live order book, 10 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 Coinbase International live order book, 26 min ago | 2.99 bp | 8.9 bp −$9 | 16.6 bp −$166 | doesn't fit | doesn't fit |
| Sell Entropy live order book, 10 min ago | 1.50 bp | 20.8 bp −$21 | 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 NBISUSDT | 0.0000% | 8h | 234.25 | +0.019% | $79K | $310K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 233.99 | −0.091% | $147K | $699K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 234.01 | −0.083% | $19.2M | $84.8M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 233.98 | −0.094% | $5.0M | $6.3M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 233.82 | −0.162% | $3.4M | $16.2M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 234.03 | −0.073% | $2.7M | $5.0M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 233.92 | −0.120% | $2.4M | $4.4M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 234.33 | +0.055% | $2.9M | $555K | — | as long as short |
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 234.17 | −0.014% | $4K | $119K | 10x | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 234.21 | +0.004% | $998 | $1.6M | 10x | as long as short |
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
Variational Omni NBIS
GRVT NBIS_USDT_Perp
SunX NBIS-USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Deribit NBIS_USDC-PERPETUAL | 0.0000% | 1h | 233.99 | −0.090% | $35K | $49K | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 234.38 | +0.077% | $15K | $60K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 234.05 | −0.064% | $1.6M | $954K | 10x | as long as short |
| BloFin NBIS-USDT | +0.0028% | 8h | 234.00 | −0.085% | $206K | $206K | 20x | as long as short |
| QFEX NBIS-USD | +0.0034% | 1h | 234.19 | −0.004% | $1.5M | $4.0M | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 234.00 | −0.085% | $42K | $132K | 5x | as long as short |
| Nado NBIS-PERP | +0.0040% | 1h | 234.09 | −0.048% | $38K | $115K | 3x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 234.33 | +0.056% | — | $216K | 5x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0048% | 1h | 233.97 | −0.097% | $23K | $15K | 20x | as long as short |
| tradeXYZ xyz:NBIS | +0.0050% | 1h | 233.85 | −0.149% | $54.5M | $20.1M | 10x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 234.01 | −0.081% | $147K | $456K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 233.99 | −0.090% | $94 | $21K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 234.15 | −0.021% | $160K | $502K | 10x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 234.02 | −0.077% | $482K | $20K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 234.04 | −0.068% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 233.99 | −0.090% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTXlong | +0.0104% | 1h | 234.20 | long leg | $375K | $736K | 10x | |
| Phoenix NBIS | +0.0239% | 1h | 234.06 | −0.060% | $7K | $150K | 10x | as long as short |
| Lighter NBIS | +0.0248% | 1h | 234.03 | −0.073% | $927K | $3.9M | 10x | as long as short |
| Entropy io:NBISshort | +0.0371% | 1h | 234.13 | −0.030% | $10.2M | $3.2M | 10x | |
| edgeX NBISUSDC | +0.0493% | 4h | 234.15 | −0.021% | $38K | $225K | 10x | as long as short |
Deribit NBIS_USDC-PERPETUAL
HTX NBIS-USDT
Phemex NBISUSDT
BloFin NBIS-USDT
QFEX NBIS-USD
Arcus NBIS-USD
Nado NBIS-PERP
Vest NBIS-USD-PERP
Kraken Futures PF_NBISUSD
tradeXYZ xyz:NBIS
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Phoenix NBIS
Lighter NBIS
edgeX NBISUSDC