Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0053%/8h= +5.8% APRpaid last 24h −0.017%

Price spread now: Entropy against edgeX+0.014%48s7-day average +0.097% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.586% of the position

Long on edgeX Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 3 days (all we have)−0.143%−$14 · spread now +0.014%, 7d avg +0.097%

Together, before fees−0.264%+ Points / potential airdropedgeX: Active · farm board−$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.082% cheaper against edgeX than usual: you would sell low and buy high (spread +0.014% now, against its 7-day average of +0.097%). If the spread goes back, that is −$8 on $10k: about 5.2 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.121%, so the current rate has only just turned in your favour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NBISUSDC	234.77	0.0431	pay 0.0215% / 4h	21m 50s	$38K	$234K	10x
Short	Entropy io:NBIS	234.80	0.0484	get 0.0060% / 1h	21m 50s	$10.3M	$3.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against edgeX. 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 edgeXbpFee EntropybpOrdersPrice spread, now +0.014%Rate

Funding earned: $11.07
Price spread: +0.014% → +0.097%: −$8.25
Slippage, 4 orders: −$31.64
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$55.82
Costs to cover: 0.586%
Break-even: 42.3 days

Slippage from edgeX: live order book, 55 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 edgeX live order book, 55 min ago	5.56 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 5 min ago	0.85 bp	13.9 bp −$14	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
Bybit NBISUSDT	0.0000%	8h	234.84	+0.031%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.92	+0.065%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.82	+0.023%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.86	+0.040%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.78	+0.006%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.70	−0.029%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	233.76	−0.429%	$358K	$676K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.82	+0.023%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.91	+0.061%	$1.6M	$973K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.00	+0.099%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	234.84	+0.031%	$149K	$723K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.83	+0.027%	$28	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.75	−0.007%	$1.5M	$5.2M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.61	−0.067%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.79	+0.010%	$2K	$3K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0102%	1h	234.65	−0.050%	$174K	$499K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.85	+0.033%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0195%	1h	234.68	−0.039%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0218%	8h	234.82	+0.022%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0235%	8h	234.57	−0.085%	$79K	$306K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.55	−0.094%	$24K	$14K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0252%	8h	234.83	+0.027%	$5K	$139K	10x	as long as short
Binance NBISUSDT	+0.0253%	8h	234.87	+0.044%	$19.4M	$86.5M	25x	as long as short
Extended NBIS-USD	+0.0256%	1h	234.81	+0.020%	$144K	$699K	10x	as long as short
BloFin NBIS-USDT	+0.0267%	8h	234.83	+0.027%	$207K	$214K	20x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.77	+0.001%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0305%	1h	234.89	+0.052%	$54.8M	$23.4M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.05	+0.121%	$7K	$163K	10x	as long as short
Lighter NBIS	+0.0384%	1h	234.96	+0.082%	$933K	$4.6M	10x	as long as short
edgeX NBISUSDClong	+0.0431%	4h	234.77	long leg	$38K	$234K	10x
Entropy io:NBISshort	+0.0484%	1h	234.80	+0.014%	$10.3M	$3.4M	10x