Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0282%/8h= −30.9% APRnext payment −$0.35 per $10,000 · paid last 24h —

Price spread now: Aevo against Entropy+0.030%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Entropy Short on Aevo

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Aevo is 0.030% dearer against Entropy than usual: you sell high and buy low (spread +0.030% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	235.37	0.0386	pay 0.0048% / 1h	23m 12s	$10.2M	$3.2M	10x
Short	Aevo NBIS-PERP	235.44	0.0104	get 0.0013% / 1h	23m 12s	—	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aevo against Entropy. 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 EntropybpFee AevobpOrdersPrice spread, now +0.030%Rate

Funding earned: −$59.23
Price spread: +0.030% → 0.000%: $2.97
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee Aevo: 8 bp × 2 orders: −$16
Net: −$90.26
Costs to cover: 0.340%
Break-even: never at this rate

Slippage unknown: Entropy: live order book, 2 min ago; Aevo: no order-book sample. Net counts fees only.

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 Entropy live order book, 2 min ago	1.49 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Aevo no order-book sample	—	—	—	—	—

Aevo: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Nado NBIS-PERP	−0.0113%	1h	235.34	−0.012%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.52	+0.064%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.44	+0.030%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.48	+0.047%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.49	+0.051%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.61	+0.102%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.36	−0.004%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.51	+0.059%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.50	+0.055%	$1.6M	$957K	10x	as long as short
Variational Omni NBIS	+0.0005%	8h	235.42	+0.022%	$2.9M	$562K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin NBIS-USDT	+0.0038%	8h	235.40	+0.013%	$208K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.35	−0.008%	$1.5M	$4.3M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.28	−0.038%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.71	+0.144%	—	$216K	5x	as long as short
Aster NBISUSDT	+0.0048%	8h	235.37	+0.002%	$79K	$310K	50x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.37	0.000%	$54.9M	$19.8M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.38	+0.004%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.37	0.000%	$28	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.49	+0.051%	$161K	$503K	10x	as long as short
Binance NBISUSDT	+0.0052%	8h	235.54	+0.072%	$19.4M	$84.6M	25x	as long as short
Extended NBIS-USD	+0.0056%	1h	235.44	+0.029%	$150K	$705K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.35	−0.008%	$389K	$723K	10x	as long as short
Lighter NBIS	+0.0072%	1h	235.49	+0.051%	$902K	$4.1M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.22	−0.064%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.46	+0.038%	$2K	$3K	10x	as long as short
Aevo NBIS-PERPshort	+0.0104%	1h	235.44	+0.030%	—	—	10x
edgeX NBISUSDC	+0.0162%	4h	235.39	+0.008%	$38K	$226K	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.56	+0.081%	$7K	$150K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0345%	1h	235.46	+0.038%	$35K	$48K	10x	as long as short
Entropy io:NBISlong	+0.0386%	1h	235.37	long leg	$10.2M	$3.2M	10x
Kraken Futures PF_NBISUSD	+0.0476%	1h	235.50	+0.057%	$24K	$15K	20x	as long as short