NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0237%/8h= −25.9% APRnext payment −$0.30 per $10,000 · paid last 24h −0.107%

Price spread now: Arcus against Entropy−0.009%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$470.467% of the position

Long on Entropy Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)−0.005%$0 · spread now −0.009%, 7d avg −0.099%

Together, before fees−0.002%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.091% dearer against Entropy than usual: you sell high and buy low (spread −0.009% now, against its 7-day average of −0.099%): +$9 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 31 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.003% in total (about 0.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.30 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	Entropy io:NBIS	234.83	0.0506	pay 0.0063% / 1h	26m 44s	$10.3M	$3.4M	10x
Short	Arcus NBIS-USD	234.81	0.0269	get 0.0034% / 1h	26m 44s	$44K	$134K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus 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 ArcusbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$49.76
Price spread: −0.009% → −0.099%: $9.1
Slippage, 4 orders: −$24.19
Fee Entropy: 9 bp × 2 orders: −$18
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$87.35
Costs to cover: 0.467%
Break-even: never at this rate

Slippage from Entropy: live order book, 10 min ago; Arcus: live order book, 51 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 Entropy live order book, 10 min ago	1.49 bp	16.1 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 51 min ago	4.06 bp	8.4 bp −$8	12.3 bp −$123	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	234.74	−0.038%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.84	+0.004%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.79	−0.017%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.79	−0.017%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.81	−0.009%	$862	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.69	−0.060%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	233.76	−0.456%	$358K	$676K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.78	−0.021%	$15K	$115K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.81	−0.009%	$1.6M	$971K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.96	+0.055%	—	$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	234.81	−0.009%	$149K	$723K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.79	−0.017%	$33	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.73	−0.043%	$1.5M	$5.1M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.61	−0.094%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.81	−0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.83	−0.001%	—	—	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0131%	1h	234.66	−0.072%	$174K	$499K	10x	as long as short
Nado NBIS-PERP	+0.0200%	1h	234.69	−0.058%	$28K	$63K	3x	as long as short
Variational Omni NBIS	+0.0210%	8h	234.91	+0.035%	$2.9M	$822K	—	as long as short
Aster NBISUSDT	+0.0233%	8h	234.55	−0.119%	$79K	$306K	50x	as long as short
Extended NBIS-USD	+0.0248%	1h	234.80	−0.014%	$142K	$697K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0248%	8h	234.84	+0.003%	$5K	$140K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0248%	1h	234.49	−0.146%	$24K	$14K	20x	as long as short
Binance NBISUSDT	+0.0250%	8h	234.84	+0.004%	$19.4M	$86.5M	25x	as long as short
BloFin NBIS-USDT	+0.0260%	8h	234.86	+0.013%	$207K	$214K	20x	as long as short
Arcus NBIS-USDshort	+0.0269%	1h	234.81	−0.009%	$44K	$134K	5x
tradeXYZ xyz:NBIS	+0.0315%	1h	234.89	+0.026%	$54.8M	$23.4M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	234.90	+0.030%	$7K	$163K	10x	as long as short
Lighter NBIS	+0.0400%	1h	234.97	+0.060%	$931K	$4.6M	10x	as long as short
Entropy io:NBISlong	+0.0506%	1h	234.83	long leg	$10.3M	$3.4M	10x
edgeX NBISUSDC	+0.0943%	4h	234.82	−0.005%	$38K	$234K	10x	as long as short