Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0384%/8h= −42.1% APRpaid last 24h −0.103%

Price spread now: Binance against Entropy+0.028%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$440.443% of the position

Long on Entropy Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.494%−$49 on $10k

Price spread, last 7 days−0.100%−$10 · spread now +0.028%, 7d avg −0.011%

Together, before fees−0.594%−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.039% dearer against Entropy than usual: you sell high and buy low (spread +0.028% now, against its 7-day average of −0.011%): +$4 on $10k if it goes back. Holding the pair costs −$12 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	229.39	0.0384	pay 0.0048% / 1h	45m 14s	$10.0M	$3.1M	10x
Short	Binance NBISUSDT	229.46	0	get 0.0000% / 8h	7h 45m	$18.6M	$88.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.028%Rate

Funding earned: −$80.65
Price spread: +0.028% → −0.011%: $3.9
Slippage, 4 orders: −$16.33
Fee Entropy: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$121.09
Costs to cover: 0.443%
Break-even: never at this rate

Slippage from Entropy: live order book, 12 min ago; Binance: live order book, 12 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, 12 min ago	0.87 bp	13.1 bp −$13	37.7 bp −$377	doesn't fit	doesn't fit
Sell Binance live order book, 12 min ago	0.22 bp	9.5 bp −$9	25.4 bp −$254	118.4 bp −$11.8K	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	−0.0309%	8h	229.65	+0.113%	$2.3M	$4.5M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	229.39	0.000%	$355K	$806K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	229.47	+0.034%	$84K	$313K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	229.41	+0.009%	$147K	$880K	10x	as long as short
Binance NBISUSDTshort	0.0000%	8h	229.46	+0.028%	$18.6M	$88.4M	25x
Bybit NBISUSDT	0.0000%	8h	229.46	+0.031%	$4.9M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	229.48	+0.039%	$3.2M	$15.9M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	229.36	−0.013%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	229.08	−0.136%	$2.8M	$576K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	229.72	+0.146%	$4K	$114K	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	229.52	+0.057%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	229.36	−0.013%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	229.59	+0.087%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0006%	8h	229.47	+0.035%	$203K	$213K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0012%	1h	229.37	−0.009%	$34K	$49K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	229.29	−0.044%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	229.18	−0.092%	—	$224K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.26	−0.057%	$136K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	229.36	−0.013%	$55	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	229.44	+0.022%	$148K	$539K	10x	as long as short
QFEX NBIS-USD	+0.0064%	1h	229.41	+0.009%	$1.5M	$3.7M	10x	as long as short
Nado NBIS-PERP	+0.0076%	1h	229.11	−0.123%	$38K	$116K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0083%	1h	229.34	−0.022%	$53.5M	$21.4M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	229.19	−0.087%	$472K	$48K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	229.45	+0.026%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	229.40	+0.006%	—	—	10x	as long as short
Lighter NBIS	+0.0184%	1h	229.45	+0.026%	$917K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	229.23	−0.070%	$7K	$125K	10x	as long as short
Entropy io:NBISlong	+0.0384%	1h	229.39	long leg	$10.0M	$3.1M	10x
edgeX NBISUSDC	+0.0440%	4h	229.75	+0.156%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0680%	1h	229.49	+0.042%	$22K	$16K	20x	as long as short