Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0434%/8h= −47.5% APRpaid last 24h −0.141%

Price spread now: Bitget against Entropy+0.030%45s7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as 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−$620.618% of the position

Long on Entropy Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.478%−$48 on $10k

Price spread, last 7 days−0.113%−$11 · spread now +0.030%, 7d avg −0.024%

Together, before fees−0.590%−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.053% dearer against Entropy than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.024%): +$5 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 10 hours. The two prices were read 45 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	Entropy io:NBIS	234.20	0.0434	pay 0.0054% / 1h	22m 55s	$10.2M	$3.3M	10x
Short	Bitget NBISUSDT	234.27	0	get 0.0000% / 8h	6h 22m	$2.4M	$4.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$91.09
Price spread: +0.030% → −0.024%: $5.35
Slippage, 4 orders: −$31.78
Fee Entropy: 9 bp × 2 orders: −$18
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$147.52
Costs to cover: 0.618%
Break-even: never at this rate

Slippage from Entropy: live order book, 4 min ago; Bitget: 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 Entropy live order book, 4 min ago	1.49 bp	15.9 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	1.07 bp	16.7 bp −$17	35.6 bp −$356	57.8 bp −$5,778	doesn't fit

NBIS on 30 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	234.30	+0.043%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.26	+0.026%	$3.4M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.26	+0.026%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDTshort	0.0000%	8h	234.27	+0.030%	$2.4M	$4.5M	20x
GRVT NBIS_USDT_Perp	0.0000%	8h	234.30	+0.043%	$5K	$129K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.42	+0.094%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.19	−0.004%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.47	+0.115%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.23	+0.013%	$1.6M	$972K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	234.26	+0.026%	$1.5M	$4.6M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	234.13	−0.030%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.46	+0.111%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.20	0.000%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.18	−0.009%	$47	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.27	+0.030%	$164K	$499K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0072%	1h	234.09	−0.047%	$54.7M	$19.9M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	234.15	−0.023%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.22	+0.009%	$483K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.26	+0.026%	$2K	$3K	10x	as long as short
Nado NBIS-PERP	+0.0103%	1h	234.31	+0.046%	$67K	$95K	3x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.21	+0.004%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	233.89	−0.132%	$383K	$714K	10x	as long as short
Variational Omni NBIS	+0.0191%	8h	234.40	+0.084%	$2.8M	$571K	—	as long as short
Aster NBISUSDT	+0.0203%	8h	234.52	+0.136%	$81K	$314K	50x	as long as short
Extended NBIS-USD	+0.0216%	1h	234.19	−0.005%	$150K	$701K	10x	as long as short
Binance NBISUSDT	+0.0220%	8h	234.26	+0.026%	$19.2M	$84.8M	25x	as long as short
Lighter NBIS	+0.0280%	1h	234.22	+0.009%	$904K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.32	+0.051%	$7K	$152K	10x	as long as short
Entropy io:NBISlong	+0.0434%	1h	234.20	long leg	$10.2M	$3.3M	10x
edgeX NBISUSDC	+0.0655%	4h	234.22	+0.007%	$38K	$226K	10x	as long as short