Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0317%/8h= −34.7% APRpaid last 24h +0.047%

Price spread now: edgeX against Entropy+0.021%48s7-day average −0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as 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−$710.713% of the position

Long on Entropy Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.326%+$33 on $10k

Price spread, last 4 days (all we have)+0.220%+$22 · spread now +0.021%, 7d avg −0.085%

Together, before fees+0.546%+ Points / potential airdropedgeX: Active · farm board+$55 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.106% dearer against Entropy than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.085%): +$11 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 27 hours. Mind the row above: over the last 7 days funding on this pair paid +0.326%, so the current rate has only just turned against you. 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	Entropy io:NBIS	233.20	0.0737	pay 0.0092% / 1h	53m 52s	$10.2M	$3.0M	10x
Short	edgeX NBISUSDC	233.25	0.0420	get 0.0210% / 4h	1h 53m	$37K	$226K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$66.63
Price spread: +0.021% → −0.085%: $10.62
Slippage, 4 orders: −$44.33
Fee Entropy: 9 bp × 2 orders: −$18
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$127.35
Costs to cover: 0.713%
Break-even: never at this rate

Slippage from Entropy: live order book, 6 min ago; edgeX: live order book, 56 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, 6 min ago	1.50 bp	20.4 bp −$20	37.5 bp −$375	doesn't fit	doesn't fit
Sell edgeX live order book, 56 min ago	6.72 bp	14.4 bp −$14	doesn't fit	doesn't fit	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	233.61	+0.176%	$3.3M	$16.5M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.53	+0.142%	$2.8M	$4.9M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.61	+0.176%	$2.3M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.24	+0.017%	$1K	$1.4M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.21	+0.004%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.60	+0.172%	$1.6M	$969K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.71	+0.219%	—	$250K	5x	as long as short
QFEX NBIS-USD	+0.0058%	1h	233.55	+0.150%	$1.6M	$3.6M	10x	as long as short
Variational Omni NBIS	+0.0063%	8h	233.08	−0.053%	$2.9M	$637K	—	as long as short
Bybit NBISUSDT	+0.0070%	8h	233.73	+0.227%	$5.2M	$6.8M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NBISUSDT	+0.0094%	8h	233.26	+0.024%	$75K	$312K	50x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.32	+0.051%	$473K	$174K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.50	+0.129%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.49	+0.122%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	232.69	−0.219%	$381K	$877K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0113%	1h	233.32	+0.051%	$154K	$523K	10x	as long as short
Binance NBISUSDT	+0.0132%	8h	233.64	+0.188%	$20.4M	$90.7M	25x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0136%	1h	233.44	+0.103%	$35K	$49K	10x	as long as short
Extended NBIS-USD	+0.0136%	1h	233.50	+0.128%	$149K	$846K	10x	as long as short
BloFin NBIS-USDT	+0.0145%	8h	233.28	+0.034%	$157K	$216K	20x	as long as short
Polymarket Perps NBIS-USD	+0.0167%	1h	233.57	+0.159%	$140K	$472K	10x	as long as short
Nado NBIS-PERP	+0.0217%	1h	233.33	+0.054%	$38K	$85K	3x	as long as short
Phoenix NBIS	+0.0347%	1h	233.04	−0.069%	$7K	$127K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0370%	1h	233.37	+0.073%	$22K	$11K	20x	as long as short
Arcus NBIS-USD	+0.0413%	1h	233.51	+0.133%	$42K	$119K	5x	as long as short
edgeX NBISUSDCshort	+0.0420%	4h	233.25	+0.021%	$37K	$226K	10x
GRVT NBIS_USDT_Perp	+0.0422%	8h	233.30	+0.044%	$4K	$102K	10x	as long as short
SoDEX NBIS-USD	+0.0436%	1h	233.58	+0.163%	$61	$19K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0460%	1h	233.63	+0.184%	$55.2M	$19.1M	10x	as long as short
Lighter NBIS	+0.0512%	1h	233.63	+0.184%	$943K	$3.8M	10x	as long as short
Entropy io:NBISlong	+0.0737%	1h	233.20	long leg	$10.2M	$3.0M	10x