Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0401%/8h= −43.9% APRpaid last 24h −0.132%

Price spread now: Gate against Entropy+0.030%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on Entropy Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.489%−$49 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.030%, 7d avg −0.008%

Together, before fees−0.577%−$58 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.038% dearer against Entropy than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.008%): +$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	230.12	0.0401	pay 0.0050% / 1h	3m 19s	$10.0M	$3.2M	10x
Short	Gate NBIS_USDT	230.19	0	get 0.0000% / 8h	7h 03m	$2.7M	$5.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.030%Rate

Funding earned: −$84.2
Price spread: +0.030% → −0.008%: $3.8
Slippage, 4 orders: −$33.45
Fee Entropy: 9 bp × 2 orders: −$18
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$146.84
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from Entropy: live order book, 4 min ago; Gate: 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	0.65 bp	18.7 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.60 bp	19.3 bp −$19	103.3 bp −$1,033	292.3 bp −$29.2K	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	−0.0088%	8h	230.28	+0.070%	$2.3M	$4.6M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	230.78	+0.287%	$382K	$869K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	229.90	−0.098%	$74K	$320K	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.24	+0.052%	$3.2M	$16.3M	25x	as long as short
Gate NBIS_USDTshort	0.0000%	8h	230.19	+0.030%	$2.7M	$5.2M	50x
Variational Omni NBIS	0.0000%	8h	230.53	+0.179%	$2.8M	$598K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	230.17	+0.022%	$1K	$1.6M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.38	+0.113%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0008%	8h	230.34	+0.096%	$200K	$214K	20x	as long as short
Extended NBIS-USD	+0.0032%	1h	230.23	+0.048%	$144K	$856K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NBISUSDT	+0.0034%	8h	230.24	+0.052%	$18.5M	$90.1M	25x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.20	+0.035%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.18	+0.026%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.98	−0.061%	$137K	$467K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.33	+0.091%	$149K	$539K	10x	as long as short
QFEX NBIS-USD	+0.0064%	1h	230.24	+0.052%	$1.5M	$3.7M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.01	−0.048%	$473K	$94K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.20	+0.035%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.20	+0.036%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0126%	1h	229.97	−0.063%	$38K	$116K	3x	as long as short
HTX NBIS-USDT	+0.0153%	8h	230.57	+0.196%	$13K	$62K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0183%	1h	230.20	+0.035%	$53.9M	$21.8M	10x	as long as short
Bybit NBISUSDT	+0.0226%	8h	230.20	+0.035%	$4.8M	$6.8M	50x	as long as short
Lighter NBIS	+0.0232%	1h	230.26	+0.061%	$922K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	230.48	+0.156%	$7K	$125K	10x	as long as short
Entropy io:NBISlong	+0.0401%	1h	230.12	long leg	$10.0M	$3.2M	10x
Deribit NBIS_USDC-PERPETUAL	+0.0402%	1h	230.18	+0.026%	$34K	$50K	10x	as long as short
SoDEX NBIS-USD	+0.0416%	1h	230.32	+0.087%	$69	$20K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0678%	1h	230.24	+0.050%	$22K	$16K	20x	as long as short
edgeX NBISUSDC	+0.0741%	4h	230.53	+0.177%	$37K	$227K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0765%	8h	230.54	+0.183%	$5K	$114K	10x	as long as short