Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0473%/8h= −51.8% APRpaid last 24h −0.137%

Price spread now: OKX against Entropy+0.013%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$500.502% of the position

Long on Entropy Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.559%−$56 on $10k

Price spread, last 7 days−0.089%−$9 · spread now +0.013%, 7d avg −0.028%

Together, before fees−0.648%−$65 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.040% dearer against Entropy than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.028%): +$4 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	234.07	0.0473	pay 0.0059% / 1h	53m 48s	$10.2M	$3.3M	10x
Short	OKX NBIS-USDT-SWAP	234.10	0	get 0.0000% / 8h	5h 53m	$3.4M	$16.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.013%Rate

Funding earned: −$99.4
Price spread: +0.013% → −0.028%: $4.04
Slippage, 4 orders: −$22.18
Fee Entropy: 9 bp × 2 orders: −$18
Fee OKX: 5 bp × 2 orders: −$10
Net: −$145.54
Costs to cover: 0.502%
Break-even: never at this rate

Slippage from Entropy: live order book, 3 min ago; OKX: 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, 3 min ago	0.85 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	1.07 bp	9.2 bp −$9	28.4 bp −$284	doesn't fit	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	234.11	+0.017%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAPshort	0.0000%	8h	234.10	+0.013%	$3.4M	$16.2M	25x
Gate NBIS_USDT	0.0000%	8h	234.16	+0.038%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.10	+0.013%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.04	−0.013%	$5K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.08	+0.004%	$904	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.07	0.000%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.07	0.000%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.14	+0.030%	$1.6M	$968K	10x	as long as short
QFEX NBIS-USD	+0.0023%	1h	234.16	+0.038%	$1.5M	$4.4M	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	233.94	−0.056%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.29	+0.094%	—	$215K	5x	as long as short
Nado NBIS-PERP	+0.0047%	1h	234.06	−0.005%	$67K	$95K	3x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.06	−0.004%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.07	0.000%	$5	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.10	+0.013%	$163K	$496K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.04	−0.013%	$482K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.13	+0.026%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.11	+0.017%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.231%	$382K	$712K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0110%	1h	234.04	−0.013%	$54.6M	$19.7M	10x	as long as short
Variational Omni NBIS	+0.0132%	8h	234.03	−0.019%	$2.8M	$570K	—	as long as short
Aster NBISUSDT	+0.0149%	8h	234.32	+0.105%	$81K	$307K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.15	+0.035%	$23K	$15K	20x	as long as short
Extended NBIS-USD	+0.0160%	1h	234.02	−0.021%	$147K	$698K	10x	as long as short
Binance NBISUSDT	+0.0160%	8h	234.11	+0.017%	$19.1M	$84.7M	25x	as long as short
edgeX NBISUSDC	+0.0187%	4h	234.02	−0.023%	$38K	$226K	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.19	+0.051%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0352%	1h	234.15	+0.034%	$904K	$4.3M	10x	as long as short
Entropy io:NBISlong	+0.0473%	1h	234.07	long leg	$10.2M	$3.3M	10x