Funding you earn now, next payment 23:00 UTC−0.0364%/8h= −39.8% APRpaid last 24h −0.128%
Price spread now: Phemex against Entropy+0.060%7-day average −0.091% · you sell dearer than you buy
Net, funding: paid 7d − costs−$168as in the Funding arb table
Net, price: spread back to 7d avg − costs−$86as in the Price arb table
costs, in and out, $10k−$1011.015% of the position
Funding, last 7 days−0.662%−$66 on $10k
+Price spread, last 3 days (all we have)−0.116%−$12 · spread now +0.060%, 7d avg −0.091%
=The price spread pays, funding is against you. Phemex is 0.151% dearer against Entropy than usual: you sell high and buy low (spread +0.060% now, against its 7-day average of −0.091%): +$15 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 33 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Entropy io:NBIS | 232.93 | 0.0364 | pay 0.0045% / 1h | 59m 43s | $10.2M | $3.3M | 10x |
| Short | Phemex NBISUSDT | 233.07 | 0 | get 0.0000% / 8h | 1h 59m | $1.6M | $967K | 10x |
Entropy io:NBIS
Phemex NBISUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Entropy. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$76.4
- Price spread: +0.060% → −0.091%
- $15.15
- Slippage, 4 orders
- −$71.49
- Fee Entropy: 9 bp × 2 orders
- −$18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$162.74
- Costs to cover
- 1.015%
- Break-even
- never at this rate
Slippage from Entropy: live order book, 6 min ago; Phemex: live order book, 3 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 | 1.29 bp | 12.1 bp −$12 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 1.93 bp | 34.0 bp −$34 | doesn't fit | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit NBIS_USDC-PERPETUAL | −0.0179% | 1h | 232.84 | −0.039% | $35K | $48K | 10x | as long as short |
| BloFin NBIS-USDT | −0.0004% | 8h | 233.06 | +0.056% | $206K | $216K | 20x | as long as short |
| Aster NBISUSDT | 0.0000% | 8h | 233.00 | +0.030% | $79K | $304K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 232.98 | +0.021% | $141K | $697K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 233.03 | +0.044% | $19.3M | $87.2M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 232.93 | 0.000% | $5.1M | $6.7M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 233.01 | +0.034% | $3.4M | $17.0M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 232.98 | +0.021% | $2.8M | $5.3M | 50x | as long as short |
| Bitget NBISUSDT | 0.0000% | 8h | 233.07 | +0.060% | $2.5M | $4.8M | 20x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 233.01 | +0.036% | $2.8M | $945K | — | as long as short |
Deribit NBIS_USDC-PERPETUAL
BloFin NBIS-USDT
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
Variational Omni NBISShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SunX NBIS-USDT | 0.0000% | 8h | 232.93 | 0.000% | $519 | $1.8M | 10x | as long as short |
| HTX NBIS-USDT | 0.0000% | 8h | 232.97 | +0.017% | $15K | $115K | 20x | as long as short |
| Phemex NBISUSDTshort | 0.0000% | 8h | 233.07 | +0.060% | $1.6M | $967K | 10x | |
| GRVT NBIS_USDT_Perp | +0.0007% | 8h | 232.99 | +0.028% | $5K | $147K | 10x | as long as short |
| QFEX NBIS-USD | +0.0033% | 1h | 232.96 | +0.013% | $1.5M | $5.1M | 10x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 232.99 | +0.026% | $44K | $134K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 233.10 | +0.073% | — | $234K | 5x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 233.05 | +0.052% | $139K | $637K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 233.05 | +0.052% | $51 | $20K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 232.88 | −0.021% | $180K | $513K | 10x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0057% | 1h | 233.02 | +0.038% | $24K | $13K | 20x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 232.85 | −0.034% | $480K | $25K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 232.99 | +0.026% | $2K | $4K | 10x | as long as short |
| Lighter NBIS | +0.0104% | 1h | 233.07 | +0.060% | $933K | $4.6M | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 232.98 | +0.022% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0136% | 1h | 233.02 | +0.039% | $356K | $705K | 10x | as long as short |
| edgeX NBISUSDC | +0.0163% | 4h | 232.92 | −0.002% | $37K | $235K | 10x | as long as short |
| Nado NBIS-PERP | +0.0191% | 1h | 233.00 | +0.028% | $28K | $65K | 3x | as long as short |
| Phoenix NBIS | +0.0276% | 1h | 233.27 | +0.146% | $7K | $185K | 10x | as long as short |
| tradeXYZ xyz:NBIS | +0.0317% | 1h | 233.01 | +0.034% | $54.4M | $23.5M | 10x | as long as short |
| Entropy io:NBISlong | +0.0364% | 1h | 232.93 | long leg | $10.2M | $3.3M | 10x |
SunX NBIS-USDT
HTX NBIS-USDT
GRVT NBIS_USDT_Perp
QFEX NBIS-USD
Arcus NBIS-USD
Vest NBIS-USD-PERP
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
Kraken Futures PF_NBISUSD
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Lighter NBIS
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
edgeX NBISUSDC
Nado NBIS-PERP
Phoenix NBIS
tradeXYZ xyz:NBIS