NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0120%/8h= −13.1% APRnext payment −$0.15 per $10,000 · paid last 24h −0.092%

Price spread now: Polymarket Perps against Entropy−0.133%7-day average −0.102% · you buy dearer than you sell

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on Entropy Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.584%−$58 on $10k

Price spread, last 3 days (all we have)+0.275%+$27 · spread now −0.133%, 7d avg −0.102%

Together, before fees−0.309%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Polymarket Perps is 0.031% cheaper against Entropy than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.102%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	232.99	0.0170	pay 0.0021% / 1h	7m 11s	$10.2M	$3.3M	10x
Short	Polymarket Perps NBIS-USD	232.68	0.0050	get 0.0006% / 1h	7m 11s	$137K	$635K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$25.15
Price spread: −0.133% → −0.102%: −$3.12
Slippage, 4 orders: −$19.98
Fee Entropy: 9 bp × 2 orders: −$18
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$74.25
Costs to cover: 0.460%
Break-even: never at this rate

Slippage from Entropy: live order book, 8 min ago; Polymarket Perps: live order book, 15 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, 8 min ago	0.43 bp	10.9 bp −$11	27.8 bp −$278	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 15 min ago	0.21 bp	5.9 bp −$6	6.3 bp −$63	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
Aster NBISUSDT	0.0000%	8h	232.94	−0.022%	$79K	$304K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.88	−0.047%	$141K	$697K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.94	−0.023%	$19.3M	$87.1M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.88	−0.047%	$5.1M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.00	+0.004%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.88	−0.047%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	232.97	−0.009%	$2.5M	$4.8M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.30	+0.133%	$2.8M	$945K	—	as long as short
SunX NBIS-USDT	0.0000%	8h	232.97	−0.009%	$431	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.40	+0.176%	$15K	$115K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NBISUSDT	0.0000%	8h	233.02	+0.013%	$1.6M	$965K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0002%	8h	233.27	+0.120%	$5K	$147K	10x	as long as short
BloFin NBIS-USDT	+0.0008%	8h	233.07	+0.034%	$205K	$216K	20x	as long as short
QFEX NBIS-USD	+0.0033%	1h	232.89	−0.043%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.79	−0.086%	$43K	$134K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.08	+0.039%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USDshort	+0.0050%	1h	232.68	−0.133%	$137K	$635K	10x
SoDEX NBIS-USD	+0.0050%	1h	232.95	−0.017%	$56	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.21	+0.094%	$180K	$514K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0057%	1h	232.75	−0.103%	$24K	$13K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.76	−0.099%	$480K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.96	−0.013%	$2K	$4K	10x	as long as short
Lighter NBIS	+0.0104%	1h	232.72	−0.116%	$932K	$4.6M	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.94	−0.024%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0136%	1h	232.99	0.000%	$355K	$704K	10x	as long as short
Entropy io:NBISlong	+0.0170%	1h	232.99	long leg	$10.2M	$3.3M	10x
tradeXYZ xyz:NBIS	+0.0172%	1h	232.80	−0.082%	$54.3M	$23.5M	10x	as long as short
Nado NBIS-PERP	+0.0178%	1h	232.55	−0.187%	$28K	$65K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0266%	1h	232.78	−0.090%	$35K	$67K	10x	as long as short
Phoenix NBIS	+0.0276%	1h	233.43	+0.189%	$7K	$185K	10x	as long as short
edgeX NBISUSDC	+0.0596%	4h	233.24	+0.105%	$37K	$234K	10x	as long as short