Funding you earn now, next payment 01:00 UTC+0.0577%/8h= +63.2% APRnext payment +$0.72 per $10,000 · paid last 24h +0.024%
Price spread now: Entropy against Lighter−0.186%7-day average +0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$64as in the Price arb table
costs, in and out, $10k−$440.445% of the position
Funding, last 7 days+0.089%+$9 on $10k
+Price spread, last 7 days+0.225%+$23 · spread now −0.186%, 7d avg +0.006%
=Together, before fees+0.314%+ Points / potential airdropLighter: Season 3 · farm board+$31 on $10k · with fees, hour by hour
Funding pays, the price is against you. Entropy is 0.192% cheaper against Lighter than usual: you would sell low and buy high (spread −0.186% now, against its 7-day average of +0.006%). If the spread goes back, that is −$19 on $10k: about 27 hours of funding at the current rate (+$17 a day). At the pace of the last 7 days (+0.089% in total) that is about 15 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.089% in total (about 4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.72 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter NBIS | 236.36 | 0.0328 | pay 0.0041% / 1h | 28m 41s | $930K | $4.5M | 10x |
| Short | Entropy io:NBIS | 235.92 | 0.0905 | get 0.0113% / 1h | 28m 41s | $10.3M | $3.4M | 10x |
Lighter NBIS
Entropy io:NBISFunding history
latest
Range statsloading…
Price spread between the two exchanges
Entropy against Lighter. 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
- $121.12
- Price spread: −0.186% → +0.006%
- −$19.21
- Slippage, 4 orders
- −$26.47
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Entropy: 9 bp × 2 orders
- −$18
- Net
- $57.44
- Costs to cover
- 0.445%
- Break-even
- 3.7 days
Slippage from Lighter: live order book, 4 min ago; Entropy: live order book, 8 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 Lighter live order book, 4 min ago | 0.64 bp | 0.9 bp −$1 | 2.8 bp −$28 | 68.7 bp −$6,869 | doesn't fit |
| Sell Entropy live order book, 8 min ago | 1.91 bp | 21.3 bp −$21 | 48.9 bp −$489 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_NBISUSD | −0.0178% | 1h | 235.93 | −0.183% | $24K | $15K | 20x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 236.39 | +0.013% | $3.4M | $16.8M | 25x | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 236.05 | −0.131% | $1K | $1.7M | 10x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 236.08 | −0.118% | $1.6M | $973K | 10x | as long as short |
| HTX NBIS-USDT | +0.0003% | 8h | 235.80 | −0.237% | $15K | $112K | 20x | as long as short |
| Gate NBIS_USDT | +0.0004% | 8h | 236.13 | −0.097% | $2.8M | $5.1M | 50x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0016% | 1h | 236.05 | −0.131% | $386K | $739K | 10x | as long as short |
| QFEX NBIS-USD | +0.0038% | 1h | 236.06 | −0.127% | $1.5M | $5.0M | 10x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 236.22 | −0.059% | — | $224K | 5x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 235.64 | −0.305% | $175K | $504K | 10x | as long as short |
Kraken Futures PF_NBISUSD
OKX NBIS-USDT-SWAP
SunX NBIS-USDT
Phemex NBISUSDT
HTX NBIS-USDT
Gate NBIS_USDT
Coinbase International NBIS-PERP-INTX
QFEX NBIS-USD
Vest NBIS-USD-PERP
Ondo Perps NBIS-USD.PShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bitget NBISUSDT | +0.0070% | 8h | 236.26 | −0.042% | $2.5M | $4.6M | 20x | as long as short |
| Bybit NBISUSDT | +0.0094% | 8h | 236.37 | +0.004% | $5.1M | $6.5M | 50x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 236.00 | −0.152% | $487K | $23K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 236.11 | −0.106% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 236.11 | −0.104% | — | — | 10x | as long as short |
| SoDEX NBIS-USD | +0.0162% | 1h | 236.00 | −0.152% | $42 | $20K | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUAL | +0.0174% | 1h | 236.07 | −0.123% | $35K | $48K | 10x | as long as short |
| Nado NBIS-PERP | +0.0192% | 1h | 236.02 | −0.146% | $29K | $63K | 3x | as long as short |
| Variational Omni NBIS | +0.0230% | 8h | 235.75 | −0.259% | $2.9M | $820K | — | as long as short |
| BloFin NBIS-USDT | +0.0241% | 8h | 236.13 | −0.097% | $207K | $212K | 20x | as long as short |
| Aster NBISUSDT | +0.0248% | 8h | 236.03 | −0.140% | $82K | $308K | 50x | as long as short |
| Extended NBIS-USD | +0.0264% | 1h | 236.29 | −0.028% | $151K | $924K | 10x | as long as short |
| Binance NBISUSDT | +0.0268% | 8h | 236.30 | −0.024% | $19.7M | $85.7M | 25x | as long as short |
| Lighter NBISlong | +0.0328% | 1h | 236.36 | long leg | $930K | $4.5M | 10x | |
| Polymarket Perps NBIS-USD | +0.0366% | 1h | 236.08 | −0.118% | $136K | $433K | 10x | as long as short |
| Arcus NBIS-USD | +0.0366% | 1h | 235.75 | −0.258% | $44K | $132K | 5x | as long as short |
| Phoenix NBIS | +0.0409% | 1h | 236.14 | −0.093% | $7K | $163K | 10x | as long as short |
| GRVT NBIS_USDT_Perp | +0.0435% | 8h | 235.71 | −0.276% | $5K | $133K | 10x | as long as short |
| tradeXYZ xyz:NBIS | +0.0465% | 1h | 236.17 | −0.080% | $55.3M | $23.7M | 10x | as long as short |
| edgeX NBISUSDC | +0.0550% | 4h | 235.72 | −0.269% | $38K | $229K | 10x | as long as short |
| Entropy io:NBISshort | +0.0905% | 1h | 235.92 | −0.186% | $10.3M | $3.4M | 10x |
Bitget NBISUSDT
Bybit NBISUSDT
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
SoDEX NBIS-USD
Deribit NBIS_USDC-PERPETUAL
Nado NBIS-PERP
Variational Omni NBIS
BloFin NBIS-USDT
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Polymarket Perps NBIS-USD
Arcus NBIS-USD
Phoenix NBIS
GRVT NBIS_USDT_Perp
tradeXYZ xyz:NBIS
edgeX NBISUSDC