Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0081%/8h= +8.9% APRpaid last 24h −0.043%

Price spread now: Variational Omni against Nado+0.029%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropNado: Active · Variational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Variational Omni is 0.029% dearer against Nado than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NBIS-PERP	235.04	0.0004	pay 0.0000% / 1h	9m 29s	$64K	$99K	3x
Short	Variational Omni NBIS	235.11	0.0085	get 0.0085% / 8h	5h 09m	$2.9M	$566K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Nado. 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 NadobpFee Variational OmnibpOrdersPrice spread, now +0.029%Rate

Funding earned: $17.07
Price spread: +0.029% → 0.000%: $2.89
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $12.97
Costs to cover: 0.070%
Break-even: 1.7 days

Slippage unknown: Nado: no order-book sample; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

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 Nado no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	5.46 bp	doesn't fit	42.8 bp −$428	doesn't fit	doesn't fit

Nado: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bybit NBISUSDT	0.0000%	8h	235.30	+0.110%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.22	+0.076%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.25	+0.089%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.23	+0.080%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.25	+0.089%	$4K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.28	+0.102%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.19	+0.063%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.31	+0.114%	$1.6M	$961K	10x	as long as short
Nado NBIS-PERPlong	+0.0004%	1h	235.04	long leg	$64K	$99K	3x
QFEX NBIS-USD	+0.0023%	1h	235.18	+0.059%	$1.5M	$4.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NBIS-USD	+0.0040%	1h	235.02	−0.009%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.44	+0.170%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.18	+0.059%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.29	+0.106%	$66	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.00	−0.017%	$164K	$499K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0078%	1h	235.13	+0.038%	$55.1M	$19.6M	10x	as long as short
Variational Omni NBISshort	+0.0085%	8h	235.11	+0.029%	$2.9M	$566K	—
Deribit NBIS_USDC-PERPETUAL	+0.0090%	1h	235.19	+0.063%	$35K	$48K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.05	+0.004%	$484K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.29	+0.106%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.25	+0.091%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.643%	$382K	$712K	10x	as long as short
BloFin NBIS-USDT	+0.0109%	8h	235.12	+0.034%	$207K	$204K	20x	as long as short
Aster NBISUSDT	+0.0119%	8h	235.12	+0.033%	$81K	$307K	50x	as long as short
Binance NBISUSDT	+0.0126%	8h	235.30	+0.110%	$19.2M	$84.5M	25x	as long as short
Extended NBIS-USD	+0.0128%	1h	235.18	+0.059%	$147K	$706K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0151%	1h	235.15	+0.045%	$24K	$15K	20x	as long as short
Lighter NBIS	+0.0272%	1h	235.24	+0.085%	$900K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	235.19	+0.063%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0529%	1h	235.13	+0.038%	$10.2M	$3.3M	10x	as long as short
edgeX NBISUSDC	+0.0976%	4h	235.20	+0.067%	$38K	$226K	10x	as long as short