Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0359%/8h= +39.4% APRpaid last 24h +0.139%

Price spread now: Entropy against OKX+0.017%7-day average +0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$640.642% of the position

Long on OKX Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.563%+$56 on $10k

Price spread, last 7 days+0.059%+$6 · spread now +0.017%, 7d avg +0.028%

Together, before fees+0.621%+$62 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NBIS-USDT-SWAP	233.57	0	get 0.0000% / 8h	6h 40m	$3.4M	$16.5M	25x
Short	Entropy io:NBIS	233.61	0.0359	get 0.0045% / 1h	40m 52s	$10.1M	$3.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against OKX. 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 OKXbpFee EntropybpOrdersPrice spread, now +0.017%Rate

Funding earned: $75.49
Price spread: +0.017% → +0.028%: −$1.04
Slippage, 4 orders: −$36.21
Fee OKX: 5 bp × 2 orders: −$10
Fee Entropy: 9 bp × 2 orders: −$18
Net: $10.23
Costs to cover: 0.642%
Break-even: 6.1 days

Slippage from OKX: live order book, 2 min ago; Entropy: live order book, 4 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 OKX live order book, 2 min ago	0.86 bp	6.7 bp −$7	27.1 bp −$271	doesn't fit	doesn't fit
Sell Entropy live order book, 4 min ago	1.71 bp	24.5 bp −$25	44.5 bp −$445	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
Bybit NBISUSDT	0.0000%	8h	233.62	+0.021%	$5.1M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAPlong	0.0000%	8h	233.57	long leg	$3.4M	$16.5M	25x
Gate NBIS_USDT	0.0000%	8h	233.59	+0.009%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.54	−0.013%	$2.4M	$4.5M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.48	−0.039%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.78	+0.090%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.59	+0.009%	$1.6M	$972K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0007%	1h	233.40	−0.073%	$35K	$48K	10x	as long as short
QFEX NBIS-USD	+0.0024%	1h	233.45	−0.051%	$1.5M	$4.7M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.55	−0.009%	$42K	$135K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0046%	1h	233.56	−0.004%	—	$226K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.34	−0.098%	$148K	$468K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.42	−0.064%	$98	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.39	−0.077%	$163K	$501K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0062%	8h	233.77	+0.084%	$5K	$130K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0096%	1h	233.41	−0.070%	$24K	$15K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.50	−0.030%	$481K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.45	−0.051%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.44	−0.054%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0112%	1h	236.05	+1.062%	$386K	$721K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0130%	1h	233.43	−0.060%	$54.7M	$22.9M	10x	as long as short
Nado NBIS-PERP	+0.0170%	1h	233.27	−0.130%	$69K	$93K	3x	as long as short
Variational Omni NBIS	+0.0223%	8h	233.46	−0.048%	$2.8M	$570K	—	as long as short
Aster NBISUSDT	+0.0223%	8h	233.68	+0.049%	$81K	$314K	50x	as long as short
BloFin NBIS-USDT	+0.0234%	8h	234.04	+0.201%	$207K	$209K	20x	as long as short
Extended NBIS-USD	+0.0240%	1h	233.50	−0.029%	$150K	$705K	10x	as long as short
Binance NBISUSDT	+0.0244%	8h	233.61	+0.017%	$19.2M	$85.3M	25x	as long as short
Lighter NBIS	+0.0296%	1h	233.57	0.000%	$902K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0306%	1h	234.04	+0.201%	$7K	$152K	10x	as long as short
edgeX NBISUSDC	+0.0339%	4h	233.68	+0.047%	$38K	$225K	10x	as long as short
Entropy io:NBISshort	+0.0359%	1h	233.61	+0.017%	$10.1M	$3.4M	10x