Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h −0.048%

Price spread now: Variational Omni against tradeXYZ+0.211%7-day average +0.053% · you sell dearer than you buy

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

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.026%−$3 on $10k

Price spread, last 7 days−0.153%−$15 · spread now +0.211%, 7d avg +0.053%

Together, before fees−0.179%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.158% dearer against tradeXYZ than usual: you sell high and buy low (spread +0.211% now, against its 7-day average of +0.053%): +$16 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 31 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:NBIS	235.31	0.0050	pay 0.0006% / 1h	36m 28s	$54.9M	$19.8M	10x
Short	Variational Omni NBIS	235.81	0.0033	get 0.0033% / 8h	4h 36m	$2.9M	$572K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against tradeXYZ. 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 tradeXYZbpFee Variational OmnibpOrdersPrice spread, now +0.211%Rate

Funding earned: −$3.54
Price spread: +0.211% → +0.053%: $15.83
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$5.71
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: tradeXYZ: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 tradeXYZ live order book, 3 min ago	1.06 bp	12.0 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.78 bp	doesn't fit	48.7 bp −$487	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
Nado NBIS-PERP	−0.0139%	1h	235.51	+0.085%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.50	+0.081%	$5.1M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.54	+0.098%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.49	+0.076%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.55	+0.102%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.75	+0.187%	$5K	$119K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.85	+0.229%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.51	+0.085%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.58	+0.115%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.60	+0.123%	$1.6M	$956K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NBISshort	+0.0033%	8h	235.81	+0.211%	$2.9M	$572K	—
QFEX NBIS-USD	+0.0038%	1h	235.43	+0.051%	$1.5M	$4.2M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.43	+0.051%	$43K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.82	+0.217%	—	$216K	5x	as long as short
tradeXYZ xyz:NBISlong	+0.0050%	1h	235.31	long leg	$54.9M	$19.8M	10x
Polymarket Perps NBIS-USD	+0.0050%	1h	235.37	+0.025%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.56	+0.106%	$5	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.63	+0.136%	$161K	$504K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.35	+0.017%	$389K	$724K	10x	as long as short
Aster NBISUSDT	+0.0075%	8h	235.50	+0.081%	$79K	$310K	50x	as long as short
Binance NBISUSDT	+0.0077%	8h	235.53	+0.093%	$19.4M	$84.6M	25x	as long as short
Extended NBIS-USD	+0.0080%	1h	235.49	+0.077%	$147K	$702K	10x	as long as short
edgeX NBISUSDC	+0.0082%	4h	235.58	+0.114%	$38K	$226K	10x	as long as short
Lighter NBIS	+0.0088%	1h	235.58	+0.115%	$899K	$4.0M	10x	as long as short
BloFin NBIS-USDT	+0.0095%	8h	235.58	+0.115%	$207K	$205K	20x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.36	+0.021%	$485K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.51	+0.085%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.48	+0.072%	—	—	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.54	+0.098%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0410%	1h	235.54	+0.098%	$10.2M	$3.2M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0476%	1h	235.43	+0.050%	$24K	$15K	20x	as long as short