Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0049%/8h= +5.3% APRpaid last 24h +0.065%

Price spread now: Kraken Futures against Variational Omni−0.165%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Funding pays, the price is against you. Kraken Futures is 0.165% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.165% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$17 on $10k: about 11 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	234.15	0	get 0.0000% / 8h	3h 48m	$2.9M	$558K	—
Short	Kraken Futures PF_NBISUSD	233.77	0.0049	get 0.0006% / 1h	48m 44s	$23K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.165%Rate

Funding earned: $10.19
Price spread: −0.165% → 0.000%: −$16.52
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$16.33
Costs to cover: 0.100%
Break-even: 18.2 days

Slippage unknown: Variational Omni: RFQ quote, just now; Kraken Futures: no order-book sample. 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 Variational Omni RFQ quote, just now	3.68 bp	doesn't fit	39.9 bp −$399	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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	234.16	+0.003%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.25	+0.041%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.85	−0.130%	$2.7M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.25	+0.041%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBISlong	0.0000%	8h	234.15	long leg	$2.9M	$558K	—
GRVT NBIS_USDT_Perp	0.0000%	8h	234.45	+0.126%	$4K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.96	−0.083%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.17	+0.007%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.93	−0.096%	$1.6M	$953K	10x	as long as short
Aster NBISUSDT	+0.0002%	8h	234.18	+0.013%	$79K	$310K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NBISUSDT	+0.0004%	8h	234.09	−0.026%	$19.3M	$84.6M	25x	as long as short
Extended NBIS-USD	+0.0008%	1h	234.05	−0.044%	$147K	$699K	10x	as long as short
BloFin NBIS-USDT	+0.0027%	8h	234.04	−0.049%	$207K	$206K	20x	as long as short
QFEX NBIS-USD	+0.0034%	1h	233.97	−0.079%	$1.5M	$4.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.98	−0.074%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.15	−0.002%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSDshort	+0.0049%	1h	233.77	−0.165%	$23K	$15K	20x
Polymarket Perps NBIS-USD	+0.0050%	1h	233.88	−0.117%	$147K	$456K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.83	−0.138%	$75	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.88	−0.117%	$160K	$501K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0056%	1h	234.03	−0.053%	$54.6M	$19.9M	10x	as long as short
Nado NBIS-PERP	+0.0079%	1h	233.83	−0.137%	$38K	$115K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0092%	1h	233.91	−0.104%	$35K	$49K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.85	−0.130%	$482K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.88	−0.117%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.87	−0.121%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	235.56	+0.600%	$389K	$724K	10x	as long as short
Phoenix NBIS	+0.0239%	1h	234.02	−0.057%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0248%	1h	234.21	+0.024%	$907K	$3.9M	10x	as long as short
Entropy io:NBIS	+0.0284%	1h	234.10	−0.023%	$10.2M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0306%	4h	234.38	+0.094%	$38K	$226K	10x	as long as short