Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0256%/8h= +28.0% APRpaid last 24h +0.034%

Price spread now: Nado against Variational Omni+0.138%7-day average −0.018% · you sell dearer than you buy

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.247%−$25 · spread now +0.138%, 7d avg −0.018%

Together, before fees−0.235%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Nado is 0.156% dearer against Variational Omni than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.018%.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.012% in total (about 1.3% a year). A funding rate is set anew for every payment. 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	Variational Omni NBIS	230.37	0	get 0.0000% / 8h	6h 58m	$2.8M	$601K	—
Short	Nado NBIS-PERP	230.69	0.0256	get 0.0032% / 1h	58m 43s	$38K	$116K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.138%Rate

Funding earned: $53.69
Price spread: +0.138% → −0.018%: $15.6
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $62.29
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, just now; Nado: live order book, 30 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 Variational Omni RFQ quote, just now	2.80 bp	doesn't fit	42.2 bp −$422	doesn't fit	doesn't fit
Sell Nado live order book, 30 min ago	12.56 bp	36.8 bp −$37	141.4 bp −$1,414	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
Bitget NBISUSDT	−0.0068%	8h	230.96	+0.255%	$2.3M	$4.6M	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.96	+0.255%	$3.3M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.01	+0.277%	$2.7M	$5.0M	50x	as long as short
Variational Omni NBISlong	0.0000%	8h	230.37	long leg	$2.8M	$601K	—
SunX NBIS-USDT	0.0000%	8h	230.91	+0.233%	$1K	$1.6M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.85	+0.207%	$1.6M	$971K	10x	as long as short
Aster NBISUSDT	+0.0014%	8h	230.76	+0.167%	$74K	$320K	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.81	+0.190%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.93	+0.242%	$138K	$467K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.20	−0.075%	$149K	$539K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NBIS-USD	+0.0056%	1h	230.96	+0.254%	$144K	$856K	10x	as long as short
Binance NBISUSDT	+0.0059%	8h	230.99	+0.268%	$18.8M	$90.5M	25x	as long as short
BloFin NBIS-USDT	+0.0060%	8h	230.86	+0.212%	$201K	$215K	20x	as long as short
QFEX NBIS-USD	+0.0064%	1h	230.88	+0.220%	$1.6M	$3.7M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	230.78	+0.177%	$382K	$869K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.80	+0.186%	$468K	$99K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.86	+0.212%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.77	+0.171%	—	—	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0183%	1h	230.87	+0.216%	$34K	$50K	10x	as long as short
HTX NBIS-USDT	+0.0204%	8h	230.68	+0.134%	$13K	$62K	20x	as long as short
Bybit NBISUSDT	+0.0223%	8h	230.93	+0.242%	$4.9M	$6.8M	50x	as long as short
Nado NBIS-PERPshort	+0.0256%	1h	230.69	+0.138%	$38K	$116K	3x
Arcus NBIS-USD	+0.0257%	1h	230.84	+0.203%	$42K	$124K	5x	as long as short
Phoenix NBIS	+0.0277%	1h	230.60	+0.099%	$7K	$125K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0416%	1h	230.94	+0.246%	$54.2M	$22.0M	10x	as long as short
Lighter NBIS	+0.0440%	1h	231.09	+0.312%	$930K	$4.0M	10x	as long as short
edgeX NBISUSDC	+0.0595%	4h	230.41	+0.014%	$37K	$228K	10x	as long as short
SoDEX NBIS-USD	+0.0642%	1h	230.85	+0.207%	$83	$20K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0769%	1h	230.95	+0.252%	$22K	$16K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0817%	8h	230.41	+0.016%	$5K	$114K	10x	as long as short
Entropy io:NBIS	+0.0821%	1h	230.65	+0.121%	$10.1M	$3.2M	10x	as long as short