Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.008%

Price spread now: Ondo Perps against Variational Omni−0.006%7-day average −0.070% · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.015%−$2 on $10k

Price spread, last 4 days (all we have)−0.726%−$73 · spread now −0.006%, 7d avg −0.070%

Together, before fees−0.742%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board−$74 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.064% dearer against Variational Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	232.77	0	get 0.0000% / 8h	2h 50m	$2.9M	$555K	—
Short	Ondo Perps NBIS-USD.P	232.76	0.0050	get 0.0006% / 1h	50m 39s	$161K	$507K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.006%Rate

Funding earned: $10.58
Price spread: −0.006% → −0.070%: $6.37
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $11.95
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Ondo Perps: 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, 3 min ago	2.77 bp	doesn't fit	48.2 bp −$482	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Bitget NBISUSDT	−0.0068%	8h	232.75	−0.010%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	232.68	−0.042%	$83K	$309K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.71	−0.028%	$145K	$756K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.78	+0.003%	$18.9M	$85.6M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.79	+0.007%	$5.0M	$6.4M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	232.68	−0.040%	$3.4M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.83	+0.024%	$2.7M	$5.0M	50x	as long as short
Variational Omni NBISlong	0.0000%	8h	232.77	long leg	$2.9M	$555K	—
GRVT NBIS_USDT_Perp	0.0000%	8h	232.72	−0.021%	$5K	$118K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.58	−0.083%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	232.96	+0.080%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.78	+0.002%	$1.6M	$956K	10x	as long as short
BloFin NBIS-USDT	+0.0015%	8h	232.69	−0.036%	$205K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0029%	1h	232.71	−0.028%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.50	−0.118%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	232.68	−0.040%	—	$217K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	232.63	−0.062%	$143K	$459K	10x	as long as short
Ondo Perps NBIS-USD.Pshort	+0.0050%	1h	232.76	−0.006%	$161K	$507K	10x
Nado NBIS-PERP	+0.0084%	1h	232.72	−0.024%	$38K	$115K	3x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0094%	1h	232.76	−0.006%	$35K	$49K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.66	−0.049%	$479K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.80	+0.011%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.77	−0.001%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0126%	1h	232.61	−0.071%	$54.2M	$20.2M	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	232.30	−0.204%	$361K	$771K	10x	as long as short
SoDEX NBIS-USD	+0.0192%	1h	232.76	−0.006%	$102	$20K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0221%	1h	232.73	−0.019%	$23K	$15K	20x	as long as short
Phoenix NBIS	+0.0242%	1h	232.60	−0.075%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0392%	1h	232.80	+0.011%	$932K	$3.9M	10x	as long as short
Entropy io:NBIS	+0.0560%	1h	232.62	−0.066%	$10.1M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0915%	4h	232.68	−0.039%	$37K	$226K	10x	as long as short