Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.073%

Price spread now: Phemex against Variational Omni−0.051%7-day average +0.012% · you buy dearer than you sell

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.073%−$7 on $10k

Price spread, last 3 days (all we have)−0.059%−$6 · spread now −0.051%, 7d avg +0.012%

Together, before fees−0.131%+ Points / potential airdropVariational Omni: Active · farm board−$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.063% cheaper against Variational Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	233.30	0	get 0.0000% / 8h	2h 08m	$2.8M	$945K	—
Short	Phemex NBISUSDT	233.18	0	get 0.0000% / 8h	2h 08m	$1.6M	$964K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → +0.012%: −$6.29
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.29
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Phemex: live order book, 5 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, 1 min ago	3.24 bp	doesn't fit	43.7 bp −$437	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	4.07 bp	46.6 bp −$47	doesn't fit	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
Deribit NBIS_USDC-PERPETUAL	−0.0393%	1h	233.14	−0.068%	$35K	$67K	10x	as long as short
BloFin NBIS-USDT	−0.0017%	8h	233.25	−0.021%	$205K	$216K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	233.31	+0.004%	$79K	$304K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.13	−0.073%	$141K	$697K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	233.16	−0.060%	$19.4M	$87.1M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	233.07	−0.098%	$5.1M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.06	−0.103%	$3.4M	$17.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.15	−0.064%	$2.9M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.08	−0.094%	$2.5M	$4.8M	20x	as long as short
Variational Omni NBISlong	0.0000%	8h	233.30	long leg	$2.8M	$945K	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	233.24	−0.025%	$431	$1.8M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.40	+0.043%	$15K	$115K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	233.18	−0.051%	$1.6M	$964K	10x
GRVT NBIS_USDT_Perp	+0.0002%	8h	233.31	+0.003%	$5K	$147K	10x	as long as short
QFEX NBIS-USD	+0.0033%	1h	233.21	−0.038%	$1.5M	$5.1M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.21	−0.038%	$44K	$134K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.38	+0.035%	—	$234K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.29	−0.004%	$130K	$588K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.15	−0.064%	$70	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.21	−0.038%	$180K	$514K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0057%	1h	232.98	−0.138%	$24K	$13K	20x	as long as short
edgeX NBISUSDC	+0.0061%	4h	233.28	−0.006%	$37K	$233K	10x	as long as short
Lighter NBIS	+0.0088%	1h	233.21	−0.038%	$935K	$4.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.05	−0.107%	$480K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.19	−0.047%	$2K	$4K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.16	−0.058%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0136%	1h	232.99	−0.133%	$355K	$704K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0170%	1h	233.22	−0.034%	$54.4M	$23.5M	10x	as long as short
Entropy io:NBIS	+0.0175%	1h	233.27	−0.013%	$10.2M	$3.3M	10x	as long as short
Nado NBIS-PERP	+0.0177%	1h	233.25	−0.023%	$28K	$65K	3x	as long as short
Phoenix NBIS	+0.0276%	1h	233.41	+0.048%	$7K	$185K	10x	as long as short