Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0064%/8h= +7.1% APRpaid last 24h −0.012%

Price spread now: QFEX against Variational Omni−0.053%7-day average −0.062% · you buy dearer than you sell

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.073%−$7 on $10k

Price spread, last 7 days+0.030%+$3 · spread now −0.053%, 7d avg −0.062%

Together, before fees−0.044%+ Points / potential airdropVariational Omni: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.062%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.073%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	228.94	0	get 0.0000% / 8h	7h 38m	$2.8M	$576K	—
Short	QFEX NBIS-USD	228.82	0.0064	get 0.0008% / 1h	38m 26s	$1.5M	$3.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.053%Rate

Funding earned: $13.52
Price spread: −0.053% → −0.062%: $0.84
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: $4.36
Costs to cover: 0.100%
Break-even: 4.7 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; QFEX: 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	3.25 bp	doesn't fit	45.8 bp −$458	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	2.84 bp	9.5 bp −$10	14.8 bp −$148	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	−0.0286%	8h	228.80	−0.062%	$2.3M	$4.5M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	229.39	+0.196%	$355K	$806K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	228.85	−0.039%	$81K	$313K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	228.68	−0.114%	$146K	$877K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	228.76	−0.081%	$18.6M	$88.5M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	228.71	−0.101%	$4.8M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	228.69	−0.110%	$3.2M	$15.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	228.84	−0.045%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBISlong	0.0000%	8h	228.94	long leg	$2.8M	$576K	—
SunX NBIS-USDT	0.0000%	8h	228.92	−0.010%	$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
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	228.60	−0.149%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	229.04	+0.043%	$15K	$58K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	228.80	−0.062%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0003%	8h	228.86	−0.036%	$202K	$212K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	228.75	−0.084%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	228.57	−0.163%	—	$224K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	228.80	−0.062%	$136K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	228.79	−0.066%	$64	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	228.53	−0.180%	$148K	$538K	10x	as long as short
Nado NBIS-PERP	+0.0056%	1h	228.71	−0.102%	$38K	$116K	3x	as long as short
tradeXYZ xyz:NBIS	+0.0062%	1h	228.81	−0.058%	$53.4M	$21.4M	10x	as long as short
QFEX NBIS-USDshort	+0.0064%	1h	228.82	−0.053%	$1.5M	$3.6M	10x
GRVT NBIS_USDT_Perp	+0.0075%	8h	229.25	+0.134%	$4K	$114K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	228.81	−0.058%	$470K	$55K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	228.82	−0.053%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	228.73	−0.091%	—	—	10x	as long as short
Lighter NBIS	+0.0128%	1h	228.71	−0.101%	$918K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	229.03	+0.038%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0300%	1h	228.86	−0.036%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0682%	1h	228.83	−0.048%	$22K	$16K	20x	as long as short
edgeX NBISUSDC	+0.0983%	4h	228.96	+0.007%	$37K	$226K	10x	as long as short