Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0301%/8h= +33.0% APRpaid last 24h +0.109%

Price spread now: Entropy against Binance−0.047%52s7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$570.567% of the position

Long on Binance Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.503%+$50 on $10k

Price spread, last 7 days+0.070%+$7 · spread now −0.047%, 7d avg +0.012%

Together, before fees+0.572%+$57 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.059% cheaper against Binance than usual: you would sell low and buy high (spread −0.047% now, against its 7-day average of +0.012%). If the spread goes back, that is −$6 on $10k: about 16 hours of funding at the current rate (+$9 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NBISUSDT	233.35	0	get 0.0000% / 8h	3h 13m	$19.0M	$85.2M	25x
Short	Entropy io:NBIS	233.24	0.0301	get 0.0038% / 1h	13m 48s	$10.1M	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against Binance. 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 BinancebpFee EntropybpOrdersPrice spread, now −0.047%Rate

Funding earned: $63.25
Price spread: −0.047% → +0.012%: −$5.89
Slippage, 4 orders: −$28.7
Fee Binance: 5 bp × 2 orders: −$10
Fee Entropy: 9 bp × 2 orders: −$18
Net: $0.66
Costs to cover: 0.567%
Break-even: 6.9 days

Slippage from Binance: live order book, 14 min ago; Entropy: live order book, 1 min ago.

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 Binance live order book, 14 min ago	0.21 bp	7.4 bp −$7	25.2 bp −$252	87.7 bp −$8,765	doesn't fit
Sell Entropy live order book, 1 min ago	1.28 bp	23.7 bp −$24	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
Aster NBISUSDT	0.0000%	8h	233.39	+0.016%	$78K	$310K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.26	−0.038%	$146K	$635K	10x	as long as short
Binance NBISUSDTlong	0.0000%	8h	233.35	long leg	$19.0M	$85.2M	25x
Bybit NBISUSDT	0.0000%	8h	233.41	+0.026%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.36	+0.004%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.36	+0.004%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.38	+0.013%	$2.3M	$4.5M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.10	−0.105%	$2.9M	$552K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	232.98	−0.160%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.38	+0.013%	$899	$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	233.28	−0.030%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.51	+0.069%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.39	+0.017%	$1.6M	$955K	10x	as long as short
Nado NBIS-PERP	+0.0017%	1h	233.36	+0.006%	$38K	$115K	3x	as long as short
BloFin NBIS-USDT	+0.0030%	8h	233.30	−0.021%	$206K	$205K	20x	as long as short
QFEX NBIS-USD	+0.0034%	1h	233.37	+0.009%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.05	−0.129%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.48	+0.056%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0049%	1h	233.32	−0.014%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	233.32	−0.013%	$54.4M	$20.1M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.33	−0.009%	$143K	$460K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.33	−0.009%	$107	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.35	0.000%	$160K	$501K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.26	−0.039%	$481K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.35	0.000%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.26	−0.041%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.28	−0.030%	$362K	$773K	10x	as long as short
edgeX NBISUSDC	+0.0114%	4h	232.90	−0.191%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0216%	1h	233.40	+0.021%	$926K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0239%	1h	232.87	−0.206%	$7K	$150K	10x	as long as short
Entropy io:NBISshort	+0.0301%	1h	233.24	−0.047%	$10.1M	$3.2M	10x