NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0434%/8h= −47.5% APRnext payment −$0.54 per $10,000 · paid last 24h −0.106%

Price spread now: Arcus against Entropy−0.060%7-day average −0.097% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$470.473% of the position

Long on Entropy Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.060%, 7d avg −0.097%

Together, before fees+0.102%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.038% dearer against Entropy than usual: you sell high and buy low (spread −0.060% now, against its 7-day average of −0.097%): +$4 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 4 days (−0.007% in total) that is about 20 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.007% in total (about -0.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.54 per $10,000. 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	Entropy io:NBIS	234.13	0.0474	pay 0.0059% / 1h	52m 07s	$10.2M	$3.3M	10x
Short	Arcus NBIS-USD	233.99	0.0040	get 0.0005% / 1h	52m 07s	$42K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Entropy. 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 EntropybpFee ArcusbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$91.09
Price spread: −0.060% → −0.097%: $3.77
Slippage, 4 orders: −$24.79
Fee Entropy: 9 bp × 2 orders: −$18
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$134.62
Costs to cover: 0.473%
Break-even: never at this rate

Slippage from Entropy: live order book, 5 min ago; Arcus: live order book, 11 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 Entropy live order book, 5 min ago	0.85 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 11 min ago	4.70 bp	8.6 bp −$9	17.2 bp −$172	doesn't fit	doesn't fit

NBIS on 30 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
Bybit NBISUSDT	0.0000%	8h	234.19	+0.026%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.20	+0.030%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.27	+0.060%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.13	0.000%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.04	−0.038%	$5K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.08	−0.021%	$904	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.13	0.000%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.07	−0.026%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.20	+0.030%	$1.6M	$968K	10x	as long as short
Nado NBIS-PERP	+0.0019%	1h	234.10	−0.013%	$67K	$95K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0023%	1h	234.20	+0.030%	$1.5M	$4.4M	10x	as long as short
Arcus NBIS-USDshort	+0.0040%	1h	233.99	−0.060%	$42K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	234.38	+0.107%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.13	0.000%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.18	+0.021%	$5	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.06	−0.030%	$163K	$499K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0082%	1h	234.08	−0.021%	$54.6M	$19.7M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.16	+0.013%	$483K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.21	+0.034%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.17	+0.016%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.256%	$382K	$712K	10x	as long as short
Variational Omni NBIS	+0.0132%	8h	234.03	−0.044%	$2.8M	$570K	—	as long as short
Aster NBISUSDT	+0.0145%	8h	234.29	+0.067%	$81K	$307K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.24	+0.049%	$23K	$15K	20x	as long as short
Binance NBISUSDT	+0.0156%	8h	234.18	+0.021%	$19.1M	$84.7M	25x	as long as short
Extended NBIS-USD	+0.0160%	1h	234.14	+0.004%	$147K	$698K	10x	as long as short
Phoenix NBIS	+0.0308%	1h	234.17	+0.017%	$7K	$150K	10x	as long as short
Lighter NBIS	+0.0312%	1h	234.24	+0.047%	$904K	$4.3M	10x	as long as short
Entropy io:NBISlong	+0.0474%	1h	234.13	long leg	$10.2M	$3.3M	10x
edgeX NBISUSDC	+0.0592%	4h	234.09	−0.017%	$38K	$226K	10x	as long as short