Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0304%/8h= −33.3% APRpaid last 24h −0.107%

Price spread now: Binance against Entropy+0.013%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$520.523% of the position

Long on Entropy Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.500%−$50 on $10k

Price spread, last 7 days−0.039%−$4 · spread now +0.013%, 7d avg −0.011%

Together, before fees−0.539%−$54 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.024% dearer against Entropy than usual: you sell high and buy low (spread +0.013% now, against its 7-day average of −0.011%): +$2 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	230.48	0.0304	pay 0.0038% / 1h	23m 27s	$10.0M	$3.2M	10x
Short	Binance NBISUSDT	230.51	0	get 0.0000% / 8h	2h 23m	$18.5M	$86.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.013%Rate

Funding earned: −$63.8
Price spread: +0.013% → −0.011%: $2.41
Slippage, 4 orders: −$24.27
Fee Entropy: 9 bp × 2 orders: −$18
Fee Binance: 5 bp × 2 orders: −$10
Net: −$113.66
Costs to cover: 0.523%
Break-even: never at this rate

Slippage from Entropy: live order book, 3 min ago; Binance: live order book, 4 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, 3 min ago	3.26 bp	13.5 bp −$14	35.2 bp −$352	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.43 bp	9.3 bp −$9	27.0 bp −$270	97.2 bp −$9,724	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	−0.0507%	8h	230.55	+0.030%	$2.3M	$4.6M	20x	as long as short
BloFin NBIS-USDT	−0.0029%	8h	230.52	+0.017%	$204K	$204K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.52	+0.017%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.44	−0.019%	$146K	$757K	10x	as long as short
Binance NBISUSDTshort	0.0000%	8h	230.51	+0.013%	$18.5M	$86.7M	25x
Bybit NBISUSDT	0.0000%	8h	230.54	+0.026%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.30	−0.078%	$3.3M	$16.0M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.56	+0.035%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.38	−0.045%	$2.9M	$554K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.49	+0.004%	$5K	$118K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	230.70	+0.095%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.52	+0.017%	$15K	$61K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.88	+0.174%	$1.6M	$955K	10x	as long as short
Nado NBIS-PERP	+0.0021%	1h	230.41	−0.029%	$37K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0029%	1h	230.39	−0.039%	$1.5M	$3.9M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.42	−0.026%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.32	−0.069%	—	$220K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.38	−0.043%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.49	+0.004%	$111	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.65	+0.074%	$152K	$532K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0068%	1h	230.28	−0.087%	$53.5M	$20.6M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.32	−0.069%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.52	+0.017%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.49	+0.002%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0168%	1h	230.62	+0.061%	$353K	$792K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0223%	1h	230.55	+0.029%	$23K	$15K	20x	as long as short
Lighter NBIS	+0.0232%	1h	230.52	+0.017%	$928K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0242%	1h	230.44	−0.017%	$7K	$150K	10x	as long as short
Entropy io:NBISlong	+0.0304%	1h	230.48	long leg	$10.0M	$3.2M	10x
edgeX NBISUSDC	+0.0361%	4h	230.33	−0.067%	$37K	$226K	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0705%	1h	230.64	+0.069%	$34K	$49K	10x	as long as short