Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0634%/8h= −69.4% APRpaid last 24h +0.048%

Price spread now: edgeX against Entropy−0.098%7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$650.647% of the position

Long on Entropy Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.328%+$33 on $10k

Price spread, last 4 days (all we have)+0.339%+$34 · spread now −0.098%, 7d avg −0.085%

Together, before fees+0.667%+ Points / potential airdropedgeX: Active · farm board+$67 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.085%, so right now this pair is about funding alone: −$19 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.328%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.328% in total (about 17.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	231.10	0.0659	pay 0.0082% / 1h	15m 14s	$10.1M	$3.1M	10x
Short	edgeX NBISUSDC	230.87	0.0026	get 0.0013% / 4h	2h 15m	$37K	$228K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$133.08
Price spread: −0.098% → −0.085%: −$1.32
Slippage, 4 orders: −$37.71
Fee Entropy: 9 bp × 2 orders: −$18
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$199.11
Costs to cover: 0.647%
Break-even: never at this rate

Slippage from Entropy: live order book, 5 min ago; edgeX: live order book, 35 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	1.08 bp	14.1 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 35 min ago	6.72 bp	14.4 bp −$14	doesn't fit	doesn't fit	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	231.42	+0.138%	$3.3M	$16.6M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.43	+0.143%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	231.50	+0.173%	$2.3M	$4.7M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.29	+0.082%	$1K	$1.5M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	231.46	+0.156%	$34K	$50K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.33	+0.100%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.43	+0.143%	$1.6M	$969K	10x	as long as short
Variational Omni NBIS	+0.0003%	8h	231.23	+0.054%	$2.8M	$642K	—	as long as short
Aster NBISUSDT	+0.0025%	8h	231.35	+0.110%	$74K	$315K	50x	as long as short
edgeX NBISUSDCshort	+0.0026%	4h	230.87	−0.098%	$37K	$228K	10x

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NBISUSDT	+0.0026%	8h	231.46	+0.156%	$4.9M	$6.8M	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.35	+0.108%	—	$250K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.42	+0.138%	$138K	$472K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	231.34	+0.104%	$65	$19K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.64	−0.199%	$151K	$538K	10x	as long as short
QFEX NBIS-USD	+0.0054%	1h	231.43	+0.143%	$1.5M	$3.7M	10x	as long as short
Extended NBIS-USD	+0.0056%	1h	231.39	+0.125%	$145K	$854K	10x	as long as short
Binance NBISUSDT	+0.0057%	8h	231.43	+0.143%	$19.6M	$91.6M	25x	as long as short
BloFin NBIS-USDT	+0.0060%	8h	231.49	+0.169%	$205K	$219K	20x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	230.69	−0.177%	$380K	$873K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.24	+0.061%	$469K	$149K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.31	+0.091%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.30	+0.087%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0127%	1h	231.19	+0.041%	$38K	$116K	3x	as long as short
GRVT NBIS_USDT_Perp	+0.0253%	8h	230.93	−0.076%	$5K	$104K	10x	as long as short
Arcus NBIS-USD	+0.0257%	1h	231.38	+0.121%	$42K	$122K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0296%	1h	231.42	+0.138%	$54.4M	$20.4M	10x	as long as short
Phoenix NBIS	+0.0347%	1h	231.09	−0.004%	$7K	$127K	10x	as long as short
Lighter NBIS	+0.0384%	1h	231.47	+0.160%	$937K	$4.1M	10x	as long as short
Entropy io:NBISlong	+0.0659%	1h	231.10	long leg	$10.1M	$3.1M	10x
Kraken Futures PF_NBISUSD	+0.0768%	1h	231.24	+0.061%	$22K	$11K	20x	as long as short