Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0187%/8h= −20.5% APRpaid last 24h −0.107%

Price spread now: KuCoin against Entropy−0.051%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$230as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1851.847% of the position

Long on Entropy Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.450%−$45 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now −0.051%, 7d avg −0.142%

Together, before fees−0.436%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.090% dearer against Entropy than usual: you sell high and buy low (spread −0.051% now, against its 7-day average of −0.142%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 38 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	233.77	0.0287	pay 0.0036% / 1h	38m 24s	$10.1M	$3.2M	10x
Short	KuCoin NBISUSDTM	233.65	0.0100	get 0.0100% / 8h	3h 38m	$481K	$20K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$39.37
Price spread: −0.051% → −0.142%: $9.02
Slippage, 4 orders: −$154.69
Fee Entropy: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$215.04
Costs to cover: 1.847%
Break-even: never at this rate

Slippage from Entropy: live order book, 8 min ago; KuCoin: 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, 8 min ago	1.49 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 35 min ago	18.93 bp	72.6 bp −$73	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
BloFin NBIS-USDT	−0.0023%	8h	233.61	−0.068%	$206K	$205K	20x	as long as short
Aster NBISUSDT	0.0000%	8h	233.95	+0.077%	$78K	$310K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.64	−0.054%	$147K	$699K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	233.76	−0.004%	$19.2M	$84.7M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	233.77	0.000%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.73	−0.017%	$3.4M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.80	+0.013%	$2.7M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.75	−0.009%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.67	−0.041%	$2.9M	$556K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	233.70	−0.030%	$4K	$119K	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	233.66	−0.047%	$848	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.54	−0.098%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.10	+0.141%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.67	−0.043%	$1.6M	$954K	10x	as long as short
Nado NBIS-PERP	+0.0022%	1h	233.59	−0.079%	$38K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0034%	1h	233.75	−0.009%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	233.70	−0.030%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.88	+0.047%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0049%	1h	233.45	−0.136%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	233.69	−0.034%	$54.5M	$20.0M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.68	−0.038%	$147K	$456K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	233.62	−0.064%	$75	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.98	+0.090%	$160K	$502K	10x	as long as short
KuCoin NBISUSDTMshort	+0.0100%	8h	233.65	−0.051%	$481K	$20K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.63	−0.060%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.59	−0.078%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	235.56	+0.766%	$389K	$724K	10x	as long as short
edgeX NBISUSDC	+0.0171%	4h	233.69	−0.034%	$38K	$226K	10x	as long as short
Lighter NBIS	+0.0232%	1h	233.73	−0.017%	$912K	$3.9M	10x	as long as short
Phoenix NBIS	+0.0239%	1h	233.81	+0.017%	$7K	$150K	10x	as long as short
Entropy io:NBISlong	+0.0287%	1h	233.77	long leg	$10.1M	$3.2M	10x