Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0666%/8h= −72.9% APRpaid last 24h −0.102%

Price spread now: Orderly against Entropy−0.030%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Entropy Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Orderly is 0.030% cheaper against Entropy than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	230.84	0.0766	pay 0.0096% / 1h	55m 24s	$10.1M	$3.2M	10x
Short	Orderly PERP_NBIS_USDC_mythos	230.77	0.0100	get 0.0100% / 8h	6h 55m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.030%Rate

Funding earned: −$139.8
Price spread: −0.030% → 0.000%: −$3.03
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$166.84
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Entropy: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

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, 2 min ago	1.08 bp	20.7 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0045%	8h	230.49	−0.152%	$2.3M	$4.7M	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.53	−0.134%	$3.3M	$16.4M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.62	−0.095%	$2.7M	$5.0M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.17	+0.143%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.42	−0.182%	$34K	$50K	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.30	+0.199%	$1.6M	$971K	10x	as long as short
Variational Omni NBIS	+0.0011%	8h	231.16	+0.139%	$2.8M	$639K	—	as long as short
Aster NBISUSDT	+0.0027%	8h	230.80	−0.016%	$74K	$320K	50x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.72	−0.052%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.57	−0.117%	$137K	$467K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.99	+0.065%	$149K	$538K	10x	as long as short
QFEX NBIS-USD	+0.0054%	1h	230.61	−0.100%	$1.5M	$3.7M	10x	as long as short
BloFin NBIS-USDT	+0.0055%	8h	231.36	+0.225%	$202K	$215K	20x	as long as short
Extended NBIS-USD	+0.0064%	1h	230.66	−0.078%	$145K	$856K	10x	as long as short
Binance NBISUSDT	+0.0068%	8h	230.73	−0.048%	$18.8M	$90.8M	25x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0088%	1h	230.78	−0.026%	$382K	$869K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.68	−0.069%	$468K	$106K	20x	as long as short
Orderly PERP_NBIS_USDC_mythosshort	+0.0100%	8h	230.77	−0.030%	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	231.08	+0.105%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0107%	1h	230.56	−0.120%	$38K	$116K	3x	as long as short
Bybit NBISUSDT	+0.0175%	8h	230.71	−0.056%	$4.9M	$6.8M	50x	as long as short
HTX NBIS-USDT	+0.0191%	8h	230.95	+0.048%	$13K	$62K	20x	as long as short
SoDEX NBIS-USD	+0.0209%	1h	230.54	−0.130%	$74	$20K	10x	as long as short
Arcus NBIS-USD	+0.0257%	1h	230.62	−0.095%	$42K	$124K	5x	as long as short
Phoenix NBIS	+0.0277%	1h	230.93	+0.039%	$7K	$127K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0295%	1h	230.59	−0.108%	$54.1M	$22.0M	10x	as long as short
Lighter NBIS	+0.0312%	1h	230.94	+0.043%	$932K	$4.0M	10x	as long as short
edgeX NBISUSDC	+0.0719%	4h	231.07	+0.100%	$37K	$226K	10x	as long as short
Entropy io:NBISlong	+0.0766%	1h	230.84	long leg	$10.1M	$3.2M	10x
Kraken Futures PF_NBISUSD	+0.0771%	1h	230.52	−0.138%	$22K	$16K	20x	as long as short
GRVT NBIS_USDT_Perp	+0.0822%	8h	231.19	+0.152%	$5K	$114K	10x	as long as short