Funding you earn now, next payment 02:00 UTC−0.0166%/8h= −18.2% APRnext payment −$0.21 per $10,000 · paid last 24h −0.036%
Price spread now: Phoenix against Entropy+0.017%7-day average +0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$67as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$630.627% of the position
Funding, last 7 days−0.047%−$5 on $10k
+Price spread, last 4 days (all we have)+0.548%+$55 · spread now +0.017%, 7d avg +0.011%
=The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.
| 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 02s | $10.2M | $3.3M | 10x |
| Short | Phoenix NBIS | 234.17 | 0.0308 | get 0.0039% / 1h | 52m 02s | $7K | $150K | 10x |
Entropy io:NBIS
Phoenix NBISFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Entropy. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$34.84
- Price spread: +0.017% → +0.011%
- $0.57
- Slippage, 4 orders
- −$37.68
- Fee Entropy: 9 bp × 2 orders
- −$18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$96.96
- Costs to cover
- 0.627%
- Break-even
- never at this rate
Slippage from Entropy: live order book, 5 min ago; Phoenix: 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, 5 min ago | 0.85 bp | 18.8 bp −$19 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 5.12 bp | 15.8 bp −$16 | 34.1 bp −$341 | 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 |
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Bitget NBISUSDT
GRVT NBIS_USDT_Perp
SunX NBIS-USDT
Deribit NBIS_USDC-PERPETUAL
HTX NBIS-USDT
Phemex NBISUSDT
Nado NBIS-PERPShow 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-USD | +0.0040% | 1h | 233.99 | −0.060% | $42K | $132K | 5x | as long as short |
| 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 NBISshort | +0.0308% | 1h | 234.17 | +0.017% | $7K | $150K | 10x | |
| 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 |
QFEX NBIS-USD
Arcus NBIS-USD
Vest NBIS-USD-PERP
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
tradeXYZ xyz:NBIS
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
Variational Omni NBIS
Aster NBISUSDT
Kraken Futures PF_NBISUSD
Binance NBISUSDT
Extended NBIS-USD
Lighter NBIS
edgeX NBISUSDC