NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0829%/8h= −90.8% APRnext payment −$1.04 per $10,000 · paid last 24h −0.126%

Price spread now: QFEX against Entropy−0.008%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$420.421% of the position

Long on Entropy Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.141%−$14 on $10k

Price spread, last 7 days−0.097%−$10 · spread now −0.008%, 7d avg −0.074%

Together, before fees−0.238%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.066% dearer against Entropy than usual: you sell high and buy low (spread −0.008% now, against its 7-day average of −0.074%): +$7 on $10k if it goes back. Holding the pair costs −$25 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 3 days (−0.141% in total) that is about 39 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.141% in total (about -14.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.04 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	235.71	0.0868	pay 0.0108% / 1h	22m 28s	$10.3M	$3.4M	10x
Short	QFEX NBIS-USD	235.69	0.0038	get 0.0005% / 1h	22m 28s	$1.5M	$4.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$174.16
Price spread: −0.008% → −0.074%: $6.58
Slippage, 4 orders: −$14.11
Fee Entropy: 9 bp × 2 orders: −$18
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$209.7
Costs to cover: 0.421%
Break-even: never at this rate

Slippage from Entropy: live order book, 4 min ago; QFEX: live order book, 6 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, 4 min ago	1.48 bp	13.0 bp −$13	33.3 bp −$333	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	2.33 bp	7.3 bp −$7	11.5 bp −$115	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.58	−0.054%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.58	−0.055%	$3.4M	$16.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.69	−0.008%	$2.8M	$5.1M	50x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.91	+0.085%	$1K	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	235.57	−0.059%	$35K	$48K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.58	−0.055%	$15K	$112K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.70	−0.004%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	236.05	+0.144%	$386K	$739K	10x	as long as short
QFEX NBIS-USDshort	+0.0038%	1h	235.69	−0.008%	$1.5M	$4.9M	10x
Vest NBIS-USD-PERP	+0.0046%	1h	235.92	+0.089%	—	$224K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit NBISUSDT	+0.0049%	8h	235.69	−0.008%	$5.1M	$6.5M	50x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	236.13	+0.178%	$176K	$505K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.44	−0.115%	$485K	$23K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.54	−0.072%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.60	−0.046%	—	—	10x	as long as short
Bitget NBISUSDT	+0.0108%	8h	235.72	+0.004%	$2.5M	$4.6M	20x	as long as short
SoDEX NBIS-USD	+0.0131%	1h	235.67	−0.017%	$52	$20K	10x	as long as short
Nado NBIS-PERP	+0.0181%	1h	235.61	−0.042%	$31K	$66K	3x	as long as short
edgeX NBISUSDC	+0.0184%	4h	235.95	+0.101%	$38K	$228K	10x	as long as short
Variational Omni NBIS	+0.0240%	8h	236.09	+0.162%	$2.9M	$820K	—	as long as short
Aster NBISUSDT	+0.0247%	8h	235.86	+0.063%	$82K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0255%	8h	235.72	+0.004%	$207K	$211K	20x	as long as short
Binance NBISUSDT	+0.0269%	8h	235.65	−0.025%	$19.6M	$85.6M	25x	as long as short
Extended NBIS-USD	+0.0272%	1h	235.73	+0.009%	$151K	$801K	10x	as long as short
Polymarket Perps NBIS-USD	+0.0301%	1h	235.57	−0.059%	$138K	$451K	10x	as long as short
Lighter NBIS	+0.0328%	1h	235.85	+0.059%	$926K	$4.5M	10x	as long as short
Arcus NBIS-USD	+0.0366%	1h	235.70	−0.004%	$44K	$132K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0398%	1h	235.57	−0.059%	$55.1M	$23.7M	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.89	+0.076%	$7K	$163K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0446%	8h	236.00	+0.123%	$5K	$132K	10x	as long as short
Entropy io:NBISlong	+0.0868%	1h	235.71	long leg	$10.3M	$3.4M	10x