Funding you earn now, next payment 06:00 UTC+0.0061%/8h= +6.7% APRnext payment +$0.08 per $10,000 · paid last 24h +0.039%
Price spread now: Entropy against Phoenix+0.056%7-day average −0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs−$68as in the Funding arb table
Net, price: spread back to 7d avg − costs−$66as in the Price arb table
costs, in and out, $10k−$720.724% of the position
Funding, last 7 days+0.043%+$4 on $10k
+Price spread, last 4 days (all we have)−0.168%−$17 · spread now +0.056%, 7d avg −0.012%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Entropy is 0.068% dearer against Phoenix than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.012%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NBIS | 230.47 | 0.0311 | pay 0.0039% / 1h | 40m 18s | $7K | $150K | 10x |
| Short | Entropy io:NBIS | 230.60 | 0.0372 | get 0.0046% / 1h | 40m 18s | $10.0M | $3.1M | 10x |
Phoenix NBIS
Entropy io:NBISFunding history
latest
Range statsloading…
Price spread between the two exchanges
Entropy against Phoenix. 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
- $12.84
- Price spread: +0.056% → −0.012%
- $6.81
- Slippage, 4 orders
- −$47.41
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Entropy: 9 bp × 2 orders
- −$18
- Net
- −$52.75
- Costs to cover
- 0.724%
- Break-even
- 35.7 days
Slippage from Phoenix: live order book, 61 min ago; Entropy: live order book, 7 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 Phoenix live order book, 61 min ago | 6.07 bp | 17.2 bp −$17 | 37.7 bp −$377 | doesn't fit | doesn't fit |
| Sell Entropy live order book, 7 min ago | 1.51 bp | 20.6 bp −$21 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Bitget NBISUSDT | −0.0493% | 8h | 230.57 | +0.043% | $2.3M | $4.6M | 20x | as long as short |
| Aster NBISUSDT | 0.0000% | 8h | 230.38 | −0.038% | $84K | $311K | 50x | as long as short |
| Extended NBIS-USD | 0.0000% | 1h | 230.48 | +0.004% | $144K | $670K | 10x | as long as short |
| Binance NBISUSDT | 0.0000% | 8h | 230.47 | −0.002% | $18.5M | $87.3M | 25x | as long as short |
| Bybit NBISUSDT | 0.0000% | 8h | 230.43 | −0.017% | $4.9M | $6.6M | 50x | as long as short |
| OKX NBIS-USDT-SWAP | 0.0000% | 8h | 230.49 | +0.009% | $3.3M | $16.1M | 25x | as long as short |
| Gate NBIS_USDT | 0.0000% | 8h | 230.55 | +0.035% | $2.7M | $5.1M | 50x | as long as short |
| Variational Omni NBIS | 0.0000% | 8h | 230.48 | +0.004% | $2.8M | $602K | — | as long as short |
| GRVT NBIS_USDT_Perp | 0.0000% | 8h | 230.38 | −0.040% | $5K | $116K | 10x | as long as short |
| SunX NBIS-USDT | 0.0000% | 8h | 230.55 | +0.035% | $1K | $1.6M | 10x | as long as short |
Bitget NBISUSDT
Aster NBISUSDT
Extended NBIS-USD
Binance NBISUSDT
Bybit NBISUSDT
OKX NBIS-USDT-SWAP
Gate NBIS_USDT
Variational Omni NBIS
GRVT NBIS_USDT_Perp
SunX NBIS-USDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX NBIS-USDT | 0.0000% | 8h | 230.50 | +0.013% | $15K | $57K | 20x | as long as short |
| Phemex NBISUSDT | 0.0000% | 8h | 230.51 | +0.017% | $1.6M | $963K | 10x | as long as short |
| BloFin NBIS-USDT | +0.0014% | 8h | 230.45 | −0.009% | $204K | $205K | 20x | as long as short |
| Arcus NBIS-USD | +0.0040% | 1h | 230.49 | +0.009% | $42K | $132K | 5x | as long as short |
| Vest NBIS-USD-PERP | +0.0046% | 1h | 230.44 | −0.013% | — | $221K | 5x | as long as short |
| Polymarket Perps NBIS-USD | +0.0050% | 1h | 230.45 | −0.009% | $137K | $473K | 10x | as long as short |
| SoDEX NBIS-USD | +0.0050% | 1h | 230.42 | −0.022% | $92 | $20K | 10x | as long as short |
| Ondo Perps NBIS-USD.P | +0.0050% | 1h | 230.31 | −0.069% | $152K | $547K | 10x | as long as short |
| QFEX NBIS-USD | +0.0056% | 1h | 230.58 | +0.048% | $1.5M | $3.9M | 10x | as long as short |
| Nado NBIS-PERP | +0.0075% | 1h | 230.49 | +0.009% | $37K | $115K | 3x | as long as short |
| KuCoin NBISUSDTM | +0.0100% | 8h | 230.45 | −0.009% | $475K | $20K | 20x | as long as short |
| Orderly PERP_NBIS_USDC_mythos | +0.0100% | 8h | 230.50 | +0.013% | $2K | $3K | 10x | as long as short |
| Aevo NBIS-PERP | +0.0104% | 1h | 230.38 | −0.038% | — | — | 10x | as long as short |
| Coinbase International NBIS-PERP-INTX | +0.0120% | 1h | 230.47 | 0.000% | $351K | $812K | 10x | as long as short |
| tradeXYZ xyz:NBIS | +0.0136% | 1h | 230.49 | +0.009% | $54.2M | $21.0M | 10x | as long as short |
| Lighter NBIS | +0.0216% | 1h | 230.61 | +0.061% | $947K | $4.0M | 10x | as long as short |
| Deribit NBIS_USDC-PERPETUAL | +0.0228% | 1h | 230.42 | −0.022% | $34K | $49K | 10x | as long as short |
| Phoenix NBISlong | +0.0311% | 1h | 230.47 | long leg | $7K | $150K | 10x | |
| Entropy io:NBISshort | +0.0372% | 1h | 230.60 | +0.056% | $10.0M | $3.1M | 10x | |
| edgeX NBISUSDC | +0.0470% | 4h | 230.86 | +0.170% | $37K | $228K | 10x | as long as short |
| Kraken Futures PF_NBISUSD | +0.0686% | 1h | 230.53 | +0.025% | $23K | $15K | 20x | as long as short |
HTX NBIS-USDT
Phemex NBISUSDT
BloFin NBIS-USDT
Arcus NBIS-USD
Vest NBIS-USD-PERP
Polymarket Perps NBIS-USD
SoDEX NBIS-USD
Ondo Perps NBIS-USD.P
QFEX NBIS-USD
Nado NBIS-PERP
KuCoin NBISUSDTM
Orderly PERP_NBIS_USDC_mythos
Aevo NBIS-PERP
Coinbase International NBIS-PERP-INTX
tradeXYZ xyz:NBIS
Lighter NBIS
Deribit NBIS_USDC-PERPETUAL
edgeX NBISUSDC
Kraken Futures PF_NBISUSD