Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0143%/8h= −15.6% APRpaid last 24h +0.008%

Price spread now: Variational Omni against SoDEX+0.232%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.232% dearer against SoDEX than usual: you sell high and buy low (spread +0.232% now, against zero (this spread has no 7-day history yet)): +$23 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX NBIS-USD	228.85	0.0143	pay 0.0018% / 1h	20m 34s	$69	$20K	10x
Short	Variational Omni NBIS	229.38	0	get 0.0000% / 8h	7h 20m	$2.8M	$597K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SoDEX. 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 SoDEXbpFee Variational OmnibpOrdersPrice spread, now +0.232%Rate

Funding earned: −$29.96
Price spread: +0.232% → 0.000%: $23.24
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$14.73
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SoDEX: no order-book sample; Variational Omni: RFQ quote, 4 min ago. 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 SoDEX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	3.25 bp	doesn't fit	50.2 bp −$502	doesn't fit	doesn't fit

SoDEX: 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	−0.0198%	8h	229.36	+0.223%	$2.3M	$4.6M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	226.87	−0.865%	$352K	$801K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	228.77	−0.037%	$73K	$320K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	229.37	+0.229%	$143K	$859K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	229.40	+0.240%	$18.4M	$89.7M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	229.44	+0.258%	$4.8M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	229.33	+0.210%	$3.2M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	229.26	+0.179%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBISshort	0.0000%	8h	229.38	+0.232%	$2.8M	$597K	—
GRVT NBIS_USDT_Perp	0.0000%	8h	228.55	−0.130%	$4K	$113K	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	229.11	+0.114%	$1K	$1.6M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	228.88	+0.013%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	229.10	+0.109%	$1.5M	$971K	10x	as long as short
BloFin NBIS-USDT	+0.0015%	8h	229.14	+0.127%	$202K	$213K	20x	as long as short
edgeX NBISUSDC	+0.0030%	4h	228.53	−0.139%	$37K	$227K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	229.44	+0.258%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	229.27	+0.184%	—	$246K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	229.20	+0.153%	$136K	$466K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	229.31	+0.201%	$147K	$534K	10x	as long as short
QFEX NBIS-USD	+0.0064%	1h	229.41	+0.245%	$1.5M	$3.7M	10x	as long as short
Nado NBIS-PERP	+0.0070%	1h	228.51	−0.146%	$38K	$116K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	229.04	+0.083%	$471K	$75K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	228.85	0.000%	$2K	$3K	10x	as long as short
Lighter NBIS	+0.0104%	1h	229.35	+0.218%	$900K	$4.1M	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	228.83	−0.010%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0108%	1h	229.37	+0.227%	$53.5M	$21.6M	10x	as long as short
SoDEX NBIS-USDlong	+0.0143%	1h	228.85	long leg	$69	$20K	10x
Phoenix NBIS	+0.0277%	1h	227.46	−0.607%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0312%	1h	228.77	−0.035%	$10.0M	$3.1M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0624%	1h	229.13	+0.122%	$34K	$49K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0682%	1h	228.81	−0.019%	$22K	$16K	20x	as long as short