Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.002%

Price spread now: Deribit against Variational Omni−0.032%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

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

Funding pays, the price is against you. Deribit is 0.032% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	233.10	0	get 0.0000% / 8h	3h 16m	$2.9M	$552K	—
Short	Deribit NBIS_USDC-PERPETUAL	233.03	0.0179	get 0.0022% / 1h	16m 00s	$35K	$49K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.032%Rate

Funding earned: $37.66
Price spread: −0.032% → 0.000%: −$3.18
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $27.47
Costs to cover: 0.070%
Break-even: 1.9 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Deribit: 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 Variational Omni RFQ quote, 3 min ago	3.69 bp	doesn't fit	30.6 bp −$306	doesn't fit	doesn't fit
Sell Deribit no order-book sample	—	—	—	—	—

Deribit: 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
Aster NBISUSDT	0.0000%	8h	233.22	+0.052%	$78K	$310K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	233.16	+0.026%	$146K	$648K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	233.22	+0.049%	$19.1M	$85.1M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	233.25	+0.063%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	233.15	+0.020%	$3.4M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.13	+0.011%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.25	+0.063%	$2.3M	$4.5M	20x	as long as short
Variational Omni NBISlong	0.0000%	8h	233.10	long leg	$2.9M	$552K	—
GRVT NBIS_USDT_Perp	0.0000%	8h	233.38	+0.118%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.01	−0.040%	$1K	$1.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NBIS-USDT	0.0000%	8h	233.51	+0.174%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.06	−0.019%	$1.6M	$954K	10x	as long as short
BloFin NBIS-USDT	+0.0007%	8h	232.95	−0.066%	$206K	$205K	20x	as long as short
Nado NBIS-PERP	+0.0020%	1h	232.92	−0.081%	$38K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0034%	1h	233.15	+0.020%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	232.94	−0.070%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	233.21	+0.045%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0049%	1h	233.17	+0.027%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	233.12	+0.007%	$54.3M	$20.1M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	233.05	−0.023%	$147K	$456K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	232.96	−0.062%	$103	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.01	−0.040%	$160K	$500K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.05	−0.023%	$480K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.03	−0.032%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.96	−0.064%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	232.88	−0.096%	$361K	$767K	10x	as long as short
Deribit NBIS_USDC-PERPETUALshort	+0.0179%	1h	233.03	−0.032%	$35K	$49K	10x
Lighter NBIS	+0.0224%	1h	233.12	+0.007%	$924K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0239%	1h	232.87	−0.100%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0287%	1h	233.07	−0.015%	$10.1M	$3.2M	10x	as long as short
edgeX NBISUSDC	+0.0340%	4h	233.36	+0.110%	$37K	$227K	10x	as long as short