Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0028%/8h= +3.0% APRpaid last 24h +0.052%

Price spread now: Kraken Futures against Variational Omni−0.295%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 Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 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. Kraken Futures is 0.295% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.295% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 36 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	235.11	0.0221	pay 0.0221% / 8h	13m 09s	$2.9M	$822K	—
Short	Kraken Futures PF_NBISUSD	234.41	0.0248	get 0.0031% / 1h	13m 09s	$24K	$15K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.295%Rate

Funding earned: $5.79
Price spread: −0.295% → 0.000%: −$29.48
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$33.69
Costs to cover: 0.100%
Break-even: 47.7 days

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Kraken Futures: 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, 1 min ago	3.66 bp	doesn't fit	34.6 bp −$346	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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
Bybit NBISUSDT	0.0000%	8h	234.44	−0.283%	$5.2M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.64	−0.198%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.60	−0.215%	$2.8M	$5.3M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.38	−0.309%	$2.5M	$4.8M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.75	−0.151%	$1K	$1.8M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.58	−0.224%	$35K	$48K	10x	as long as short
Coinbase International NBIS-PERP-INTX	0.0000%	1h	234.81	−0.126%	$360K	$679K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.85	−0.109%	$15K	$116K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	234.61	−0.211%	$1.6M	$976K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.01	−0.041%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps NBIS-USD	+0.0050%	1h	234.73	−0.160%	$142K	$738K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.66	−0.190%	$28	$20K	10x	as long as short
QFEX NBIS-USD	+0.0051%	1h	234.72	−0.164%	$1.5M	$5.2M	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0053%	1h	234.98	−0.054%	$174K	$499K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.56	−0.232%	$484K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.71	−0.168%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.74	−0.155%	—	—	10x	as long as short
Nado NBIS-PERP	+0.0194%	1h	234.77	−0.143%	$28K	$63K	3x	as long as short
Variational Omni NBISlong	+0.0221%	8h	235.11	long leg	$2.9M	$822K	—
Aster NBISUSDT	+0.0233%	8h	234.80	−0.130%	$81K	$308K	50x	as long as short
BloFin NBIS-USDT	+0.0247%	8h	234.66	−0.190%	$206K	$213K	20x	as long as short
Extended NBIS-USD	+0.0248%	1h	234.52	−0.249%	$139K	$703K	10x	as long as short
Kraken Futures PF_NBISUSDshort	+0.0248%	1h	234.41	−0.295%	$24K	$15K	20x
GRVT NBIS_USDT_Perp	+0.0249%	8h	235.06	−0.021%	$5K	$138K	10x	as long as short
Binance NBISUSDT	+0.0251%	8h	234.52	−0.248%	$19.4M	$86.5M	25x	as long as short
Arcus NBIS-USD	+0.0269%	1h	234.70	−0.173%	$44K	$134K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0301%	1h	234.62	−0.207%	$54.7M	$23.4M	10x	as long as short
Lighter NBIS	+0.0352%	1h	234.64	−0.198%	$927K	$4.6M	10x	as long as short
Phoenix NBIS	+0.0376%	1h	235.17	+0.027%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0406%	4h	234.92	−0.078%	$38K	$236K	10x	as long as short
Entropy io:NBIS	+0.0491%	1h	234.89	−0.092%	$10.3M	$3.4M	10x	as long as short