Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0076%/8h= +8.4% APRpaid last 24h +0.035%

Price spread now: Nado against Variational Omni−0.106%7-day average −0.016% · you buy dearer than you sell

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.106%, 7d avg −0.016%

Together, before fees+0.053%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.090% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of −0.016%). If the spread goes back, that is −$9 on $10k: about 3.9 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.009% in total) that is about 34 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	230.48	0	get 0.0000% / 8h	1h 39m	$2.8M	$602K	—
Short	Nado NBIS-PERP	230.24	0.0076	get 0.0010% / 1h	39m 32s	$37K	$115K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 NadobpOrdersPrice spread, now −0.106%Rate

Funding earned: $16.05
Price spread: −0.106% → −0.016%: −$8.99
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $0.06
Costs to cover: 0.070%
Break-even: 7.0 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Nado: live order book, 64 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 Variational Omni RFQ quote, 5 min ago	5.05 bp	doesn't fit	40.7 bp −$407	doesn't fit	doesn't fit
Sell Nado live order book, 64 min ago	11.23 bp	30.5 bp −$31	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	−0.0505%	8h	230.43	−0.022%	$2.3M	$4.5M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.39	−0.040%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.31	−0.072%	$144K	$670K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.41	−0.030%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.37	−0.048%	$4.9M	$6.6M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.26	−0.095%	$3.3M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.35	−0.056%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBISlong	0.0000%	8h	230.48	long leg	$2.8M	$602K	—
GRVT NBIS_USDT_Perp	0.0000%	8h	230.55	+0.031%	$5K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.55	+0.031%	$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	230.50	+0.009%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.51	+0.013%	$1.6M	$963K	10x	as long as short
BloFin NBIS-USDT	+0.0014%	8h	230.45	−0.013%	$204K	$205K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.42	−0.026%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.30	−0.078%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.29	−0.082%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.42	−0.026%	$92	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.45	−0.013%	$152K	$547K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.34	−0.061%	$1.5M	$3.9M	10x	as long as short
Nado NBIS-PERPshort	+0.0076%	1h	230.24	−0.106%	$37K	$115K	3x
KuCoin NBISUSDTM	+0.0100%	8h	230.20	−0.121%	$474K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.50	+0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.38	−0.042%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.47	−0.004%	$351K	$812K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0135%	1h	230.28	−0.087%	$54.1M	$20.9M	10x	as long as short
Lighter NBIS	+0.0216%	1h	230.32	−0.069%	$947K	$4.0M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0228%	1h	230.42	−0.026%	$34K	$49K	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.47	−0.004%	$7K	$150K	10x	as long as short
Entropy io:NBIS	+0.0367%	1h	230.48	0.000%	$10.0M	$3.1M	10x	as long as short
edgeX NBISUSDC	+0.0496%	4h	230.48	0.000%	$37K	$226K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0686%	1h	230.53	+0.021%	$23K	$15K	20x	as long as short