Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.011%

Price spread now: Variational Omni against Vest−0.160%7-day average −0.433% · you buy dearer than you sell

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

Long on Vest Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.043%+$4 on $10k

Price spread, last 4 days (all we have)+0.147%+$15 · spread now −0.160%, 7d avg −0.433%

Together, before fees+0.190%+ Points / potential airdropVest: Active · Variational Omni: Active · farm board+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Variational Omni is 0.273% dearer against Vest than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of −0.433%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest NBIS-USD-PERP	234.12	0.0046	pay 0.0006% / 1h	43m 52s	—	$250K	5x
Short	Variational Omni NBIS	233.75	0.0111	get 0.0111% / 8h	5h 43m	$2.9M	$646K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Vest. 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 VestbpFee Variational OmnibpOrdersPrice spread, now −0.160%Rate

Funding earned: $13.63
Price spread: −0.160% → −0.433%: $27.3
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $38.93
Costs to cover: 0.020%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Variational Omni: RFQ quote, 3 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 Vest no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	3.22 bp	doesn't fit	35.0 bp −$350	doesn't fit	doesn't fit

Vest: 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 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	233.79	−0.141%	$3.3M	$16.6M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.75	−0.158%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.84	−0.120%	$2.3M	$4.6M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.59	−0.226%	$1K	$1.4M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	233.57	−0.235%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	234.47	+0.149%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.84	−0.120%	$1.6M	$969K	10x	as long as short
Vest NBIS-USD-PERPlong	+0.0046%	1h	234.12	long leg	—	$250K	5x
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.37	−0.320%	$152K	$532K	10x	as long as short
QFEX NBIS-USD	+0.0058%	1h	233.85	−0.115%	$1.6M	$3.6M	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NBISUSDTM	+0.0100%	8h	233.68	−0.188%	$474K	$185K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.83	−0.124%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.84	−0.118%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	234.06	−0.026%	$383K	$883K	10x	as long as short
Variational Omni NBISshort	+0.0111%	8h	233.75	−0.160%	$2.9M	$646K	—
Bybit NBISUSDT	+0.0111%	8h	233.91	−0.090%	$5.4M	$7.0M	50x	as long as short
Polymarket Perps NBIS-USD	+0.0120%	1h	233.81	−0.132%	$133K	$476K	10x	as long as short
edgeX NBISUSDC	+0.0130%	4h	234.18	+0.026%	$31K	$234K	10x	as long as short
Aster NBISUSDT	+0.0146%	8h	234.31	+0.083%	$75K	$314K	50x	as long as short
Binance NBISUSDT	+0.0181%	8h	233.87	−0.107%	$20.6M	$91.5M	25x	as long as short
Extended NBIS-USD	+0.0184%	1h	233.79	−0.140%	$149K	$842K	10x	as long as short
BloFin NBIS-USDT	+0.0197%	8h	233.87	−0.107%	$207K	$217K	20x	as long as short
Nado NBIS-PERP	+0.0239%	1h	233.76	−0.153%	$38K	$85K	3x	as long as short
Kraken Futures PF_NBISUSD	+0.0370%	1h	233.49	−0.270%	$22K	$11K	20x	as long as short
Lighter NBIS	+0.0376%	1h	233.71	−0.175%	$944K	$3.8M	10x	as long as short
Phoenix NBIS	+0.0377%	1h	233.68	−0.188%	$7K	$127K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0397%	1h	233.79	−0.141%	$55.3M	$19.2M	10x	as long as short
Arcus NBIS-USD	+0.0413%	1h	233.79	−0.141%	$42K	$119K	5x	as long as short
SoDEX NBIS-USD	+0.0495%	1h	233.85	−0.115%	$84	$19K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0560%	8h	234.24	+0.052%	$4K	$101K	10x	as long as short
Entropy io:NBIS	+0.0773%	1h	233.90	−0.094%	$10.2M	$3.0M	10x	as long as short