Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0401%/8h= +43.9% APRpaid last 24h +0.106%

Price spread now: Entropy against BloFin−0.086%7-day average +0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$550.554% of the position

Long on BloFin Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.504%+$50 on $10k

Price spread, last 4 days (all we have)+0.190%+$19 · spread now −0.086%, 7d avg +0.074%

Together, before fees+0.694%+$69 on $10k · with fees, hour by hour

Funding pays, the price is against you. Entropy is 0.161% cheaper against BloFin than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.074%). If the spread goes back, that is −$16 on $10k: about 32 hours of funding at the current rate (+$12 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NBIS-USDT	231.35	0.0028	pay 0.0028% / 8h	34m 56s	$203K	$209K	20x
Short	Entropy io:NBIS	231.15	0.0429	get 0.0054% / 1h	34m 56s	$10.1M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against BloFin. 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 BloFinbpFee EntropybpOrdersPrice spread, now −0.086%Rate

Funding earned: $84.28
Price spread: −0.086% → +0.074%: −$16.09
Slippage, 4 orders: −$25.38
Fee BloFin: 6 bp × 2 orders: −$12
Fee Entropy: 9 bp × 2 orders: −$18
Net: $12.82
Costs to cover: 0.554%
Break-even: 5.9 days

Slippage from BloFin: live order book, 36 min ago; Entropy: live order book, 2 min ago.

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 BloFin live order book, 36 min ago	0.22 bp	7.6 bp −$8	16.9 bp −$169	doesn't fit	doesn't fit
Sell Entropy live order book, 2 min ago	1.08 bp	18.9 bp −$19	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	−0.0444%	8h	231.37	+0.009%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.12	−0.098%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.23	−0.051%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.30	−0.023%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.30	−0.022%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.27	−0.035%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.41	+0.026%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	231.17	−0.078%	$2.8M	$594K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	−0.026%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	+0.004%	$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	231.29	−0.026%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.34	−0.004%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDTlong	+0.0028%	8h	231.35	long leg	$203K	$209K	20x
Arcus NBIS-USD	+0.0040%	1h	231.12	−0.099%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.19	−0.069%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.03	−0.138%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.09	−0.112%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.06	−0.125%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.415%	$353K	$814K	10x	as long as short
SoDEX NBIS-USD	+0.0091%	1h	231.25	−0.043%	$102	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.00	−0.151%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.18	−0.073%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.17	−0.079%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0147%	1h	231.10	−0.108%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0171%	1h	231.06	−0.124%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	−0.095%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	−0.023%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0368%	1h	231.17	−0.078%	$931K	$4.0M	10x	as long as short
Entropy io:NBISshort	+0.0429%	1h	231.15	−0.086%	$10.1M	$3.1M	10x
Kraken Futures PF_NBISUSD	+0.0540%	1h	231.13	−0.095%	$23K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0746%	1h	231.13	−0.095%	$34K	$49K	10x	as long as short