NBIS

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0239%/8h= −26.1% APRnext payment −$0.30 per $10,000 · paid last 24h −0.104%

Price spread now: Arcus against Entropy−0.021%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Entropy Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)+0.014%+$1 · spread now −0.021%, 7d avg −0.095%

Together, before fees−0.007%−$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.074% dearer against Entropy than usual: you sell high and buy low (spread −0.021% now, against its 7-day average of −0.095%): +$7 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 4 days (−0.021% in total) that is about 12 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.021% in total (about -2.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	233.02	0.0279	pay 0.0035% / 1h	17m 16s	$10.1M	$3.2M	10x
Short	Arcus NBIS-USD	232.97	0.0040	get 0.0005% / 1h	17m 16s	$42K	$132K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Entropy. 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 EntropybpFee ArcusbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$50.11
Price spread: −0.021% → −0.095%: $7.39
Slippage, 4 orders: −$28.24
Fee Entropy: 9 bp × 2 orders: −$18
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$93.47
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from Entropy: live order book, 10 min ago; Arcus: live order book, 36 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 Entropy live order book, 10 min ago	0.64 bp	14.9 bp −$15	doesn't fit	doesn't fit	doesn't fit
Sell Arcus live order book, 36 min ago	3.41 bp	8.9 bp −$9	15.7 bp −$157	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
Aster NBISUSDT	0.0000%	8h	232.97	−0.022%	$78K	$310K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	232.80	−0.092%	$146K	$652K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	232.88	−0.059%	$19.1M	$85.1M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	232.90	−0.051%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	232.87	−0.064%	$3.4M	$16.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	232.97	−0.021%	$2.7M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	232.87	−0.064%	$2.3M	$4.5M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	233.38	+0.156%	$2.9M	$558K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	233.38	+0.154%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	232.93	−0.039%	$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
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	232.95	−0.030%	$35K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	233.51	+0.210%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	232.96	−0.026%	$1.6M	$954K	10x	as long as short
BloFin NBIS-USDT	+0.0007%	8h	232.95	−0.030%	$206K	$205K	20x	as long as short
Nado NBIS-PERP	+0.0021%	1h	232.74	−0.121%	$38K	$115K	3x	as long as short
QFEX NBIS-USD	+0.0034%	1h	232.88	−0.060%	$1.5M	$4.0M	10x	as long as short
Arcus NBIS-USDshort	+0.0040%	1h	232.97	−0.021%	$42K	$132K	5x
Vest NBIS-USD-PERP	+0.0046%	1h	232.98	−0.017%	—	$216K	5x	as long as short
Kraken Futures PF_NBISUSD	+0.0049%	1h	232.91	−0.048%	$23K	$15K	20x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	232.82	−0.086%	$54.3M	$20.1M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	232.82	−0.086%	$146K	$456K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	232.79	−0.099%	$102	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.01	−0.004%	$160K	$500K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	232.83	−0.082%	$480K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	232.87	−0.064%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	232.83	−0.084%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.30	+0.120%	$362K	$764K	10x	as long as short
Lighter NBIS	+0.0216%	1h	232.89	−0.056%	$923K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0239%	1h	232.87	−0.064%	$7K	$150K	10x	as long as short
Entropy io:NBISlong	+0.0279%	1h	233.02	long leg	$10.1M	$3.2M	10x
edgeX NBISUSDC	+0.0340%	4h	233.36	+0.146%	$37K	$227K	10x	as long as short