Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0445%/8h= −48.7% APRpaid last 24h −0.139%

Price spread now: HTX against Entropy−0.009%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$570.569% of the position

Long on Entropy Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.619%−$62 on $10k

Price spread, last 3 days (all we have)−0.064%−$6 · spread now −0.009%, 7d avg −0.076%

Together, before fees−0.683%−$68 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.067% dearer against Entropy than usual: you sell high and buy low (spread −0.009% now, against its 7-day average of −0.076%): +$7 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 12 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	234.21	0.0445	pay 0.0056% / 1h	50m 38s	$10.2M	$3.3M	10x
Short	HTX NBIS-USDT	234.19	0	get 0.0000% / 8h	5h 50m	$15K	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$93.48
Price spread: −0.009% → −0.076%: $6.75
Slippage, 4 orders: −$26.92
Fee Entropy: 9 bp × 2 orders: −$18
Fee HTX: 6 bp × 2 orders: −$12
Net: −$143.66
Costs to cover: 0.569%
Break-even: never at this rate

Slippage from Entropy: live order book, 6 min ago; HTX: live order book, 75 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, 6 min ago	0.85 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 75 min ago	2.33 bp	13.4 bp −$13	28.2 bp −$282	doesn't fit	doesn't fit

NBIS on 30 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	234.20	−0.004%	$5.0M	$6.2M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	234.09	−0.051%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	234.26	+0.021%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	234.13	−0.034%	$2.4M	$4.4M	20x	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	234.16	−0.023%	$5K	$127K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	234.08	−0.056%	$904	$1.7M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	234.10	−0.047%	$35K	$48K	10x	as long as short
HTX NBIS-USDTshort	0.0000%	8h	234.19	−0.009%	$15K	$60K	20x
Phemex NBISUSDT	0.0000%	8h	234.20	−0.004%	$1.6M	$967K	10x	as long as short
Nado NBIS-PERP	+0.0010%	1h	234.12	−0.040%	$67K	$95K	3x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NBIS-USD	+0.0023%	1h	234.16	−0.021%	$1.5M	$4.4M	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	234.03	−0.077%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.35	+0.060%	—	$215K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	234.09	−0.051%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	234.16	−0.021%	$5	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	234.09	−0.051%	$163K	$499K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0060%	1h	234.19	−0.009%	$54.6M	$19.7M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	234.16	−0.021%	$483K	$21K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	234.19	−0.009%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.17	−0.017%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	233.53	−0.290%	$382K	$712K	10x	as long as short
Variational Omni NBIS	+0.0121%	8h	234.14	−0.030%	$2.8M	$569K	—	as long as short
Aster NBISUSDT	+0.0143%	8h	234.32	+0.046%	$81K	$307K	50x	as long as short
Kraken Futures PF_NBISUSD	+0.0152%	1h	234.24	+0.012%	$23K	$15K	20x	as long as short
Extended NBIS-USD	+0.0152%	1h	234.14	−0.031%	$147K	$698K	10x	as long as short
Binance NBISUSDT	+0.0153%	8h	234.22	+0.003%	$19.1M	$84.7M	25x	as long as short
Lighter NBIS	+0.0280%	1h	234.29	+0.034%	$904K	$4.3M	10x	as long as short
Phoenix NBIS	+0.0308%	1h	234.17	−0.017%	$7K	$150K	10x	as long as short
Entropy io:NBISlong	+0.0445%	1h	234.21	long leg	$10.2M	$3.3M	10x
edgeX NBISUSDC	+0.0894%	4h	234.14	−0.031%	$38K	$226K	10x	as long as short