Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0329%/8h= −36.0% APRpaid last 24h −0.110%

Price spread now: KuCoin against Entropy−0.042%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$227as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1821.816% of the position

Long on Entropy Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.453%−$45 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.042%, 7d avg −0.142%

Together, before fees−0.356%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.099% dearer against Entropy than usual: you sell high and buy low (spread −0.042% now, against its 7-day average of −0.142%): +$10 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	235.33	0.0429	pay 0.0054% / 1h	9m 47s	$10.2M	$3.2M	10x
Short	KuCoin NBISUSDTM	235.23	0.0100	get 0.0100% / 8h	4h 09m	$485K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$69
Price spread: −0.042% → −0.142%: $9.94
Slippage, 4 orders: −$151.62
Fee Entropy: 9 bp × 2 orders: −$18
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$240.68
Costs to cover: 1.816%
Break-even: never at this rate

Slippage from Entropy: live order book, 6 min ago; KuCoin: live order book, 3 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	1.06 bp	16.2 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	18.93 bp	72.6 bp −$73	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
Nado NBIS-PERP	−0.0055%	1h	235.26	−0.028%	$38K	$115K	3x	as long as short
Bybit NBISUSDT	0.0000%	8h	235.40	+0.030%	$5.0M	$6.3M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.35	+0.008%	$3.4M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.38	+0.021%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.38	+0.021%	$2.4M	$4.4M	20x	as long as short
Variational Omni NBIS	0.0000%	8h	235.40	+0.030%	$2.9M	$561K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	235.29	−0.017%	$5K	$120K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.44	+0.047%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.32	−0.004%	$15K	$60K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.40	+0.030%	$1.6M	$955K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX NBISUSDC	+0.0029%	4h	235.20	−0.055%	$38K	$227K	10x	as long as short
Aster NBISUSDT	+0.0038%	8h	235.33	+0.002%	$79K	$310K	50x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.34	+0.004%	$1.5M	$4.2M	10x	as long as short
Extended NBIS-USD	+0.0040%	1h	235.33	+0.002%	$150K	$701K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	235.23	−0.042%	$43K	$132K	5x	as long as short
Binance NBISUSDT	+0.0041%	8h	235.40	+0.030%	$19.4M	$84.5M	25x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.61	+0.119%	—	$216K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0050%	1h	235.36	+0.013%	$54.9M	$19.9M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	235.28	−0.021%	$149K	$453K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	235.33	0.000%	$52	$21K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.24	−0.038%	$161K	$502K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	235.56	+0.098%	$389K	$724K	10x	as long as short
BloFin NBIS-USDT	+0.0058%	8h	235.45	+0.051%	$207K	$205K	20x	as long as short
KuCoin NBISUSDTMshort	+0.0100%	8h	235.23	−0.042%	$485K	$21K	20x
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.31	−0.008%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	235.31	−0.008%	—	—	10x	as long as short
Lighter NBIS	+0.0168%	1h	235.50	+0.072%	$903K	$4.1M	10x	as long as short
Phoenix NBIS	+0.0272%	1h	235.26	−0.030%	$7K	$150K	10x	as long as short
Entropy io:NBISlong	+0.0429%	1h	235.33	long leg	$10.2M	$3.2M	10x
Kraken Futures PF_NBISUSD	+0.0477%	1h	235.40	+0.030%	$24K	$15K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0643%	1h	235.42	+0.038%	$35K	$49K	10x	as long as short