Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0207%/8h= −22.7% APRpaid last 24h −0.102%

Price spread now: Orderly against Entropy−0.004%7-day average — · you buy dearer than you sell

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

Long on Entropy Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	228.85	0.0307	pay 0.0038% / 1h	36m 59s	$10.0M	$3.1M	10x
Short	Orderly PERP_NBIS_USDC_mythos	228.84	0.0100	get 0.0100% / 8h	7h 36m	$2K	$3K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.004%Rate

Funding earned: −$43.54
Price spread: −0.004% → 0.000%: −$0.44
Slippage, 4 orders: no order book: not counted
Fee Entropy: 9 bp × 2 orders: −$18
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$67.98
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Entropy: live order book, 8 min ago; Orderly: no order-book sample. 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 Entropy live order book, 8 min ago	1.52 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	−0.0280%	8h	228.55	−0.131%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0016%	8h	228.98	+0.057%	$201K	$212K	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	229.39	+0.236%	$355K	$806K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	228.40	−0.197%	$80K	$313K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	228.46	−0.171%	$146K	$877K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	228.25	−0.263%	$18.5M	$88.5M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	228.19	−0.288%	$4.8M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	228.05	−0.350%	$3.2M	$15.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	228.25	−0.262%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	228.94	+0.040%	$2.8M	$576K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NBIS_USDT_Perp	0.0000%	8h	228.78	−0.032%	$4K	$114K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	228.99	+0.061%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	228.61	−0.105%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	228.61	−0.105%	$15K	$58K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	228.52	−0.144%	$1.5M	$971K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	228.86	+0.004%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	228.57	−0.122%	—	$224K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	228.70	−0.066%	$136K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	228.62	−0.101%	$69	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	228.53	−0.140%	$148K	$538K	10x	as long as short
Nado NBIS-PERP	+0.0059%	1h	228.64	−0.092%	$38K	$116K	3x	as long as short
QFEX NBIS-USD	+0.0064%	1h	228.83	−0.009%	$1.5M	$3.7M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0075%	1h	228.51	−0.149%	$53.3M	$21.4M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	228.46	−0.170%	$470K	$57K	20x	as long as short
Orderly PERP_NBIS_USDC_mythosshort	+0.0100%	8h	228.84	−0.004%	$2K	$3K	10x
Aevo NBIS-PERP	+0.0104%	1h	228.65	−0.085%	—	—	10x	as long as short
Lighter NBIS	+0.0136%	1h	228.59	−0.114%	$915K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	229.09	+0.105%	$7K	$125K	10x	as long as short
Entropy io:NBISlong	+0.0307%	1h	228.85	long leg	$10.0M	$3.1M	10x
Kraken Futures PF_NBISUSD	+0.0682%	1h	228.78	−0.031%	$22K	$16K	20x	as long as short
edgeX NBISUSDC	+0.0808%	4h	228.81	−0.018%	$37K	$227K	10x	as long as short