Funding arb · Price arb /

NBIS

RWAall NBIS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0737%/8h= −80.7% APRpaid last 24h −0.131%

Price spread now: SunX against Entropy+0.021%7-day average −0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$236as in the Funding arb table

Net, price: spread back to 7d avg − costs−$163as in the Price arb table

costs, in and out, $10k−$1731.731% of the position

Long on Entropy Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.633%−$63 on $10k

Price spread, last 4 days (all we have)−0.078%−$8 · spread now +0.021%, 7d avg −0.082%

Together, before fees−0.711%−$71 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.104% dearer against Entropy than usual: you sell high and buy low (spread +0.021% now, against its 7-day average of −0.082%): +$10 on $10k if it goes back. Holding the pair costs −$22 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.633% in total) that is about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Entropy io:NBIS	233.78	0.0737	pay 0.0092% / 1h	26m 54s	$10.2M	$3.0M	10x
Short	SunX NBIS-USDT	233.83	0	get 0.0000% / 8h	5h 26m	$1K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.021%Rate

Funding earned: −$154.72
Price spread: +0.021% → −0.082%: $10.36
Slippage, 4 orders: −$147.14
Fee Entropy: 9 bp × 2 orders: −$18
Fee SunX: 4 bp × 2 orders: −$8
Net: −$317.51
Costs to cover: 1.731%
Break-even: never at this rate

Slippage from Entropy: live order book, 2 min ago; SunX: live order book, 11 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, 2 min ago	1.28 bp	18.8 bp −$19	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	45.97 bp	72.4 bp −$72	doesn't fit	doesn't fit	doesn't fit

NBIS on 31 exchanges

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
OKX NBIS-USDT-SWAP	0.0000%	8h	233.91	+0.056%	$3.3M	$16.6M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.85	+0.030%	$2.8M	$5.0M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.90	+0.051%	$2.3M	$4.6M	20x	as long as short
SunX NBIS-USDTshort	0.0000%	8h	233.83	+0.021%	$1K	$1.4M	10x
HTX NBIS-USDT	0.0000%	8h	234.09	+0.133%	$13K	$62K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.90	+0.051%	$1.6M	$970K	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	234.06	+0.120%	—	$250K	5x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0050%	1h	233.78	0.000%	$35K	$49K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.84	+0.026%	$152K	$533K	10x	as long as short
QFEX NBIS-USD	+0.0058%	1h	233.88	+0.043%	$1.6M	$3.6M	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin NBISUSDTM	+0.0100%	8h	233.61	−0.073%	$474K	$205K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.89	+0.047%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.89	+0.049%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0104%	1h	234.06	+0.120%	$383K	$870K	10x	as long as short
Variational Omni NBIS	+0.0117%	8h	233.61	−0.075%	$2.9M	$637K	—	as long as short
Bybit NBISUSDT	+0.0117%	8h	233.93	+0.064%	$5.4M	$7.0M	50x	as long as short
Polymarket Perps NBIS-USD	+0.0129%	1h	233.88	+0.043%	$133K	$476K	10x	as long as short
Aster NBISUSDT	+0.0155%	8h	234.15	+0.160%	$81K	$314K	50x	as long as short
BloFin NBIS-USDT	+0.0160%	8h	233.93	+0.064%	$208K	$218K	20x	as long as short
Binance NBISUSDT	+0.0190%	8h	233.92	+0.060%	$20.6M	$91.4M	25x	as long as short
Extended NBIS-USD	+0.0192%	1h	233.84	+0.026%	$146K	$847K	10x	as long as short
Nado NBIS-PERP	+0.0194%	1h	233.74	−0.018%	$38K	$85K	3x	as long as short
SoDEX NBIS-USD	+0.0202%	1h	233.90	+0.051%	$94	$19K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0370%	1h	233.62	−0.070%	$22K	$11K	20x	as long as short
Phoenix NBIS	+0.0377%	1h	234.06	+0.120%	$7K	$127K	10x	as long as short
Lighter NBIS	+0.0400%	1h	233.99	+0.090%	$949K	$3.8M	10x	as long as short
Arcus NBIS-USD	+0.0413%	1h	233.84	+0.026%	$42K	$119K	5x	as long as short
tradeXYZ xyz:NBIS	+0.0416%	1h	233.93	+0.064%	$55.6M	$18.8M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0452%	8h	233.66	−0.051%	$5K	$101K	10x	as long as short
Entropy io:NBISlong	+0.0737%	1h	233.78	long leg	$10.2M	$3.0M	10x
edgeX NBISUSDC	+0.0824%	4h	233.88	+0.041%	$31K	$232K	10x	as long as short