Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0540%/8h= −59.2% APRpaid last 24h −0.043%

Price spread now: Variational Omni against Kraken Futures+0.018%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds 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: −$16 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_NBISUSD	231.13	0.0540	pay 0.0068% / 1h	34m 42s	$23K	$15K	20x
Short	Variational Omni NBIS	231.17	0	get 0.0000% / 8h	34m 42s	$2.8M	$594K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now +0.018%Rate

Funding earned: −$113.45
Price spread: +0.018% → 0.000%: $1.76
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$121.69
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: no order-book sample; Variational Omni: RFQ quote, 4 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	2.79 bp	doesn't fit	37.0 bp −$370	doesn't fit	doesn't fit

Kraken Futures: 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	−0.0444%	8h	231.36	+0.100%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	231.14	+0.005%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	231.23	+0.044%	$148K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	231.32	+0.081%	$18.7M	$87.8M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	231.31	+0.078%	$4.9M	$6.8M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	231.27	+0.061%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	231.27	+0.061%	$2.7M	$5.2M	50x	as long as short
Variational Omni NBISshort	0.0000%	8h	231.17	+0.018%	$2.8M	$594K	—
GRVT NBIS_USDT_Perp	0.0000%	8h	231.29	+0.069%	$4K	$116K	10x	as long as short
SunX NBIS-USDT	0.0000%	8h	231.36	+0.100%	$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
HTX NBIS-USDT	0.0000%	8h	231.29	+0.070%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	231.34	+0.091%	$1.6M	$969K	10x	as long as short
BloFin NBIS-USDT	+0.0028%	8h	231.35	+0.096%	$203K	$209K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	231.12	−0.004%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.19	+0.026%	$1.5M	$3.8M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.03	−0.043%	—	$222K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	231.09	−0.017%	$137K	$473K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	231.06	−0.030%	$150K	$543K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0056%	1h	230.39	−0.320%	$353K	$814K	10x	as long as short
SoDEX NBIS-USD	+0.0091%	1h	231.25	+0.052%	$102	$20K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	231.00	−0.056%	$476K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.18	+0.022%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	231.17	+0.017%	—	—	10x	as long as short
tradeXYZ xyz:NBIS	+0.0150%	1h	231.15	+0.009%	$54.3M	$21.1M	10x	as long as short
Nado NBIS-PERP	+0.0171%	1h	231.06	−0.028%	$38K	$116K	3x	as long as short
Phoenix NBIS	+0.0312%	1h	231.13	0.000%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0332%	4h	231.30	+0.072%	$37K	$227K	10x	as long as short
Lighter NBIS	+0.0368%	1h	231.18	+0.022%	$932K	$4.0M	10x	as long as short
Entropy io:NBIS	+0.0437%	1h	231.10	−0.013%	$10.1M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSDlong	+0.0540%	1h	231.13	long leg	$23K	$15K	20x
Deribit NBIS_USDC-PERPETUAL	+0.0746%	1h	231.13	0.000%	$34K	$49K	10x	as long as short