data as of
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Price arb /

NBIS

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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$47
spread now+0.106%7d average−0.004%fees + slippage, in and out−$58spread needed0.578%
Long on PhoenixShort on Entropy
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongPhoenix NBIS236.000.0270pay 0.0034% / 1h47m 25s$7K$178K10x
ShortEntropy io:NBIS236.250.0302get 0.0038% / 1h47m 25s$10.3M$3.2M10x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
$10.59
Funding while held
$0.94
Slippage, 4 orders
−$32.85
Fee Phoenix: 3.5 bp × 2 orders
−$7
Fee Entropy: 9 bp × 2 orders
−$18
Net
−$46.31
Spread needed to break even
0.578%
Slippage from Phoenix: live order book, 42 min ago; Entropy: live order book, 10 min ago.

Cost of waiting

funding view
Funding /8h
+0.0031%
Per $10,000 a day
+$0.94
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Phoenix live order book, 42 min ago4.71 bp14.1 bp −$1430.2 bp −$302doesn't fitdoesn't fit
Sell Entropy live order book, 10 min ago1.27 bp12.0 bp −$1216.0 bp −$160doesn't fitdoesn't fit

NBIS price on every exchange

against the cheapest. Click to use as the short leg.
Coinbase International235.00cheapestOrderly235.77+0.328%Binance235.78+0.331%tradeXYZ235.80+0.340%Bitget235.82+0.349%Bybit235.83+0.353%Polymarket Perps235.85+0.362%KuCoin235.87+0.370%Arcus235.92+0.391%Gate235.92+0.391%OKX235.93+0.396%
Phoenix236.00+0.426%
QFEX236.03+0.438%Kraken Futures236.03+0.440%Nado236.06+0.453%HTX236.10+0.468%Deribit236.12+0.477%Variational Omni236.15+0.488%SunX236.17+0.498%SoDEX236.17+0.498%Aevo236.19+0.505%Extended236.20+0.512%Aster236.21+0.513%
Entropy236.25+0.532%
Ondo Perps236.25+0.532%Phemex236.25+0.532%Vest236.27+0.540%edgeX236.28+0.543%BloFin236.32+0.562%Lighter236.33+0.566%

NBIS on 30 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Coinbase International NBIS-PERP-INTX−0.424%+0.0120%1h$371K$558K10xas long as short
Orderly PERP_NBIS_USDC_mythos−0.097%+0.0100%8h$2K$4K10xas long as short
Binance NBISUSDT−0.094%+0.0006%8h$21.1M$74.8M25xas long as short
tradeXYZ xyz:NBIS−0.085%+0.0190%1h$54.7M$20.7M10xas long as short
Bitget NBISUSDT−0.076%0.0000%8h$2.6M$4.4M20xas long as short
Bybit NBISUSDT−0.072%0.0000%8h$5.3M$5.8M50xas long as short
Polymarket Perps NBIS-USD−0.064%+0.0050%1h$129K$532K10xas long as short
KuCoin NBISUSDTM−0.055%+0.0100%8h$497K$21K20xas long as short
Arcus NBIS-USD−0.034%+0.0040%1h$41K$93K5xas long as short
Gate NBIS_USDT−0.034%0.0000%8h$3.0M$4.7M50xas long as short
Show all 30 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
OKX NBIS-USDT-SWAP−0.030%0.0000%8h$3.5M$15.7M25xas long as short
Phoenix NBISlong0.000%+0.0270%1h$7K$178K10x
QFEX NBIS-USD+0.013%+0.0037%1h$1.3M$4.6M10xas long as short
Kraken Futures PF_NBISUSD+0.014%−0.0084%1h$25K$10K20xas long as short
Nado NBIS-PERP+0.027%+0.0233%1h$30K$65K3xas long as short
HTX NBIS-USDT+0.042%0.0000%8h$15K$115K20xas long as short
Deribit NBIS_USDC-PERPETUAL+0.051%0.0000%1h$36K$88K10xas long as short
Variational Omni NBIS+0.062%0.0000%8h$2.9M$887K—as long as short
SunX NBIS-USDT+0.072%0.0000%8h$1K$1.7M10xas long as short
SoDEX NBIS-USD+0.072%+0.0050%1h$118$20K10xas long as short
Aevo NBIS-PERP+0.079%+0.0104%1h——10xas long as short
Extended NBIS-USD+0.086%+0.0008%1h$139K$696K10xas long as short
Aster NBISUSDT+0.087%+0.0123%8h$110K$238K50xas long as short
Entropy io:NBISshort+0.106%+0.0302%1h$10.3M$3.2M10x
Ondo Perps NBIS-USD.P+0.106%+0.0050%1h$158K$485K10xas long as short
Phemex NBISUSDT+0.106%0.0000%8h$1.6M$855K10xas long as short
Vest NBIS-USD-PERP+0.114%+0.0046%1h—$188K5xas long as short
edgeX NBISUSDC+0.117%+0.0918%4h$38K$238K10xas long as short
BloFin NBIS-USDT+0.136%+0.0038%8h$216K$212K20xas long as short
Lighter NBIS+0.140%+0.0344%1h$1.0M$4.3M10xas long as short