Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0167%/8h= +18.3% APRpaid last 24h +0.002%

Price spread now: Variational Omni against SoDEX+0.130%7-day average — · you sell dearer than you buy

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

Long on SoDEX 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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Variational Omni is 0.130% dearer against SoDEX than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX NBIS-USD	233.73	0.0050	pay 0.0006% / 1h	57m 06s	$1K	$20K	10x
Short	Variational Omni NBIS	234.03	0.0217	get 0.0217% / 8h	4h 57m	$2.9M	$631K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against SoDEX. 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 SoDEXbpFee Variational OmnibpOrdersPrice spread, now +0.130%Rate

Funding earned: $35.01
Price spread: +0.130% → 0.000%: $12.96
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $39.97
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: SoDEX: no order-book sample; Variational Omni: RFQ quote, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 5 min ago	5.02 bp	doesn't fit	44.4 bp −$444	doesn't fit	doesn't fit

SoDEX: 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 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	233.77	+0.017%	$3.3M	$16.3M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	233.76	+0.013%	$2.8M	$4.8M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	233.80	+0.030%	$2.3M	$4.4M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	233.80	+0.030%	$959	$1.4M	10x	as long as short
Phemex NBISUSDT	0.0000%	8h	233.79	+0.026%	$1.6M	$968K	10x	as long as short
HTX NBIS-USDT	+0.0025%	8h	233.85	+0.051%	$13K	$61K	20x	as long as short
Kraken Futures PF_NBISUSD	+0.0039%	1h	233.64	−0.038%	$22K	$10K	20x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0050%	1h	233.75	+0.009%	$35K	$48K	10x	as long as short
SoDEX NBIS-USDlong	+0.0050%	1h	233.73	long leg	$1K	$20K	10x
Ondo Perps NBIS-USD.P	+0.0050%	1h	233.86	+0.056%	$151K	$524K	10x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NBIS-USD-PERP	+0.0052%	1h	234.13	+0.171%	—	$250K	5x	as long as short
QFEX NBIS-USD	+0.0053%	1h	233.76	+0.013%	$1.6M	$3.6M	10x	as long as short
Polymarket Perps NBIS-USD	+0.0078%	1h	233.79	+0.026%	$129K	$478K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	233.66	−0.030%	$474K	$239K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	233.81	+0.034%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	233.84	+0.045%	—	—	10x	as long as short
edgeX NBISUSDC	+0.0145%	4h	234.12	+0.168%	$31K	$232K	10x	as long as short
Nado NBIS-PERP	+0.0193%	1h	233.59	−0.059%	$38K	$82K	3x	as long as short
Variational Omni NBISshort	+0.0217%	8h	234.03	+0.130%	$2.9M	$631K	—
Coinbase International NBIS-PERP-INTX	+0.0224%	1h	234.06	+0.141%	$383K	$862K	10x	as long as short
Bybit NBISUSDT	+0.0239%	8h	233.76	+0.013%	$5.4M	$6.9M	50x	as long as short
Aster NBISUSDT	+0.0243%	8h	234.24	+0.220%	$81K	$314K	50x	as long as short
tradeXYZ xyz:NBIS	+0.0264%	1h	233.73	0.000%	$55.6M	$18.7M	10x	as long as short
Binance NBISUSDT	+0.0277%	8h	233.82	+0.036%	$20.6M	$90.6M	25x	as long as short
Extended NBIS-USD	+0.0280%	1h	233.72	−0.002%	$146K	$1.0M	10x	as long as short
BloFin NBIS-USDT	+0.0289%	8h	233.92	+0.081%	$208K	$217K	20x	as long as short
Phoenix NBIS	+0.0377%	1h	233.79	+0.026%	$7K	$117K	10x	as long as short
Lighter NBIS	+0.0472%	1h	233.81	+0.034%	$948K	$3.7M	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0575%	8h	234.14	+0.176%	$5K	$102K	10x	as long as short
Entropy io:NBIS	+0.0688%	1h	233.90	+0.073%	$10.2M	$2.9M	10x	as long as short
Arcus NBIS-USD	+0.0870%	1h	233.76	+0.013%	$42K	$117K	5x	as long as short