Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0383%/8h= +41.9% APRpaid last 24h +0.135%

Price spread now: Entropy against SunX+0.100%7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$102as in the Funding arb table

Net, price: spread back to 7d avg − costs−$165as in the Price arb table

costs, in and out, $10k−$1661.656% of the position

Long on SunX Short on Entropy

What this pair did over the last

the charts below follow

Funding, last 7 days+0.635%+$64 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.100%, 7d avg +0.091%

Together, before fees+0.616%+$62 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.091%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NBIS-USDT	230.53	0	get 0.0000% / 8h	1h 42m	$1K	$1.6M	10x
Short	Entropy io:NBIS	230.76	0.0383	get 0.0048% / 1h	42m 13s	$10.0M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Entropy against SunX. 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 SunXbpFee EntropybpOrdersPrice spread, now +0.100%Rate

Funding earned: $80.35
Price spread: +0.100% → +0.091%: $0.89
Slippage, 4 orders: −$139.62
Fee SunX: 4 bp × 2 orders: −$8
Fee Entropy: 9 bp × 2 orders: −$18
Net: −$84.37
Costs to cover: 1.656%
Break-even: 14.3 days

Slippage from SunX: live order book, 3 min ago; Entropy: live order book, 5 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 SunX live order book, 3 min ago	45.07 bp	63.4 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Entropy live order book, 5 min ago	1.51 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit

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	−0.0468%	8h	230.55	+0.009%	$2.3M	$4.6M	20x	as long as short
Aster NBISUSDT	0.0000%	8h	230.65	+0.050%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.51	−0.007%	$144K	$678K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.62	+0.040%	$18.5M	$87.3M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.58	+0.022%	$4.9M	$6.5M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.58	+0.022%	$3.3M	$16.2M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.60	+0.030%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBIS	0.0000%	8h	230.87	+0.149%	$2.8M	$602K	—	as long as short
GRVT NBIS_USDT_Perp	0.0000%	8h	230.91	+0.164%	$5K	$116K	10x	as long as short
SunX NBIS-USDTlong	0.0000%	8h	230.53	long leg	$1K	$1.6M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.40	−0.056%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	230.86	+0.143%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.62	+0.039%	$1.6M	$963K	10x	as long as short
BloFin NBIS-USDT	+0.0001%	8h	230.38	−0.065%	$203K	$205K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.59	+0.026%	$42K	$132K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	230.33	−0.087%	—	$221K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	230.41	−0.052%	$137K	$473K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.43	−0.043%	$88	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.31	−0.095%	$151K	$547K	10x	as long as short
QFEX NBIS-USD	+0.0056%	1h	230.44	−0.039%	$1.5M	$3.9M	10x	as long as short
Nado NBIS-PERP	+0.0064%	1h	230.41	−0.051%	$37K	$115K	3x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.52	−0.004%	$475K	$20K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	230.56	+0.013%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.52	−0.002%	—	—	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0120%	1h	230.50	−0.013%	$350K	$812K	10x	as long as short
tradeXYZ xyz:NBIS	+0.0137%	1h	230.38	−0.065%	$54.2M	$21.0M	10x	as long as short
Lighter NBIS	+0.0192%	1h	230.63	+0.043%	$947K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0311%	1h	230.96	+0.187%	$7K	$150K	10x	as long as short
Entropy io:NBISshort	+0.0383%	1h	230.76	+0.100%	$10.0M	$3.1M	10x
edgeX NBISUSDC	+0.0470%	4h	230.86	+0.144%	$37K	$228K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0686%	1h	230.49	−0.018%	$23K	$15K	20x	as long as short