Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0171%/8h= +18.8% APRpaid last 24h +0.005%

Price spread now: Arcus against Variational Omni−0.186%7-day average −0.064% · you buy dearer than you sell

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

Long on Variational Omni Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.766%−$77 · spread now −0.186%, 7d avg −0.064%

Together, before fees−0.716%+ Points / potential airdropVariational Omni: Active · farm board−$72 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.122% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.186% now, against its 7-day average of −0.064%). If the spread goes back, that is −$12 on $10k: about 2.4 days of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.051% in total) that is about 8.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	235.77	0.0195	pay 0.0195% / 8h	7h 52m	$2.9M	$817K	—
Short	Arcus NBIS-USD	235.33	0.0366	get 0.0046% / 1h	52m 09s	$44K	$134K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee ArcusbpOrdersPrice spread, now −0.186%Rate

Funding earned: $35.97
Price spread: −0.186% → −0.064%: −$12.23
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $19.24
Costs to cover: 0.045%
Break-even: 3.3 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Arcus: live order book, 21 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 Variational Omni RFQ quote, 2 min ago	3.67 bp	doesn't fit	49.5 bp −$495	doesn't fit	doesn't fit
Sell Arcus live order book, 21 min ago	2.98 bp	6.9 bp −$7	11.2 bp −$112	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
Kraken Futures PF_NBISUSD	−0.0178%	1h	235.53	−0.102%	$24K	$15K	20x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	235.95	+0.077%	$3.4M	$17.1M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	235.78	+0.005%	$2.8M	$5.1M	50x	as long as short
Bitget NBISUSDT	0.0000%	8h	235.89	+0.052%	$2.5M	$4.7M	20x	as long as short
SunX NBIS-USDT	0.0000%	8h	235.93	+0.069%	$1K	$1.7M	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	235.69	−0.033%	$15K	$113K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	235.92	+0.064%	$1.6M	$973K	10x	as long as short
Coinbase International NBIS-PERP-INTX	+0.0016%	1h	234.10	−0.708%	$359K	$678K	10x	as long as short
QFEX NBIS-USD	+0.0038%	1h	235.77	+0.001%	$1.5M	$5.1M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	235.94	+0.073%	—	$234K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps NBIS-USD.P	+0.0050%	1h	235.58	−0.080%	$174K	$507K	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	235.66	−0.046%	$486K	$25K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	235.88	+0.047%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	234.59	−0.499%	—	—	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	+0.0132%	1h	235.81	+0.018%	$35K	$48K	10x	as long as short
Nado NBIS-PERP	+0.0176%	1h	235.50	−0.114%	$29K	$63K	3x	as long as short
Variational Omni NBISlong	+0.0195%	8h	235.77	long leg	$2.9M	$817K	—
Bybit NBISUSDT	+0.0197%	8h	236.00	+0.098%	$5.2M	$6.5M	50x	as long as short
Aster NBISUSDT	+0.0214%	8h	235.78	+0.006%	$81K	$308K	50x	as long as short
Extended NBIS-USD	+0.0232%	1h	235.85	+0.035%	$138K	$713K	10x	as long as short
Binance NBISUSDT	+0.0233%	8h	236.03	+0.113%	$19.5M	$86.1M	25x	as long as short
BloFin NBIS-USDT	+0.0237%	8h	235.61	−0.067%	$205K	$213K	20x	as long as short
Arcus NBIS-USDshort	+0.0366%	1h	235.33	−0.186%	$44K	$134K	5x
Lighter NBIS	+0.0408%	1h	235.94	+0.073%	$929K	$4.4M	10x	as long as short
Phoenix NBIS	+0.0409%	1h	235.65	−0.050%	$7K	$163K	10x	as long as short
edgeX NBISUSDC	+0.0438%	4h	235.44	−0.140%	$38K	$228K	10x	as long as short
GRVT NBIS_USDT_Perp	+0.0566%	8h	235.49	−0.118%	$5K	$137K	10x	as long as short
SoDEX NBIS-USD	+0.0681%	1h	235.82	+0.022%	$5	$20K	10x	as long as short
Entropy io:NBIS	+0.0773%	1h	235.36	−0.173%	$10.3M	$3.4M	10x	as long as short
Polymarket Perps NBIS-USD	+0.1344%	1h	235.88	+0.047%	$140K	$434K	10x	as long as short
tradeXYZ xyz:NBIS	+0.1404%	1h	235.84	+0.030%	$54.9M	$23.4M	10x	as long as short