Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.024%

Price spread now: Phemex against Variational Omni−0.049%7-day average +0.012% · you buy dearer than you sell

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.093%−$9 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now −0.049%, 7d avg +0.012%

Together, before fees−0.304%+ Points / potential airdropVariational Omni: Active · farm board−$30 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.061% cheaper against Variational Omni than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	228.94	0	get 0.0000% / 8h	7h 37m	$2.8M	$576K	—
Short	Phemex NBISUSDT	228.83	0	get 0.0000% / 8h	7h 37m	$1.5M	$971K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Variational Omni. 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 Variational OmnibpFee PhemexbpOrdersPrice spread, now −0.049%Rate

Funding earned: $0
Price spread: −0.049% → +0.012%: −$6.06
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$18.06
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Phemex: live order book, 1 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	3.25 bp	doesn't fit	45.8 bp −$458	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	3.28 bp	48.3 bp −$48	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	−0.0280%	8h	229.02	+0.034%	$2.3M	$4.5M	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	229.39	+0.196%	$355K	$806K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	228.81	−0.058%	$81K	$313K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	228.86	−0.036%	$146K	$877K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	228.93	−0.005%	$18.6M	$88.5M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	228.94	−0.001%	$4.8M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	228.91	−0.014%	$3.2M	$15.8M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	228.85	−0.040%	$2.7M	$5.1M	50x	as long as short
Variational Omni NBISlong	0.0000%	8h	228.94	long leg	$2.8M	$576K	—
GRVT NBIS_USDT_Perp	0.0000%	8h	228.78	−0.073%	$4K	$114K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SunX NBIS-USDT	0.0000%	8h	228.91	−0.014%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	228.60	−0.149%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	229.04	+0.043%	$15K	$58K	20x	as long as short
Phemex NBISUSDTshort	0.0000%	8h	228.83	−0.049%	$1.5M	$971K	10x
BloFin NBIS-USDT	+0.0003%	8h	228.86	−0.036%	$202K	$212K	20x	as long as short
Arcus NBIS-USD	+0.0040%	1h	228.86	−0.036%	$42K	$124K	5x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	228.57	−0.163%	—	$224K	5x	as long as short
Polymarket Perps NBIS-USD	+0.0050%	1h	228.70	−0.106%	$136K	$466K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	228.75	−0.084%	$64	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	228.53	−0.180%	$148K	$538K	10x	as long as short
Nado NBIS-PERP	+0.0059%	1h	228.64	−0.133%	$38K	$116K	3x	as long as short
QFEX NBIS-USD	+0.0064%	1h	228.83	−0.049%	$1.5M	$3.7M	10x	as long as short
tradeXYZ xyz:NBIS	+0.0076%	1h	228.76	−0.080%	$53.4M	$21.4M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	228.75	−0.084%	$470K	$56K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	228.82	−0.053%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	228.73	−0.091%	—	—	10x	as long as short
Lighter NBIS	+0.0136%	1h	228.97	+0.012%	$917K	$4.0M	10x	as long as short
Phoenix NBIS	+0.0277%	1h	229.09	+0.065%	$7K	$125K	10x	as long as short
Entropy io:NBIS	+0.0307%	1h	228.85	−0.040%	$10.0M	$3.1M	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0682%	1h	228.71	−0.103%	$22K	$16K	20x	as long as short
edgeX NBISUSDC	+0.0808%	4h	228.81	−0.059%	$37K	$227K	10x	as long as short