Funding arb · Price arb /

NBIS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.036%

Price spread now: tradeXYZ against Variational Omni−0.220%7-day average −0.053% · you buy dearer than you sell

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

Long on Variational Omni Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.031%+$3 on $10k

Price spread, last 7 days+0.180%+$18 · spread now −0.220%, 7d avg −0.053%

Together, before fees+0.211%+ Points / potential airdropVariational Omni: Active · tradeXYZ: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.168% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.220% now, against its 7-day average of −0.053%). If the spread goes back, that is −$17 on $10k: about 11 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NBIS	231.10	0	get 0.0000% / 8h	7h 59m	$2.8M	$582K	—
Short	tradeXYZ xyz:NBIS	230.59	0.0050	get 0.0006% / 1h	59m 07s	$53.9M	$21.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.220%Rate

Funding earned: $10.5
Price spread: −0.220% → −0.053%: −$16.76
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$24.26
Costs to cover: 0.180%
Break-even: 23.2 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; tradeXYZ: live order book, 10 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, 5 min ago	3.70 bp	doesn't fit	51.9 bp −$519	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 10 min ago	1.08 bp	12.6 bp −$13	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	−0.0352%	8h	230.73	−0.160%	$2.3M	$4.5M	20x	as long as short
BloFin NBIS-USDT	−0.0015%	8h	230.93	−0.073%	$204K	$212K	20x	as long as short
Coinbase International NBIS-PERP-INTX	−0.0008%	1h	230.90	−0.086%	$357K	$810K	10x	as long as short
Aster NBISUSDT	0.0000%	8h	230.91	−0.080%	$84K	$311K	50x	as long as short
Extended NBIS-USD	0.0000%	1h	230.89	−0.090%	$145K	$876K	10x	as long as short
Binance NBISUSDT	0.0000%	8h	230.72	−0.164%	$18.8M	$88.1M	25x	as long as short
Bybit NBISUSDT	0.0000%	8h	230.84	−0.112%	$4.9M	$6.7M	50x	as long as short
OKX NBIS-USDT-SWAP	0.0000%	8h	230.58	−0.224%	$3.3M	$15.9M	25x	as long as short
Gate NBIS_USDT	0.0000%	8h	230.82	−0.121%	$2.7M	$5.0M	50x	as long as short
Variational Omni NBISlong	0.0000%	8h	231.10	long leg	$2.8M	$582K	—

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NBIS_USDT_Perp	0.0000%	8h	231.13	+0.012%	$4K	$115K	10x	as long as short
Nado NBIS-PERP	0.0000%	1h	230.72	−0.166%	$38K	$116K	3x	as long as short
SunX NBIS-USDT	0.0000%	8h	230.82	−0.121%	$1K	$1.6M	10x	as long as short
Deribit NBIS_USDC-PERPETUAL	0.0000%	1h	230.78	−0.138%	$34K	$49K	10x	as long as short
HTX NBIS-USDT	0.0000%	8h	231.16	+0.026%	$15K	$57K	20x	as long as short
Phemex NBISUSDT	0.0000%	8h	230.83	−0.116%	$1.6M	$972K	10x	as long as short
Arcus NBIS-USD	+0.0040%	1h	230.84	−0.112%	$42K	$131K	5x	as long as short
QFEX NBIS-USD	+0.0041%	1h	231.00	−0.043%	$1.5M	$3.7M	10x	as long as short
Vest NBIS-USD-PERP	+0.0046%	1h	231.05	−0.021%	—	$223K	5x	as long as short
tradeXYZ xyz:NBISshort	+0.0050%	1h	230.59	−0.220%	$53.9M	$21.3M	10x
Polymarket Perps NBIS-USD	+0.0050%	1h	230.66	−0.190%	$137K	$468K	10x	as long as short
SoDEX NBIS-USD	+0.0050%	1h	230.82	−0.121%	$78	$20K	10x	as long as short
Ondo Perps NBIS-USD.P	+0.0050%	1h	230.98	−0.051%	$150K	$542K	10x	as long as short
Entropy io:NBIS	+0.0080%	1h	231.07	−0.012%	$10.1M	$3.1M	10x	as long as short
KuCoin NBISUSDTM	+0.0100%	8h	230.84	−0.112%	$475K	$35K	20x	as long as short
Orderly PERP_NBIS_USDC_mythos	+0.0100%	8h	231.00	−0.043%	$2K	$3K	10x	as long as short
Aevo NBIS-PERP	+0.0104%	1h	230.95	−0.066%	—	—	10x	as long as short
Lighter NBIS	+0.0296%	1h	230.66	−0.190%	$928K	$3.9M	10x	as long as short
Phoenix NBIS	+0.0312%	1h	231.09	−0.004%	$7K	$125K	10x	as long as short
edgeX NBISUSDC	+0.0618%	4h	231.21	+0.047%	$37K	$227K	10x	as long as short
Kraken Futures PF_NBISUSD	+0.0676%	1h	230.85	−0.108%	$23K	$15K	20x	as long as short