NBIS funding rates

NBIS perpetual funding is currently quoted across 16 venues, ranging from +0.0% to +31.3% APR. The most reliable delta-neutral pairing for NBIS right now is long Variational / short Phoenix at +3.7% net APR (high risk, ~1.1d to break even).

as of 2026-09-12 14:55 UTC

Best delta-neutral pairing

Long Variational / Short Phoenix

+3.7% net APR

Backtested (30d): +9.6%
Stability: 81%
Risk: high
Breakeven: ~1.1d

Ranked by 30-day reliability (backtest × stability × risk) — the spread that holds, not just the widest current rate.

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NBIS funding by exchange

Exchange	Funding APR	Interval
Nado	+31.25%	24h
Kraken	+28.35%	1h
TxFlow	+10.95%	1h
Phoenix	+7.80%	1h
Ondo	+5.52%	1h
TradeXYZ	+5.48%	1h
Polymarket	+5.47%	1h
SoDEX	+5.47%	1h
Arcus	+4.18%	1h
Lighter	+3.50%	1h
Entropy	+1.37%	1h
QFEX	+0.00%	1h
Variational	+0.00%	8h
Grvt	+0.00%	8h
Aster	+0.00%	8h
Extended	+0.00%	1h

Frequently asked

What is the NBIS funding rate right now?

NBIS perpetual funding ranges from 0.00% to 31.25% APR across 16 exchanges we track; the widest delta-neutral spread is long Variational / short Phoenix at 3.7% net APR.

Which exchange has the highest NBIS funding rate?

Nado currently has the highest at 31.25% APR. See the full ranking above.

What is funding rate arbitrage?

The strategy behind every number on this page

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Ranked by fee-adjusted net APR