Eb/N0 is the ratio of energy per bit to noise density.
Eb/N0 is described below:
\[\frac{E_b}{N_0} = \frac{C}{N_0}\frac{1}{B}\]
where \(C/N_0\) is the carrier-to-noise ratio, \(B\) is the bit rate.
Thus, Eb/N0 can be considered as the carrier-to-noise ratio divided by the bit rate.
C/N0 Explained