Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.026%

Price spread now: Bybit against Arcus+0.040%56s7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.322% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.233%+$23 · spread now +0.040%, 7d avg +0.087%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.047% cheaper against Arcus than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.087%). Swap the legs. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NVDA-USD	227.56	0.0040	pay 0.0005% / 1h	58m 50s	$399K	$741K	20x
Short	Bybit NVDAUSDT	227.65	0	get 0.0000% / 8h	3h 58m	$12.7M	$14.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$8.46
Price spread: +0.040% → +0.087%: −$4.72
Slippage, 4 orders: −$16.66
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$45.34
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Arcus: live order book, 60 min ago; Bybit: live order book, 5 min ago.

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 Arcus live order book, 60 min ago	1.32 bp	8.2 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.22 bp	6.1 bp −$6	8.4 bp −$84	64.0 bp −$6,398	doesn't fit

NVDA on 35 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
Bybit NVDAUSDTshort	0.0000%	8h	227.65	+0.040%	$12.7M	$14.8M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.66	+0.044%	$14.4M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.60	+0.018%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.67	+0.048%	$15.5M	$16.3M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.27	−0.127%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.71	+0.066%	$198K	$467K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.64	+0.035%	$2.2M	$43K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0002%	8h	227.59	+0.013%	$20K	$390K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.46	−0.044%	$118K	$54K	10x	as long as short
Aster NVDAUSDT	+0.0026%	8h	227.66	+0.043%	$483K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff NVDA-PERP	+0.0032%	1h	227.52	−0.018%	$35K	—	20x	as long as short
Arcus NVDA-USDlong	+0.0040%	1h	227.56	long leg	$399K	$741K	20x
Vest NVDA-USD-PERP	+0.0046%	1h	227.75	+0.083%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.52	−0.018%	$147.9M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.60	+0.018%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.54	−0.009%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.42	−0.062%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0057%	1h	227.61	+0.022%	$1.3M	$9.2M	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0058%	1h	227.58	+0.009%	$49K	$1.6M	10x	as long as short
Variational Omni NVDA	+0.0060%	8h	227.67	+0.046%	$3.5M	$2.1M	—	as long as short
Nado NVDA-PERP	+0.0062%	1h	227.54	−0.008%	$484K	$228K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.51	−0.022%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.49	−0.031%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.62	+0.026%	$36K	$21K	20x	as long as short
Binance NVDAUSDT	+0.0111%	8h	227.67	+0.047%	$156.1M	$215.9M	50x	as long as short
Lighter NVDA	+0.0112%	1h	227.61	+0.024%	$2.2M	$3.3M	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	227.64	+0.034%	—	—	10x	as long as short
KuCoin NVDAUSDTM	+0.0121%	8h	227.64	+0.035%	$1.6M	$724K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.53	−0.013%	$1.3M	$775K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.57	+0.004%	$94K	$112K	20x	as long as short
Lighter RH NVDA	+0.0176%	1h	227.77	+0.092%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.92	+0.158%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0231%	8h	227.61	+0.022%	$722K	$201K	20x	as long as short
Extended NVDA_24_5-USD	+0.0280%	1h	227.50	−0.026%	$669K	$768K	10x	as long as short
edgeX NVDAUSDC	+0.0633%	4h	227.64	+0.035%	$171K	$1.9M	20x	as long as short