Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.025%

Price spread now: Arcus against BloFin−0.035%7-day average −0.092% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on BloFin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.015%+$1 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.035%, 7d avg −0.092%

Together, before fees+0.055%+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.057% dearer against BloFin than usual: you sell high and buy low (spread −0.035% now, against its 7-day average of −0.092%): +$6 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 23 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.015% in total (about 1.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin NVDA-USDT	226.39	0.0241	pay 0.0241% / 8h	38m 30s	$710K	$195K	20x
Short	Arcus NVDA-USD	226.31	0.0040	get 0.0005% / 1h	38m 30s	$392K	$740K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against BloFin. 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 BloFinbpFee ArcusbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$42.19
Price spread: −0.035% → −0.092%: $5.65
Slippage, 4 orders: −$16.67
Fee BloFin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$69.71
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from BloFin: live order book, 43 min ago; Arcus: live order book, 65 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 BloFin live order book, 43 min ago	0.66 bp	6.7 bp −$7	7.5 bp −$75	15.2 bp −$1,519	doesn't fit
Sell Arcus live order book, 65 min ago	1.10 bp	10.9 bp −$11	15.4 bp −$154	doesn't fit	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 NVDAUSDT	0.0000%	8h	226.40	+0.004%	$12.4M	$14.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.39	0.000%	$14.1M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.34	−0.022%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.47	+0.035%	$15.8M	$16.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.98	−0.181%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.39	0.000%	$198K	$445K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.61	+0.097%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0018%	1h	226.16	−0.100%	$117K	$51K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0020%	8h	226.43	+0.016%	$22K	$428K	10x	as long as short
Aster NVDAUSDT	+0.0036%	8h	226.37	−0.009%	$482K	$530K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NVDA-USDshort	+0.0040%	1h	226.31	−0.035%	$392K	$740K	20x
Vest NVDA-USD-PERP	+0.0046%	1h	226.45	+0.027%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.22	−0.075%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.24	−0.066%	$1.6M	$1.9M	15x	as long as short
Variational Omni NVDA	+0.0057%	8h	226.39	0.000%	$3.5M	$2.3M	—	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.39	0.000%	$1.3M	$9.0M	10x	as long as short
tradeXYZ xyz:NVDA	+0.0097%	1h	226.29	−0.044%	$147.0M	$43.0M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0099%	1h	226.36	−0.013%	$391K	$247K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	226.25	−0.062%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.38	−0.004%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.19	−0.088%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.32	−0.031%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	226.34	−0.021%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.133%	$1.3M	$699K	10x	as long as short
Binance NVDAUSDT	+0.0121%	8h	226.41	+0.009%	$154.4M	$218.4M	50x	as long as short
Phoenix NVDA	+0.0177%	1h	226.33	−0.027%	$93K	$83K	20x	as long as short
Nado NVDA-PERP	+0.0180%	1h	226.25	−0.062%	$481K	$223K	20x	as long as short
Lighter NVDA	+0.0184%	1h	226.38	−0.004%	$2.1M	$3.2M	20x	as long as short
Hotstuff NVDA-PERP	+0.0200%	1h	226.30	−0.040%	$35K	—	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.00	+0.269%	$73K	$137	30x	as long as short
Lighter RH NVDA	+0.0240%	1h	226.54	+0.066%	$5.1M	$6.9M	20x	as long as short
BloFin NVDA-USDTlong	+0.0241%	8h	226.39	long leg	$710K	$195K	20x
Deribit NVDA_USDC-PERPETUAL	+0.0325%	1h	226.25	−0.062%	$53K	$1.8M	10x	as long as short
Extended NVDA_24_5-USD	+0.0352%	1h	226.16	−0.099%	$644K	$875K	10x	as long as short
edgeX NVDAUSDC	+0.0879%	4h	226.41	+0.008%	$170K	$1.9M	20x	as long as short