Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.036%

Price spread now: Coinbase International against Bybit+0.004%7-day average −0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 4 days (all we have)−0.106%−$11 · spread now +0.004%, 7d avg −0.059%

Together, before fees+0.050%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.064% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	226.28	0	get 0.0000% / 8h	1h 32m	$12.4M	$15.1M	100x
Short	Coinbase International NVDA-PERP-INTX	226.29	0.0112	get 0.0014% / 1h	32m 57s	$1.3M	$789K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.004%Rate

Funding earned: $23.52
Price spread: +0.004% → −0.059%: $6.38
Slippage, 4 orders: −$8.58
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $0.32
Costs to cover: 0.296%
Break-even: 6.9 days

Slippage from Bybit: live order book, 5 min ago; Coinbase International: live order book, 1 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 Bybit live order book, 5 min ago	0.22 bp	6.6 bp −$7	9.6 bp −$96	55.0 bp −$5,503	doesn't fit
Sell Coinbase International live order book, 1 min ago	1.99 bp	8.4 bp −$8	10.7 bp −$107	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 NVDAUSDTlong	0.0000%	8h	226.28	long leg	$12.4M	$15.1M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.25	−0.013%	$14.1M	$20.7M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.26	−0.009%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.32	+0.018%	$15.2M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.40	+0.053%	$22K	$422K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.96	−0.141%	$2K	$3.7M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.24	−0.018%	$53K	$1.8M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.46	+0.080%	$198K	$452K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.69	+0.181%	$2.2M	$42K	10x	as long as short
Aster NVDAUSDT	+0.0001%	8h	226.34	+0.026%	$482K	$571K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0017%	1h	226.19	−0.039%	$117K	$51K	10x	as long as short
Variational Omni NVDA	+0.0018%	8h	226.38	+0.042%	$3.5M	$2.2M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.26	−0.009%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.41	+0.057%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.17	−0.049%	$146.9M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.19	−0.040%	$393K	$283K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.17	−0.049%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.05	−0.102%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.30	+0.009%	$1.3M	$9.1M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	226.13	−0.066%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0087%	8h	226.27	−0.004%	$154.3M	$219.6M	50x	as long as short
Lighter NVDA	+0.0088%	1h	226.29	+0.003%	$2.1M	$3.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.19	−0.039%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.34	+0.027%	$1.6M	$750K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.25	−0.013%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.27	−0.004%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.28	+0.001%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.26	−0.009%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTXshort	+0.0112%	1h	226.29	+0.004%	$1.3M	$789K	10x
Lighter RH NVDA	+0.0128%	1h	226.43	+0.066%	$5.0M	$6.9M	20x	as long as short
Nado NVDA-PERP	+0.0136%	1h	226.20	−0.033%	$480K	$226K	20x	as long as short
BloFin NVDA-USDT	+0.0207%	8h	226.43	+0.066%	$714K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.01	+0.323%	$73K	$137	30x	as long as short
Extended NVDA_24_5-USD	+0.0456%	1h	226.15	−0.057%	$667K	$762K	10x	as long as short
edgeX NVDAUSDC	+0.0491%	4h	226.35	+0.029%	$170K	$1.9M	20x	as long as short