Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h +0.046%

Price spread now: Deribit against Bybit−0.031%45s7-day average −0.024% · 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—prices read too far apart to compare

costs, in and out, $10k−$280.280% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.171%+$17 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.031%, 7d avg −0.024%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 45 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	Bybit NVDAUSDT	226.74	0	get 0.0000% / 8h	3h 00m	$12.5M	$14.9M	100x
Short	Deribit NVDA_USDC-PERPETUAL	226.67	0.0015	get 0.0002% / 1h	0m 28s	$50K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $3.1
Price spread: −0.031% → −0.024%: −$0.64
Slippage, 4 orders: −$9.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.52
Costs to cover: 0.280%
Break-even: 64.6 days

Slippage from Bybit: live order book, 3 min ago; Deribit: live order book, 4 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, 3 min ago	0.22 bp	6.4 bp −$6	8.9 bp −$89	59.9 bp −$5,986	doesn't fit
Sell Deribit live order book, 4 min ago	3.75 bp	7.6 bp −$8	8.5 bp −$85	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
Hotstuff NVDA-PERP	−0.0008%	1h	226.61	−0.057%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.78	+0.016%	$483K	$571K	20x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	226.74	long leg	$12.5M	$14.9M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.75	+0.004%	$14.3M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.71	−0.013%	$7.3M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.81	+0.031%	$15.3M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.80	+0.026%	$21K	$404K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.44	−0.132%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.87	+0.057%	$198K	$464K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.91	+0.075%	$2.2M	$43K	10x	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	+0.0011%	1h	226.63	−0.049%	$117K	$53K	10x	as long as short
Deribit NVDA_USDC-PERPETUALshort	+0.0015%	1h	226.67	−0.031%	$50K	$1.7M	10x
Variational Omni NVDA	+0.0016%	8h	226.75	+0.002%	$3.6M	$2.1M	—	as long as short
Lighter NVDA	+0.0032%	1h	226.73	−0.005%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.68	−0.026%	$398K	$733K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	226.73	−0.004%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.86	+0.053%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.63	−0.049%	$147.2M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.71	−0.013%	$400K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.60	−0.062%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.54	−0.088%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0061%	1h	226.65	−0.039%	$482K	$227K	20x	as long as short
Binance NVDAUSDT	+0.0085%	8h	226.80	+0.026%	$155.2M	$216.9M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.65	−0.038%	$297K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.77	+0.013%	$1.6M	$732K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.65	−0.040%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.72	−0.009%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.75	+0.004%	—	—	10x	as long as short
Lighter RH NVDA	+0.0128%	1h	226.89	+0.066%	$5.1M	$7.1M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.66	−0.035%	$1.3M	$781K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	226.57	−0.075%	$93K	$112K	20x	as long as short
BloFin NVDA-USDT	+0.0205%	8h	226.79	+0.022%	$717K	$190K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.12	+0.168%	$73K	$140	30x	as long as short
Extended NVDA_24_5-USD	+0.0224%	1h	226.57	−0.073%	$669K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0882%	4h	226.76	+0.009%	$170K	$1.9M	20x	as long as short