Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0288%/8h= +31.5% APRpaid last 24h +0.010%

Price spread now: Extended against Bybit−0.094%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

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

costs, in and out, $10k−$230.228% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.057%+$6 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now −0.094%, 7d avg −0.047%

Together, before fees+0.023%+ Points / potential airdropExtended: Active · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.048% cheaper against Bybit than usual: you would sell low and buy high (spread −0.094% now, against its 7-day average of −0.047%). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.057% in total) that is about 5.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.057% in total (about 3.0% 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	Bybit NVDAUSDT	227.72	0	get 0.0000% / 8h	5h 37m	$12.7M	$14.8M	100x
Short	Extended NVDA_24_5-USD	227.50	0.0288	get 0.0036% / 1h	37m 42s	$689K	$714K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.094%Rate

Funding earned: $60.48
Price spread: −0.094% → −0.047%: −$4.77
Slippage, 4 orders: −$6.8
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $32.91
Costs to cover: 0.228%
Break-even: 3.2 days

Slippage from Bybit: live order book, 1 min ago; Extended: live order book, 25 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, 1 min ago	0.22 bp	6.5 bp −$7	10.2 bp −$102	54.4 bp −$5,439	doesn't fit
Sell Extended live order book, 25 min ago	0.44 bp	4.1 bp −$4	28.3 bp −$283	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	−0.0024%	1h	227.57	−0.066%	$35K	—	20x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	227.72	long leg	$12.7M	$14.8M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.73	+0.004%	$14.4M	$20.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.67	−0.022%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.77	+0.022%	$15.5M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.71	−0.003%	$20K	$384K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.29	−0.189%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.018%	$198K	$479K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.77	+0.022%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0005%	8h	227.76	+0.018%	$484K	$590K	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	+0.0011%	1h	227.53	−0.083%	$118K	$54K	10x	as long as short
Variational Omni NVDA	+0.0027%	8h	227.69	−0.013%	$3.5M	$2.0M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.72	0.000%	$406K	$711K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.71	−0.004%	$1.4M	$9.7M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.79	+0.031%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.57	−0.066%	$148.1M	$44.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.67	−0.022%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.58	−0.061%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.52	−0.088%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.114%	$1.3M	$776K	10x	as long as short
Binance NVDAUSDT	+0.0090%	8h	227.77	+0.023%	$156.3M	$215.1M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.54	−0.079%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.54	−0.079%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.68	−0.018%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.72	+0.002%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.61	−0.048%	$94K	$112K	20x	as long as short
Nado NVDA-PERP	+0.0114%	1h	227.57	−0.065%	$484K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0131%	8h	227.74	+0.009%	$1.6M	$723K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.70	−0.007%	$2.2M	$3.2M	20x	as long as short
BloFin NVDA-USDT	+0.0208%	8h	227.72	0.000%	$723K	$202K	20x	as long as short
Lighter RH NVDA	+0.0208%	1h	227.84	+0.053%	$5.1M	$7.0M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.96	+0.105%	$73K	$136	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0277%	1h	227.66	−0.026%	$49K	$1.6M	10x	as long as short
Extended NVDA_24_5-USDshort	+0.0288%	1h	227.50	−0.094%	$689K	$714K	10x
edgeX NVDAUSDC	+0.0993%	4h	227.68	−0.016%	$170K	$1.9M	20x	as long as short