Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.013%

Price spread now: QFEX against Bybit−0.040%7-day average −0.037% · 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−$27as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Bybit Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.017%+$2 on $10k

Price spread, last 7 days−0.002%$0 · spread now −0.040%, 7d avg −0.037%

Together, before fees+0.015%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.037%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	226.70	0	get 0.0000% / 8h	2h 13m	$12.5M	$15.0M	100x
Short	QFEX NVDA-USD	226.61	0.0042	get 0.0005% / 1h	13m 44s	$1.3M	$9.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.040%Rate

Funding earned: $8.74
Price spread: −0.040% → −0.037%: −$0.29
Slippage, 4 orders: −$5.36
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$17.91
Costs to cover: 0.264%
Break-even: 21.4 days

Slippage from Bybit: live order book, 5 min ago; QFEX: 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 Bybit live order book, 5 min ago	0.22 bp	6.1 bp −$6	9.3 bp −$93	62.9 bp −$6,290	doesn't fit
Sell QFEX live order book, 5 min ago	1.76 bp	6.8 bp −$7	6.8 bp −$68	12.4 bp −$1,238	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
Aster NVDAUSDT	0.0000%	8h	226.64	−0.025%	$482K	$571K	20x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	226.70	long leg	$12.5M	$15.0M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.68	−0.009%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.67	−0.013%	$7.3M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.67	−0.013%	$15.3M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.68	−0.009%	$21K	$417K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.40	−0.132%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.47	−0.101%	$198K	$458K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.67	−0.013%	$2.2M	$42K	10x	as long as short
Variational Omni NVDA	+0.0006%	8h	226.54	−0.072%	$3.6M	$2.1M	—	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	+0.0012%	1h	226.44	−0.114%	$117K	$52K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.54	−0.071%	$398K	$734K	20x	as long as short
QFEX NVDA-USDshort	+0.0042%	1h	226.61	−0.040%	$1.3M	$9.1M	10x
Vest NVDA-USD-PERP	+0.0046%	1h	226.72	+0.009%	—	$74K	25x	as long as short
Hotstuff NVDA-PERP	+0.0048%	1h	226.44	−0.115%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.57	−0.057%	$147.2M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.59	−0.049%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.51	−0.084%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.38	−0.141%	$1.6M	$2.0M	15x	as long as short
Lighter NVDA	+0.0064%	1h	226.69	−0.004%	$2.1M	$3.4M	20x	as long as short
Binance NVDAUSDT	+0.0080%	8h	226.73	+0.015%	$154.5M	$218.7M	50x	as long as short
Nado NVDA-PERP	+0.0081%	1h	226.49	−0.093%	$482K	$227K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.46	−0.106%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.61	−0.040%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.47	−0.101%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.67	−0.013%	$36K	$21K	20x	as long as short
Lighter RH NVDA	+0.0104%	1h	226.83	+0.057%	$5.1M	$7.1M	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.68	−0.008%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.57	−0.057%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.29	−0.181%	$1.3M	$789K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0147%	1h	226.66	−0.018%	$53K	$1.8M	10x	as long as short
BloFin NVDA-USDT	+0.0201%	8h	226.56	−0.062%	$714K	$193K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.88	+0.079%	$73K	$139	30x	as long as short
Extended NVDA_24_5-USD	+0.0360%	1h	226.51	−0.084%	$668K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0960%	4h	226.61	−0.039%	$170K	$1.9M	20x	as long as short