Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.035%

Price spread now: Bybit against Coinbase International+0.198%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$300.299% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.139%−$14 on $10k

Price spread, last 3 days (all we have)−0.086%−$9 · spread now +0.198%, 7d avg +0.052%

Together, before fees−0.225%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.146% dearer against Coinbase International than usual: you sell high and buy low (spread +0.198% now, against its 7-day average of +0.052%): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 5.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NVDA-PERP-INTX	227.01	0.0096	pay 0.0012% / 1h	36m 36s	$1.3M	$888K	10x
Short	Bybit NVDAUSDT	227.46	0	get 0.0000% / 8h	1h 36m	$12.7M	$15.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Coinbase International. 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 Coinbase InternationalbpFee BybitbpOrdersPrice spread, now +0.198%Rate

Funding earned: −$20.16
Price spread: +0.198% → +0.052%: $14.62
Slippage, 4 orders: −$8.87
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$35.41
Costs to cover: 0.299%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Bybit: live order book, 2 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 Coinbase International live order book, 2 min ago	2.20 bp	8.5 bp −$9	10.2 bp −$102	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.22 bp	6.5 bp −$7	9.3 bp −$93	28.7 bp −$2,868	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	227.48	+0.209%	$474K	$574K	20x	as long as short
Binance NVDAUSDT	0.0000%	8h	227.49	+0.211%	$156.2M	$220.8M	50x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	227.46	+0.198%	$12.7M	$15.7M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.44	+0.189%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.40	+0.172%	$7.2M	$9.5M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.34	+0.145%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.35	+0.150%	$20K	$446K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.01	0.000%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.41	+0.176%	$202K	$523K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.43	+0.185%	$2.2M	$41K	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	227.15	+0.061%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0019%	8h	227.48	+0.207%	$15.6M	$18.0M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.26	+0.112%	$522K	$409K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.45	+0.194%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.53	+0.229%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.30	+0.128%	$147.3M	$49.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.32	+0.137%	$401K	$290K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.25	+0.106%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.27	+0.115%	$1.6M	$2.1M	15x	as long as short
Nado NVDA-PERP	+0.0070%	1h	227.34	+0.144%	$484K	$227K	20x	as long as short
Phoenix NVDA	+0.0070%	1h	227.25	+0.106%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.47	+0.201%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTXlong	+0.0096%	1h	227.01	long leg	$1.3M	$888K	10x
Pacifica NVDA	+0.0100%	1h	227.29	+0.122%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.36	+0.154%	$1.6M	$753K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.22	+0.093%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.43	+0.185%	$36K	$22K	20x	as long as short
Lighter RH NVDA	+0.0120%	1h	227.59	+0.255%	$4.9M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0120%	8h	227.49	+0.211%	$714K	$205K	20x	as long as short
Lighter NVDA	+0.0144%	1h	227.48	+0.208%	$2.1M	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0146%	1h	227.38	+0.163%	$49K	$1.5M	10x	as long as short
Hotstuff NVDA-PERP	+0.0152%	1h	227.33	+0.141%	$35K	—	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.61	+0.264%	$73K	$136	30x	as long as short
edgeX NVDAUSDC	+0.0268%	4h	227.36	+0.154%	$170K	$1.9M	20x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.35	+0.150%	$388K	$709K	20x	as long as short