Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h −0.041%

Price spread now: GRVT against Coinbase International+0.216%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 3 days (all we have)−0.099%−$10 · spread now +0.216%, 7d avg +0.067%

Together, before fees−0.280%+ Points / potential airdropGRVT: Active · farm board−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.149% dearer against Coinbase International than usual: you sell high and buy low (spread +0.216% now, against its 7-day average of +0.067%): +$15 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International NVDA-PERP-INTX	227.01	0.0080	pay 0.0010% / 1h	57m 23s	$1.3M	$828K	10x
Short	GRVT NVDA_USDT_Perp	227.50	0	get 0.0000% / 8h	7h 57m	$21K	$406K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.216%Rate

Funding earned: −$16.8
Price spread: +0.216% → +0.067%: $14.89
Slippage, 4 orders: −$10.33
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$31.23
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; GRVT: live order book, 15 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, 1 min ago	3.08 bp	9.1 bp −$9	11.2 bp −$112	doesn't fit	doesn't fit
Sell GRVT live order book, 15 min ago	1.54 bp	6.1 bp −$6	10.8 bp −$108	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
Aster NVDAUSDT	0.0000%	8h	227.55	+0.238%	$483K	$586K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.66	+0.286%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.66	+0.286%	$14.4M	$20.9M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.60	+0.260%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.45	+0.196%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perpshort	0.0000%	8h	227.50	+0.216%	$21K	$406K	10x
SunX NVDA-USDT	0.0000%	8h	227.14	+0.057%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	+0.207%	$197K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.55	+0.238%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0015%	1h	227.35	+0.151%	$118K	$56K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NVDAUSDT	+0.0021%	8h	227.69	+0.300%	$15.5M	$17.2M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.29	+0.123%	$535K	$447K	10x	as long as short
Binance NVDAUSDT	+0.0035%	8h	227.68	+0.293%	$156.4M	$219.3M	50x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.39	+0.167%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.58	+0.251%	$1.6M	$11.5M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.73	+0.317%	—	$74K	25x	as long as short
Nado NVDA-PERP	+0.0048%	1h	227.45	+0.196%	$483K	$229K	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.45	+0.194%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.38	+0.163%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.32	+0.137%	$1.6M	$2.0M	15x	as long as short
Lighter NVDA	+0.0072%	1h	227.60	+0.258%	$2.2M	$3.2M	20x	as long as short
Coinbase International NVDA-PERP-INTXlong	+0.0080%	1h	227.01	long leg	$1.3M	$828K	10x
Aevo NVDA-PERP	+0.0088%	1h	227.54	+0.232%	—	—	10x	as long as short
Hotstuff NVDA-PERP	+0.0096%	1h	227.38	+0.163%	$35K	—	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.41	+0.176%	$298K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.38	+0.163%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.62	+0.269%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.38	+0.163%	$93K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0115%	8h	227.57	+0.247%	$1.6M	$742K	20x	as long as short
tradeXYZ xyz:NVDA	+0.0124%	1h	227.39	+0.167%	$147.9M	$48.9M	20x	as long as short
BloFin NVDA-USDT	+0.0139%	8h	227.49	+0.211%	$714K	$205K	20x	as long as short
Lighter RH NVDA	+0.0176%	1h	227.75	+0.326%	$5.1M	$7.1M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0190%	1h	227.53	+0.229%	$49K	$1.4M	10x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.89	+0.388%	$73K	$135	30x	as long as short
edgeX NVDAUSDC	+0.0402%	4h	227.44	+0.187%	$171K	$1.9M	20x	as long as short