Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0409%/8h= −44.8% APRpaid last 24h −0.042%

Price spread now: GRVT against Deribit+0.031%75s7-day average +0.029% · you sell dearer than you buy

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−$280.278% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.162%−$16 on $10k

Price spread, last 4 days (all we have)+0.154%+$15 · spread now +0.031%, 7d avg +0.029%

Together, before fees−0.008%+ Points / potential airdropGRVT: Active · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.162% in total (about -12.4% 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	Deribit NVDA_USDC-PERPETUAL	227.65	0.0409	pay 0.0051% / 1h	36m 02s	$49K	$1.6M	10x
Short	GRVT NVDA_USDT_Perp	227.72	0	get 0.0000% / 8h	5h 36m	$20K	$384K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT against Deribit. 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 DeribitbpFee GRVTbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$85.96
Price spread: +0.031% → +0.029%: $0.11
Slippage, 4 orders: −$11.83
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$113.68
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from Deribit: live order book, 3 min ago; GRVT: live order book, 27 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 Deribit live order book, 3 min ago	3.95 bp	7.9 bp −$8	8.9 bp −$89	doesn't fit	doesn't fit
Sell GRVT live order book, 27 min ago	1.76 bp	6.3 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
Bybit NVDAUSDT	0.0000%	8h	227.69	+0.018%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.65	0.000%	$14.4M	$20.2M	50x	as long as short
Hotstuff NVDA-PERP	0.0000%	1h	227.59	−0.026%	$35K	—	20x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.67	+0.009%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.76	+0.048%	$15.5M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perpshort	0.0000%	8h	227.72	+0.031%	$20K	$384K	10x
SunX NVDA-USDT	0.0000%	8h	227.25	−0.176%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.048%	$198K	$479K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.81	+0.070%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0007%	8h	227.73	+0.035%	$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	−0.051%	$118K	$54K	10x	as long as short
Variational Omni NVDA	+0.0034%	8h	227.71	+0.027%	$3.5M	$2.1M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.72	+0.031%	$406K	$710K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.72	+0.031%	$1.4M	$9.6M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.78	+0.057%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.54	−0.048%	$148.0M	$44.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.66	+0.004%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.57	−0.035%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.54	−0.048%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.083%	$1.3M	$776K	10x	as long as short
Binance NVDAUSDT	+0.0091%	8h	227.72	+0.031%	$156.3M	$215.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.54	−0.048%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.56	−0.040%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.66	+0.004%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.70	+0.024%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.63	−0.009%	$94K	$112K	20x	as long as short
Nado NVDA-PERP	+0.0118%	1h	227.57	−0.036%	$484K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0132%	8h	227.73	+0.035%	$1.6M	$723K	20x	as long as short
Lighter NVDA	+0.0176%	1h	227.68	+0.013%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0208%	1h	227.80	+0.066%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0210%	8h	227.78	+0.057%	$722K	$202K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.99	+0.149%	$73K	$137	30x	as long as short
Extended NVDA_24_5-USD	+0.0312%	1h	227.47	−0.079%	$689K	$716K	10x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0409%	1h	227.65	long leg	$49K	$1.6M	10x
edgeX NVDAUSDC	+0.0993%	4h	227.68	+0.015%	$170K	$1.9M	20x	as long as short