Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0352%/8h= −38.5% APRpaid last 24h −0.020%

Price spread now: Bybit against Extended+0.110%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$240.245% of the position

Long on Extended Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.110%, 7d avg +0.048%

Together, before fees−0.076%+ Points / potential airdropExtended: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.062% dearer against Extended than usual: you sell high and buy low (spread +0.110% now, against its 7-day average of +0.048%): +$6 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 7 days (−0.068% in total) that is about 6.4 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.068% in total (about -3.5% 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	Extended NVDA_24_5-USD	226.45	0.0352	pay 0.0044% / 1h	18m 31s	$668K	$766K	10x
Short	Bybit NVDAUSDT	226.70	0	get 0.0000% / 8h	2h 18m	$12.5M	$15.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Extended. 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 ExtendedbpFee BybitbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$73.92
Price spread: +0.110% → +0.048%: $6.23
Slippage, 4 orders: −$8.46
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$92.15
Costs to cover: 0.245%
Break-even: never at this rate

Slippage from Extended: live order book, 29 min ago; Bybit: 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 Extended live order book, 29 min ago	0.22 bp	7.3 bp −$7	85.2 bp −$852	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	0.22 bp	6.4 bp −$6	9.5 bp −$95	73.2 bp −$7,324	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	−0.0056%	1h	226.52	+0.031%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.68	+0.099%	$482K	$571K	20x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	226.70	+0.110%	$12.5M	$15.0M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.69	+0.106%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.66	+0.093%	$7.3M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.72	+0.119%	$15.3M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.43	−0.007%	$22K	$412K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.37	−0.035%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.47	+0.009%	$198K	$458K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.76	+0.137%	$2.2M	$42K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0006%	8h	226.43	−0.011%	$3.6M	$2.1M	—	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	226.29	−0.071%	$117K	$52K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.53	+0.035%	$398K	$728K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.64	+0.084%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.71	+0.115%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.53	+0.035%	$147.2M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.61	+0.071%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.49	+0.018%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.19	−0.115%	$1.6M	$2.0M	15x	as long as short
Lighter NVDA	+0.0056%	1h	226.66	+0.093%	$2.1M	$3.4M	20x	as long as short
Nado NVDA-PERP	+0.0080%	1h	226.52	+0.029%	$482K	$227K	20x	as long as short
Binance NVDAUSDT	+0.0082%	8h	226.71	+0.115%	$154.6M	$218.5M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.48	+0.015%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.56	+0.049%	$1.6M	$740K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.27	−0.079%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.64	+0.084%	$36K	$21K	20x	as long as short
Lighter RH NVDA	+0.0104%	1h	226.78	+0.146%	$5.1M	$7.1M	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.67	+0.099%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.31	−0.062%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.29	−0.071%	$1.3M	$789K	10x	as long as short
BloFin NVDA-USDT	+0.0201%	8h	226.70	+0.110%	$716K	$191K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.71	+0.115%	$73K	$138	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0236%	1h	226.62	+0.075%	$53K	$1.8M	10x	as long as short
Extended NVDA_24_5-USDlong	+0.0352%	1h	226.45	long leg	$668K	$766K	10x
edgeX NVDAUSDC	+0.0461%	4h	226.45	−0.001%	$170K	$1.9M	20x	as long as short