Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.058%

Price spread now: Bybit against Injective−0.066%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.322%−$32 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.066% cheaper against Injective than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NVDA/USDC PERP	227.30	0.0220	pay 0.0028% / 1h	30m 37s	$73K	$135	30x
Short	Bybit NVDAUSDT	227.15	0	get 0.0000% / 8h	2h 30m	$12.7M	$15.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$46.2
Price spread: −0.066% → 0.000%: −$6.6
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$63.82
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 3 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.22 bp	6.6 bp −$7	10.5 bp −$105	43.2 bp −$4,321	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	227.06	−0.104%	$473K	$550K	20x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	227.15	−0.066%	$12.7M	$15.8M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.12	−0.079%	$14.3M	$21.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.13	−0.075%	$7.2M	$9.4M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.07	−0.102%	$3.4M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.08	−0.096%	$21K	$470K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.78	−0.229%	$2K	$4.0M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.06	−0.106%	$49K	$1.5M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.23	−0.031%	$202K	$529K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.16	−0.062%	$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
Binance NVDAUSDT	+0.0005%	8h	227.17	−0.057%	$156.2M	$220.3M	50x	as long as short
Aftermath Perps NVDAUSD	+0.0014%	1h	226.99	−0.138%	$118K	$54K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	227.07	−0.101%	$35K	—	20x	as long as short
BloFin NVDA-USDT	+0.0018%	8h	227.11	−0.084%	$714K	$205K	20x	as long as short
QFEX NVDA-USD	+0.0030%	1h	227.13	−0.075%	$1.6M	$11.3M	10x	as long as short
Lighter RH NVDA	+0.0032%	1h	227.25	−0.022%	$4.8M	$7.0M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.00	−0.133%	$523K	$406K	10x	as long as short
Nado NVDA-PERP	+0.0043%	1h	227.00	−0.134%	$487K	$223K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.25	−0.022%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.06	−0.106%	$147.1M	$50.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.07	−0.101%	$390K	$235K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.01	−0.128%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.92	−0.167%	$1.6M	$2.1M	15x	as long as short
edgeX NVDAUSDC	+0.0059%	4h	227.11	−0.085%	$170K	$1.9M	20x	as long as short
Bitget NVDAUSDT	+0.0069%	8h	227.23	−0.031%	$15.6M	$18.3M	100x	as long as short
Phoenix NVDA	+0.0070%	1h	227.08	−0.097%	$93K	$112K	20x	as long as short
Lighter NVDA	+0.0080%	1h	227.17	−0.058%	$2.1M	$3.3M	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.13	−0.073%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.05	−0.108%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.11	−0.084%	$1.6M	$751K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.96	−0.150%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.08	−0.097%	$36K	$22K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	227.01	−0.128%	$1.3M	$911K	10x	as long as short
Injective NVDA/USDC PERPlong	+0.0220%	1h	227.30	long leg	$73K	$135	30x
Arcus NVDA-USD	+0.0419%	1h	227.15	−0.066%	$395K	$683K	20x	as long as short