Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h −0.047%

Price spread now: Variational Omni against Injective−0.119%61s7-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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.119% cheaper against Injective than usual: you would sell low and buy high (−$12 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NVDA/USDC PERP	227.61	0.0220	pay 0.0028% / 1h	36m 16s	$73K	$136	30x
Short	Variational Omni NVDA	227.34	0	get 0.0000% / 8h	1h 36m	$3.5M	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.119%Rate

Funding earned: −$46.2
Price spread: −0.119% → 0.000%: −$11.91
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$58.13
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 3 min ago	2.79 bp	doesn't fit	3.5 bp −$35	doesn't fit	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	227.49	−0.055%	$474K	$574K	20x	as long as short
Binance NVDAUSDT	0.0000%	8h	227.48	−0.057%	$156.2M	$220.8M	50x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.45	−0.070%	$12.7M	$15.7M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.45	−0.070%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.40	−0.092%	$7.2M	$9.5M	100x	as long as short
Variational Omni NVDAshort	0.0000%	8h	227.34	−0.119%	$3.5M	$2.3M	—
GRVT NVDA_USDT_Perp	0.0000%	8h	227.35	−0.114%	$20K	$446K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.04	−0.250%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.41	−0.088%	$202K	$522K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.47	−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
Aftermath Perps NVDAUSD	+0.0011%	1h	227.17	−0.194%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0019%	8h	227.49	−0.053%	$15.6M	$18.0M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.25	−0.160%	$522K	$409K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.45	−0.070%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.50	−0.048%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.33	−0.123%	$147.3M	$49.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.38	−0.101%	$401K	$290K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.29	−0.141%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.27	−0.149%	$1.6M	$2.1M	15x	as long as short
Phoenix NVDA	+0.0070%	1h	227.25	−0.158%	$93K	$112K	20x	as long as short
Nado NVDA-PERP	+0.0072%	1h	227.32	−0.128%	$484K	$227K	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.45	−0.070%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.264%	$1.3M	$888K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.29	−0.142%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.36	−0.110%	$1.6M	$753K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.22	−0.171%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.43	−0.079%	$36K	$22K	20x	as long as short
Lighter RH NVDA	+0.0120%	1h	227.58	−0.013%	$4.9M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0120%	8h	227.49	−0.053%	$714K	$205K	20x	as long as short
Lighter NVDA	+0.0144%	1h	227.47	−0.062%	$2.1M	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0146%	1h	227.37	−0.105%	$49K	$1.5M	10x	as long as short
Hotstuff NVDA-PERP	+0.0152%	1h	227.33	−0.123%	$35K	—	20x	as long as short
Injective NVDA/USDC PERPlong	+0.0220%	1h	227.61	long leg	$73K	$136	30x
edgeX NVDAUSDC	+0.0268%	4h	227.36	−0.110%	$170K	$1.9M	20x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.35	−0.114%	$388K	$709K	20x	as long as short