Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.029%

Price spread now: QFEX against KuCoin−0.018%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$730.726% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.125%−$12 on $10k

Price spread, last 7 days−0.026%−$3 · spread now −0.018%, 7d avg −0.045%

Together, before fees−0.150%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.027% dearer against KuCoin than usual: you sell high and buy low (spread −0.018% now, against its 7-day average of −0.045%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.1 days. At the pace of the last 4 days (−0.125% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NVDAUSDTM	226.43	0.0100	pay 0.0100% / 8h	1h 47m	$1.6M	$748K	20x
Short	QFEX NVDA-USD	226.39	0.0056	get 0.0007% / 1h	47m 35s	$1.3M	$9.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against KuCoin. 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 KuCoinbpFee QFEXbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$9.17
Price spread: −0.018% → −0.045%: $2.69
Slippage, 4 orders: −$50.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$79.07
Costs to cover: 0.726%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; QFEX: live order book, 6 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 KuCoin live order book, 8 min ago	2.65 bp	37.3 bp −$37	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.10 bp	6.1 bp −$6	6.1 bp −$61	11.2 bp −$1,119	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	226.39	−0.018%	$12.4M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.37	−0.026%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.33	−0.044%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.39	−0.018%	$15.2M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.48	+0.024%	$22K	$422K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.13	−0.132%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.58	+0.066%	$198K	$454K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.64	+0.093%	$2.2M	$42K	10x	as long as short
Aster NVDAUSDT	+0.0002%	8h	226.42	−0.004%	$482K	$571K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0014%	1h	226.39	−0.016%	$117K	$52K	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	+0.0014%	8h	226.44	+0.003%	$3.6M	$2.1M	—	as long as short
edgeX NVDAUSDC	+0.0023%	4h	226.50	+0.032%	$170K	$1.9M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.42	−0.004%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.50	+0.031%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.25	−0.079%	$147.0M	$43.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.36	−0.031%	$398K	$279K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.27	−0.071%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.27	−0.071%	$1.6M	$2.0M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	226.28	−0.066%	$35K	—	20x	as long as short
QFEX NVDA-USDshort	+0.0056%	1h	226.39	−0.018%	$1.3M	$9.1M	10x
Binance NVDAUSDT	+0.0088%	8h	226.39	−0.018%	$154.3M	$219.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.24	−0.084%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTMlong	+0.0100%	8h	226.43	long leg	$1.6M	$748K	20x
ApeX Omni NVDAUSDT	+0.0100%	1h	226.30	−0.057%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.40	−0.013%	$36K	$21K	20x	as long as short
Lighter NVDA	+0.0104%	1h	226.36	−0.033%	$2.1M	$3.3M	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.42	−0.003%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.34	−0.040%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.062%	$1.3M	$789K	10x	as long as short
Nado NVDA-PERP	+0.0154%	1h	226.31	−0.053%	$481K	$226K	20x	as long as short
Lighter RH NVDA	+0.0168%	1h	226.49	+0.026%	$5.0M	$6.9M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0192%	1h	226.35	−0.035%	$52K	$1.8M	10x	as long as short
BloFin NVDA-USDT	+0.0207%	8h	226.54	+0.049%	$717K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.74	+0.137%	$73K	$136	30x	as long as short
Extended NVDA_24_5-USD	+0.0440%	1h	226.16	−0.121%	$667K	$762K	10x	as long as short