Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h −0.041%

Price spread now: Bybit against Nado+0.082%7-day average +0.009% · 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−$28as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.082%, 7d avg +0.009%

Together, before fees−0.097%+ Points / potential airdropNado: Active · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.072% dearer against Nado than usual: you sell high and buy low (spread +0.082% now, against its 7-day average of +0.009%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 3 days (−0.029% in total) that is about 8.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NVDA-PERP	227.28	0.0102	pay 0.0013% / 1h	50m 03s	$483K	$228K	20x
Short	Bybit NVDAUSDT	227.47	0	get 0.0000% / 8h	50m 03s	$12.7M	$15.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.082%Rate

Funding earned: −$21.42
Price spread: +0.082% → +0.009%: $7.24
Slippage, 4 orders: −$17.17
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$49.35
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Nado: live order book, 28 min ago; Bybit: live order book, 3 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 Nado live order book, 28 min ago	1.32 bp	10.1 bp −$10	19.9 bp −$199	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.22 bp	6.5 bp −$6	10.2 bp −$102	55.0 bp −$5,499	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
Aster NVDAUSDT	0.0000%	8h	227.42	+0.060%	$482K	$587K	20x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	227.47	+0.082%	$12.7M	$15.4M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.43	+0.064%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.37	+0.038%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.46	+0.076%	$3.5M	$2.1M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.49	+0.091%	$20K	$426K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.93	−0.156%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	+0.086%	$198K	$525K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.51	+0.099%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0028%	1h	227.46	+0.079%	$118K	$55K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.24	−0.018%	$536K	$446K	10x	as long as short
Hotstuff NVDA-PERP	+0.0032%	1h	227.30	+0.007%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0038%	8h	227.47	+0.082%	$156.3M	$220.2M	50x	as long as short
Bitget NVDAUSDT	+0.0041%	8h	227.45	+0.073%	$15.6M	$17.7M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.49	+0.090%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.31	+0.011%	$147.3M	$48.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.34	+0.024%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.31	+0.011%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.26	−0.011%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.45	+0.073%	$1.6M	$11.4M	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.46	+0.077%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.121%	$1.3M	$862K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.30	+0.007%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.49	+0.090%	$1.6M	$746K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	+0.007%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.41	+0.055%	$36K	$22K	20x	as long as short
Nado NVDA-PERPlong	+0.0102%	1h	227.28	long leg	$483K	$228K	20x
Phoenix NVDA	+0.0106%	1h	227.34	+0.024%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.31	+0.011%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0148%	8h	227.50	+0.095%	$672K	$204K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.73	+0.196%	$73K	$135	30x	as long as short
Lighter RH NVDA	+0.0232%	1h	227.59	+0.134%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0240%	1h	227.48	+0.086%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0366%	1h	227.40	+0.051%	$49K	$1.4M	10x	as long as short
edgeX NVDAUSDC	+0.0697%	4h	227.47	+0.082%	$170K	$1.9M	20x	as long as short