Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.016%

Price spread now: Coinbase International against OKX−0.224%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 3 days (all we have)+0.114%+$11 · spread now −0.224%, 7d avg −0.062%

Together, before fees+0.147%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.162% cheaper against OKX than usual: you would sell low and buy high (spread −0.224% now, against its 7-day average of −0.062%). If the spread goes back, that is −$16 on $10k: about 5.6 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.033% in total) that is about 34 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NVDA-USDT-SWAP	227.52	0	get 0.0000% / 8h	42m 59s	$14.4M	$21.1M	50x
Short	Coinbase International NVDA-PERP-INTX	227.01	0.0096	get 0.0012% / 1h	42m 59s	$1.3M	$862K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.224%Rate

Funding earned: $20.16
Price spread: −0.224% → −0.062%: −$16.18
Slippage, 4 orders: −$7.89
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$23.91
Costs to cover: 0.279%
Break-even: 15.3 days

Slippage from OKX: live order book, 1 min ago; Coinbase International: live order book, 1 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 OKX live order book, 1 min ago	0.22 bp	5.4 bp −$5	7.3 bp −$73	15.9 bp −$1,591	doesn't fit
Sell Coinbase International live order book, 1 min ago	2.42 bp	8.2 bp −$8	10.6 bp −$106	doesn't fit	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	−0.044%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.58	+0.026%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAPlong	0.0000%	8h	227.52	long leg	$14.4M	$21.1M	50x
Gate NVDA_USDT	0.0000%	8h	227.48	−0.018%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.45	−0.032%	$3.6M	$2.1M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.52	0.000%	$20K	$427K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.03	−0.215%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	−0.018%	$198K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.62	+0.044%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0030%	1h	227.40	−0.054%	$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
Hotstuff NVDA-PERP	+0.0040%	1h	227.44	−0.035%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0044%	8h	227.57	+0.022%	$156.4M	$220.2M	50x	as long as short
Bitget NVDAUSDT	+0.0045%	8h	227.60	+0.035%	$15.6M	$17.7M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.61	+0.040%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.42	−0.044%	$147.5M	$48.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.46	−0.026%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.42	−0.044%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.30	−0.097%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.54	+0.009%	$1.6M	$11.4M	10x	as long as short
Extended NVDA_24_5-USD	+0.0064%	1h	227.38	−0.063%	$536K	$446K	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.56	+0.019%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0089%	1h	227.41	−0.048%	$484K	$228K	20x	as long as short
Coinbase International NVDA-PERP-INTXshort	+0.0096%	1h	227.01	−0.224%	$1.3M	$862K	10x
Pacifica NVDA	+0.0100%	1h	227.41	−0.048%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.51	−0.004%	$1.6M	$745K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.38	−0.062%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.55	+0.013%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.47	−0.022%	$94K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.40	−0.053%	$400K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0164%	8h	227.49	−0.013%	$713K	$204K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.72	+0.088%	$73K	$136	30x	as long as short
Lighter RH NVDA	+0.0240%	1h	227.70	+0.079%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0256%	1h	227.59	+0.032%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0366%	1h	227.54	+0.009%	$49K	$1.4M	10x	as long as short
edgeX NVDAUSDC	+0.0643%	4h	227.53	+0.003%	$170K	$1.9M	20x	as long as short