Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0277%/8h= +30.3% APRpaid last 24h +0.033%

Price spread now: Deribit against OKX−0.044%56s7-day average −0.032% · 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—prices read too far apart to compare

costs, in and out, $10k−$250.254% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.100%+$10 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now −0.044%, 7d avg −0.032%

Together, before fees+0.094%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.100% in total (about 7.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NVDA-USDT-SWAP	227.93	0	get 0.0000% / 8h	6h 22m	$14.4M	$20.3M	50x
Short	Deribit NVDA_USDC-PERPETUAL	227.83	0.0277	get 0.0035% / 1h	22m 23s	$49K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.044%Rate

Funding earned: $58.17
Price spread: −0.044% → −0.032%: −$1.16
Slippage, 4 orders: −$8.39
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $31.62
Costs to cover: 0.254%
Break-even: 3.2 days

Slippage from OKX: live order book, 1 min ago; Deribit: live order book, 2 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	5.9 bp −$6	7.6 bp −$76	16.5 bp −$1,647	doesn't fit
Sell Deribit live order book, 2 min ago	3.29 bp	7.2 bp −$7	8.5 bp −$85	doesn't fit	doesn't fit

NVDA on 34 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
Hotstuff NVDA-PERP	−0.0056%	1h	227.72	−0.092%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.91	−0.009%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAPlong	0.0000%	8h	227.93	long leg	$14.4M	$20.3M	50x
Gate NVDA_USDT	0.0000%	8h	227.85	−0.035%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.97	+0.018%	$15.4M	$16.3M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.40	−0.233%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.96	+0.013%	$198K	$496K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.92	−0.004%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	0.0000%	8h	227.79	−0.061%	$484K	$581K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0011%	1h	227.73	−0.086%	$118K	$54K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0018%	8h	227.89	−0.019%	$3.5M	$2.0M	—	as long as short
GRVT NVDA_USDT_Perp	+0.0023%	8h	227.84	−0.040%	$20K	$386K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.71	−0.097%	$400K	$723K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.90	−0.013%	$1.4M	$10.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	228.00	+0.031%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.79	−0.061%	$148.2M	$44.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.87	−0.026%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.76	−0.075%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.73	−0.088%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.206%	$1.3M	$786K	10x	as long as short
Nado NVDA-PERP	+0.0083%	1h	227.76	−0.075%	$484K	$230K	20x	as long as short
Binance NVDAUSDT	+0.0085%	8h	227.94	+0.004%	$156.4M	$216.0M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.72	−0.092%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.67	−0.114%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.88	−0.022%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.88	−0.020%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.77	−0.070%	$94K	$112K	20x	as long as short
Lighter NVDA	+0.0128%	1h	227.90	−0.014%	$2.2M	$3.2M	20x	as long as short
KuCoin NVDAUSDTM	+0.0132%	8h	227.91	−0.009%	$1.6M	$737K	20x	as long as short
Extended NVDA_24_5-USD	+0.0136%	1h	227.68	−0.110%	$689K	$714K	10x	as long as short
Lighter RH NVDA	+0.0144%	1h	228.02	+0.039%	$5.1M	$7.0M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.09	+0.070%	$73K	$138	30x	as long as short
Deribit NVDA_USDC-PERPETUALshort	+0.0277%	1h	227.83	−0.044%	$49K	$1.5M	10x
edgeX NVDAUSDC	+0.0318%	4h	227.81	−0.052%	$170K	$1.9M	20x	as long as short