Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.012%

Price spread now: QFEX against OKX−0.004%7-day average −0.044% · 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−$21as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on OKX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.014%−$1 on $10k

Price spread, last 7 days−0.045%−$4 · spread now −0.004%, 7d avg −0.044%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.039% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NVDA-USDT-SWAP	226.96	0	get 0.0000% / 8h	6h 59m	$14.2M	$20.3M	50x
Short	QFEX NVDA-USD	226.95	0.0072	get 0.0009% / 1h	59m 10s	$1.3M	$9.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.004%Rate

Funding earned: $15.1
Price spread: −0.004% → −0.044%: $3.94
Slippage, 4 orders: −$4.84
Fee OKX: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$5.79
Costs to cover: 0.248%
Break-even: 9.7 days

Slippage from OKX: live order book, 4 min ago; QFEX: live order book, 5 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, 4 min ago	0.22 bp	6.1 bp −$6	7.7 bp −$77	19.4 bp −$1,937	doesn't fit
Sell QFEX live order book, 5 min ago	1.10 bp	6.1 bp −$6	6.1 bp −$61	9.6 bp −$957	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	226.94	−0.009%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAPlong	0.0000%	8h	226.96	long leg	$14.2M	$20.3M	50x
Gate NVDA_USDT	0.0000%	8h	226.89	−0.031%	$7.2M	$9.3M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.98	+0.009%	$15.7M	$16.1M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.64	−0.141%	$2K	$3.5M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.00	+0.018%	$198K	$436K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.97	+0.004%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	226.88	−0.035%	$117K	$51K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	226.72	−0.104%	$641K	$885K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.06	+0.044%	—	$74K	25x	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	+0.0048%	1h	226.81	−0.066%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.79	−0.075%	$147.7M	$44.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.88	−0.035%	$392K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.81	−0.066%	$59K	$18K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.74	−0.097%	$1.6M	$1.9M	15x	as long as short
GRVT NVDA_USDT_Perp	+0.0053%	8h	226.94	−0.008%	$21K	$433K	10x	as long as short
QFEX NVDA-USDshort	+0.0072%	1h	226.95	−0.004%	$1.3M	$9.1M	10x
Aster NVDAUSDT	+0.0081%	8h	226.96	0.000%	$485K	$543K	20x	as long as short
Lighter NVDA	+0.0088%	1h	226.90	−0.026%	$2.1M	$3.1M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.75	−0.094%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.76	−0.088%	$16K	$45K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.91	−0.022%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0111%	8h	226.94	−0.007%	$3.3M	$2.5M	—	as long as short
KuCoin NVDAUSDTM	+0.0120%	8h	226.94	−0.009%	$1.6M	$1.1M	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.95	−0.005%	—	—	10x	as long as short
Lighter RH NVDA	+0.0128%	1h	227.06	+0.044%	$5.1M	$6.9M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.48	−0.211%	$1.3M	$681K	10x	as long as short
Nado NVDA-PERP	+0.0142%	1h	226.80	−0.071%	$482K	$221K	20x	as long as short
Binance NVDAUSDT	+0.0167%	8h	226.98	+0.009%	$155.6M	$223.2M	50x	as long as short
Phoenix NVDA	+0.0212%	1h	226.87	−0.040%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.48	+0.229%	$73K	$135	30x	as long as short
Arcus NVDA-USD	+0.0225%	1h	226.90	−0.026%	$392K	$739K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0235%	1h	226.86	−0.044%	$53K	$1.9M	10x	as long as short
BloFin NVDA-USDT	+0.0287%	8h	226.98	+0.009%	$715K	$202K	20x	as long as short
edgeX NVDAUSDC	+0.0732%	4h	226.98	+0.010%	$171K	$1.9M	20x	as long as short