Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0090%/8h= +9.9% APRpaid last 24h +0.023%

Price spread now: Deribit against Orderly−0.031%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Deribit is 0.031% cheaper against Orderly than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 27 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NVDA_USDC	227.44	0.0100	pay 0.0100% / 8h	1h 29m	$36K	$22K	20x
Short	Deribit NVDA_USDC-PERPETUAL	227.37	0.0190	get 0.0024% / 1h	29m 33s	$49K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $18.9
Price spread: −0.031% → 0.000%: −$3.08
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $2.82
Costs to cover: 0.130%
Break-even: 6.0 days

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 4 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 4 min ago	0.22 bp	8.9 bp −$9	11.4 bp −$114	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hotstuff NVDA-PERP	−0.0040%	1h	227.30	−0.062%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	227.49	+0.022%	$474K	$578K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.48	+0.018%	$12.7M	$15.6M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.48	+0.018%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.41	−0.013%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.46	+0.007%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.46	+0.007%	$20K	$441K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.05	−0.171%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.41	−0.013%	$202K	$521K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.52	+0.035%	$2.2M	$41K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NVDAUSDT	+0.0008%	8h	227.54	+0.044%	$156.2M	$220.7M	50x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	227.39	−0.021%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0022%	8h	227.47	+0.013%	$15.6M	$17.8M	100x	as long as short
BloFin NVDA-USDT	+0.0022%	8h	227.50	+0.026%	$713K	$204K	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.29	−0.068%	$536K	$441K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.46	+0.009%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.52	+0.035%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.35	−0.040%	$147.3M	$49.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.38	−0.026%	$401K	$290K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.33	−0.048%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.30	−0.062%	$1.6M	$2.1M	15x	as long as short
Phoenix NVDA	+0.0070%	1h	227.34	−0.044%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.47	+0.013%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0086%	1h	227.33	−0.047%	$484K	$227K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.189%	$1.3M	$888K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.30	−0.062%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.47	+0.013%	$1.6M	$754K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.33	−0.048%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDClong	+0.0100%	8h	227.44	long leg	$36K	$22K	20x
Lighter RH NVDA	+0.0144%	1h	227.63	+0.084%	$4.9M	$7.0M	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.53	+0.040%	$2.1M	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUALshort	+0.0190%	1h	227.37	−0.031%	$49K	$1.5M	10x
Injective NVDA/USDC PERP	+0.0220%	1h	227.61	+0.075%	$73K	$136	30x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.35	−0.040%	$400K	$723K	20x	as long as short
edgeX NVDAUSDC	+0.0521%	4h	227.48	+0.016%	$170K	$1.9M	20x	as long as short