Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.008%

Price spread now: Bybit against QFEX+0.097%7-day average +0.038% · 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−$23as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.014%−$1 on $10k

Price spread, last 7 days−0.061%−$6 · spread now +0.097%, 7d avg +0.038%

Together, before fees−0.075%−$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.059% dearer against QFEX than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.038%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.3 days. At the pace of the last 3 days (−0.014% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NVDA-USD	227.33	0.0060	pay 0.0008% / 1h	58m 49s	$1.6M	$11.5M	10x
Short	Bybit NVDAUSDT	227.55	0	get 0.0000% / 8h	7h 58m	$12.7M	$15.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$12.63
Price spread: +0.097% → +0.038%: $5.91
Slippage, 4 orders: −$7.42
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$35.15
Costs to cover: 0.284%
Break-even: never at this rate

Slippage from QFEX: live order book, 5 min ago; Bybit: live order book, 10 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 QFEX live order book, 5 min ago	2.64 bp	7.6 bp −$8	9.0 bp −$90	12.7 bp −$1,268	doesn't fit
Sell Bybit live order book, 10 min ago	0.22 bp	6.5 bp −$7	9.4 bp −$94	47.4 bp −$4,745	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	227.52	+0.083%	$483K	$586K	20x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	227.55	+0.097%	$12.7M	$15.4M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.55	+0.097%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.43	+0.044%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.45	+0.055%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.50	+0.075%	$21K	$406K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.13	−0.088%	$3K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	+0.066%	$197K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.58	+0.110%	$2.2M	$42K	10x	as long as short
Nado NVDA-PERP	+0.0008%	1h	227.32	−0.002%	$484K	$229K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0016%	1h	227.35	+0.011%	$118K	$56K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	227.32	−0.004%	$35K	—	20x	as long as short
Bitget NVDAUSDT	+0.0019%	8h	227.60	+0.119%	$15.5M	$17.2M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.29	−0.018%	$535K	$447K	10x	as long as short
Binance NVDAUSDT	+0.0035%	8h	227.54	+0.094%	$156.4M	$219.7M	50x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.51	+0.079%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.34	+0.004%	$147.9M	$48.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.39	+0.026%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.32	−0.004%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.21	−0.053%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USDlong	+0.0060%	1h	227.33	long leg	$1.6M	$11.5M	10x
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.01	−0.141%	$1.3M	$829K	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.45	+0.053%	—	—	10x	as long as short
Lighter NVDA	+0.0096%	1h	227.55	+0.099%	$2.2M	$3.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.30	−0.014%	$298K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.38	+0.022%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.49	+0.070%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.38	+0.022%	$93K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0112%	8h	227.53	+0.088%	$1.6M	$742K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.30	−0.013%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0139%	8h	227.49	+0.070%	$714K	$205K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0146%	1h	227.48	+0.066%	$49K	$1.4M	10x	as long as short
Lighter RH NVDA	+0.0184%	1h	227.68	+0.154%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.67	+0.150%	$73K	$134	30x	as long as short
edgeX NVDAUSDC	+0.0575%	4h	227.45	+0.051%	$171K	$1.9M	20x	as long as short