Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0041%/8h= −4.4% APRpaid last 24h −0.013%

Price spread now: SunX against QFEX−0.198%7-day average −0.109% · 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−$86as in the Price arb table

costs, in and out, $10k−$770.772% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 3 days (all we have)+0.058%+$6 · spread now −0.198%, 7d avg −0.109%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.089% cheaper against QFEX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.109%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NVDA-USD	227.40	0.0041	pay 0.0005% / 1h	16m 57s	$1.6M	$11.4M	10x
Short	SunX NVDA-USDT	226.95	0	get 0.0000% / 8h	1h 16m	$2K	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.198%Rate

Funding earned: −$8.52
Price spread: −0.198% → −0.109%: −$8.85
Slippage, 4 orders: −$59.18
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$94.55
Costs to cover: 0.772%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; SunX: live order book, 11 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, 7 min ago	1.54 bp	6.5 bp −$7	6.5 bp −$65	10.1 bp −$1,013	doesn't fit
Sell SunX live order book, 11 min ago	21.99 bp	26.0 bp −$26	55.7 bp −$557	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
Hotstuff NVDA-PERP	−0.0080%	1h	227.24	−0.070%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	227.45	+0.021%	$474K	$578K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.44	+0.018%	$12.7M	$15.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.40	0.000%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.37	−0.013%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.55	+0.064%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.54	+0.063%	$20K	$435K	10x	as long as short
SunX NVDA-USDTshort	0.0000%	8h	226.95	−0.198%	$2K	$4.0M	20x
HTX NVDA-USDT	0.0000%	8h	227.59	+0.084%	$198K	$528K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.56	+0.070%	$2.2M	$42K	10x	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	+0.0017%	1h	227.49	+0.038%	$118K	$55K	10x	as long as short
Binance NVDAUSDT	+0.0021%	8h	227.45	+0.022%	$156.3M	$220.7M	50x	as long as short
Bitget NVDAUSDT	+0.0028%	8h	227.47	+0.031%	$15.6M	$17.7M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.25	−0.064%	$536K	$446K	10x	as long as short
QFEX NVDA-USDlong	+0.0041%	1h	227.40	long leg	$1.6M	$11.4M	10x
Vest NVDA-USD-PERP	+0.0046%	1h	227.48	+0.035%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.26	−0.062%	$147.3M	$49.0M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.27	−0.057%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.26	−0.062%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.35	−0.022%	$1.6M	$2.1M	15x	as long as short
Phoenix NVDA	+0.0070%	1h	227.26	−0.062%	$93K	$112K	20x	as long as short
BloFin NVDA-USDT	+0.0082%	8h	227.48	+0.035%	$714K	$204K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.42	+0.007%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.172%	$1.3M	$880K	10x	as long as short
Nado NVDA-PERP	+0.0097%	1h	227.22	−0.079%	$483K	$227K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.27	−0.057%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.48	+0.035%	$1.6M	$751K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.38	−0.009%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.39	−0.004%	$36K	$22K	20x	as long as short
Lighter RH NVDA	+0.0168%	1h	227.57	+0.075%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0184%	1h	227.45	+0.022%	$2.1M	$3.3M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.80	+0.176%	$73K	$139	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0278%	1h	227.34	−0.026%	$49K	$1.4M	10x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.25	−0.066%	$400K	$723K	20x	as long as short
edgeX NVDAUSDC	+0.0913%	4h	227.54	+0.061%	$170K	$1.9M	20x	as long as short