Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0057%/8h= +6.2% APRpaid last 24h +0.014%

Price spread now: QFEX against SunX+0.180%7-day average +0.114% · 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−$70as in the Price arb table

costs, in and out, $10k−$760.763% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.021%+$2 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.180%, 7d avg +0.114%

Together, before fees+0.005%+$1 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 0.067% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.114%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NVDA-USDT	227.16	0	get 0.0000% / 8h	4h 42m	$2K	$3.7M	20x
Short	QFEX NVDA-USD	227.57	0.0057	get 0.0007% / 1h	42m 57s	$1.4M	$9.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against SunX. 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 SunXbpFee QFEXbpOrdersPrice spread, now +0.180%Rate

Funding earned: $11.98
Price spread: +0.180% → +0.114%: $6.69
Slippage, 4 orders: −$58.28
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$57.62
Costs to cover: 0.763%
Break-even: 40.7 days

Slippage from SunX: live order book, 5 min ago; QFEX: live order book, 6 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 SunX live order book, 5 min ago	21.98 bp	38.1 bp −$38	67.6 bp −$676	doesn't fit	doesn't fit
Sell QFEX live order book, 6 min ago	1.10 bp	6.1 bp −$6	6.1 bp −$61	11.2 bp −$1,115	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	227.58	+0.185%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.56	+0.176%	$14.4M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.51	+0.154%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.59	+0.189%	$15.5M	$16.4M	100x	as long as short
SunX NVDA-USDTlong	0.0000%	8h	227.16	long leg	$2K	$3.7M	20x
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.49	+0.145%	$49K	$1.6M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.64	+0.211%	$198K	$472K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.62	+0.203%	$2.2M	$43K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0018%	1h	227.42	+0.116%	$118K	$54K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.57	+0.180%	$406K	$744K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NVDAUSDT	+0.0043%	8h	227.59	+0.191%	$483K	$590K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.69	+0.233%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.43	+0.119%	$147.7M	$43.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.55	+0.172%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.43	+0.119%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.30	+0.062%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USDshort	+0.0057%	1h	227.57	+0.180%	$1.4M	$9.4M	10x
GRVT NVDA_USDT_Perp	+0.0068%	8h	227.61	+0.198%	$20K	$388K	10x	as long as short
Variational Omni NVDA	+0.0075%	8h	227.53	+0.164%	$3.5M	$2.1M	—	as long as short
Lighter NVDA	+0.0096%	1h	227.56	+0.176%	$2.2M	$3.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.46	+0.131%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.43	+0.119%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.56	+0.176%	$36K	$22K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0104%	1h	227.53	+0.163%	$1.3M	$775K	10x	as long as short
Nado NVDA-PERP	+0.0110%	1h	227.49	+0.145%	$484K	$228K	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	227.55	+0.171%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0128%	8h	227.58	+0.185%	$156.6M	$216.3M	50x	as long as short
Hotstuff NVDA-PERP	+0.0136%	1h	227.40	+0.106%	$35K	—	20x	as long as short
Phoenix NVDA	+0.0141%	1h	227.45	+0.128%	$94K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0150%	8h	227.60	+0.194%	$1.6M	$726K	20x	as long as short
Lighter RH NVDA	+0.0184%	1h	227.72	+0.247%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.03	+0.383%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0248%	8h	227.55	+0.172%	$723K	$201K	20x	as long as short
Extended NVDA_24_5-USD	+0.0472%	1h	227.43	+0.117%	$685K	$733K	10x	as long as short
edgeX NVDAUSDC	+0.0666%	4h	227.55	+0.170%	$170K	$1.9M	20x	as long as short