Funding arb · Price arb /

NVDA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h −0.002%

Price spread now: Extended against Variational Omni−0.073%7-day average −0.042% · you buy dearer than you sell

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

Long on Variational Omni Short on Extended

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.073%, 7d avg −0.042%

Together, before fees+0.105%+ Points / potential airdropVariational Omni: Active · Extended: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.030% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of −0.042%). If the spread goes back, that is −$3 on $10k: about 11 hours of funding at the current rate (+$7 a day). At the pace of the last 4 days (+0.012% in total) that is about 8.7 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.012% in total (about 1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NVDA	227.67	0.0060	pay 0.0060% / 8h	3h 58m	$3.5M	$2.1M	—
Short	Extended NVDA_24_5-USD	227.50	0.0280	get 0.0035% / 1h	58m 48s	$669K	$768K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Variational Omni. 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 Variational OmnibpFee ExtendedbpOrdersPrice spread, now −0.073%Rate

Funding earned: $46.28
Price spread: −0.073% → −0.042%: −$3.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $38.23
Costs to cover: 0.050%
Break-even: 1.2 days

Slippage unknown: Variational Omni: RFQ quote, just now; Extended: live order book, 59 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 Variational Omni RFQ quote, just now	2.79 bp	doesn't fit	6.7 bp −$67	doesn't fit	doesn't fit
Sell Extended live order book, 59 min ago	0.22 bp	4.1 bp −$4	27.7 bp −$277	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
Bybit NVDAUSDT	0.0000%	8h	227.65	−0.007%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.66	−0.002%	$14.4M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.60	−0.029%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.67	+0.002%	$15.5M	$16.3M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.27	−0.174%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.71	+0.020%	$198K	$467K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.64	−0.011%	$2.2M	$43K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0002%	8h	227.59	−0.033%	$20K	$390K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.46	−0.090%	$118K	$54K	10x	as long as short
Aster NVDAUSDT	+0.0026%	8h	227.66	−0.003%	$483K	$590K	20x	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	+0.0032%	1h	227.52	−0.064%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.56	−0.046%	$399K	$741K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.75	+0.037%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.52	−0.064%	$147.9M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.60	−0.029%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.54	−0.055%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.42	−0.108%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0057%	1h	227.61	−0.024%	$1.3M	$9.2M	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0058%	1h	227.58	−0.037%	$49K	$1.6M	10x	as long as short
Variational Omni NVDAlong	+0.0060%	8h	227.67	long leg	$3.5M	$2.1M	—
Nado NVDA-PERP	+0.0062%	1h	227.54	−0.054%	$484K	$228K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.51	−0.068%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.49	−0.077%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.62	−0.020%	$36K	$21K	20x	as long as short
Binance NVDAUSDT	+0.0111%	8h	227.67	+0.001%	$156.1M	$215.9M	50x	as long as short
Lighter NVDA	+0.0112%	1h	227.61	−0.022%	$2.2M	$3.3M	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	227.64	−0.012%	—	—	10x	as long as short
KuCoin NVDAUSDTM	+0.0121%	8h	227.64	−0.011%	$1.6M	$724K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.53	−0.059%	$1.3M	$775K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.57	−0.042%	$94K	$112K	20x	as long as short
Lighter RH NVDA	+0.0176%	1h	227.77	+0.046%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.92	+0.112%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0231%	8h	227.61	−0.024%	$722K	$201K	20x	as long as short
Extended NVDA_24_5-USDshort	+0.0280%	1h	227.50	−0.073%	$669K	$768K	10x
edgeX NVDAUSDC	+0.0633%	4h	227.64	−0.011%	$171K	$1.9M	20x	as long as short