Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h −0.016%

Price spread now: QFEX against Binance+0.005%53s7-day average −0.021% · 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—prices read too far apart to compare

costs, in and out, $10k−$230.234% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.027%−$3 on $10k

Price spread, last 2 days (all we have)−0.079%−$8 · spread now +0.005%, 7d avg −0.021%

Together, before fees−0.105%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and QFEX is 0.027% dearer against Binance than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.021%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NVDAUSDT	227.50	0.0046	pay 0.0046% / 8h	38m 38s	$156.3M	$220.1M	50x
Short	QFEX NVDA-USD	227.51	0.0060	get 0.0008% / 1h	38m 38s	$1.6M	$11.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Binance. 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 BinancebpFee QFEXbpOrdersPrice spread, now +0.005%Rate

Funding earned: $2.95
Price spread: +0.005% → −0.021%: $2.66
Slippage, 4 orders: −$3.4
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$17.79
Costs to cover: 0.234%
Break-even: 49.2 days

Slippage from Binance: live order book, 5 min ago; QFEX: live order book, 5 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 Binance live order book, 5 min ago	0.22 bp	5.5 bp −$6	6.2 bp −$62	17.2 bp −$1,721	doesn't fit
Sell QFEX live order book, 5 min ago	1.32 bp	6.3 bp −$6	7.2 bp −$72	10.4 bp −$1,042	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	227.42	−0.034%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.48	−0.008%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.45	−0.021%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.39	−0.047%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.50	−0.001%	$3.6M	$2.1M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.53	+0.014%	$20K	$416K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.01	−0.214%	$3K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	−0.008%	$198K	$523K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.62	+0.054%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0030%	1h	227.45	−0.021%	$118K	$55K	10x	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	227.38	−0.052%	$35K	—	20x	as long as short
Bitget NVDAUSDT	+0.0044%	8h	227.48	−0.008%	$15.5M	$17.7M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.58	+0.036%	—	$74K	25x	as long as short
Binance NVDAUSDTlong	+0.0046%	8h	227.50	long leg	$156.3M	$220.1M	50x
Extended NVDA_24_5-USD	+0.0048%	1h	227.33	−0.075%	$536K	$446K	10x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.34	−0.069%	$147.4M	$48.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.38	−0.052%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.38	−0.052%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.32	−0.078%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USDshort	+0.0060%	1h	227.51	+0.005%	$1.6M	$11.4M	10x
Nado NVDA-PERP	+0.0081%	1h	227.36	−0.060%	$484K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0096%	1h	227.50	+0.003%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.214%	$1.3M	$861K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.32	−0.078%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.51	+0.005%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.38	−0.052%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.50	+0.001%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.38	−0.052%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.33	−0.074%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0166%	8h	227.49	−0.003%	$716K	$204K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.72	+0.098%	$73K	$136	30x	as long as short
Lighter RH NVDA	+0.0240%	1h	227.62	+0.054%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0248%	1h	227.51	+0.006%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0322%	1h	227.48	−0.008%	$49K	$1.4M	10x	as long as short
edgeX NVDAUSDC	+0.0349%	4h	227.49	−0.005%	$170K	$1.9M	20x	as long as short