Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0322%/8h= +35.2% APRpaid last 24h +0.043%

Price spread now: Deribit against Bybit−0.031%7-day average −0.024% · 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−$28as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.164%+$16 on $10k

Price spread, last 4 days (all we have)−0.181%−$18 · spread now −0.031%, 7d avg −0.024%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.024%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	227.56	0	get 0.0000% / 8h	5h 26m	$12.7M	$14.8M	100x
Short	Deribit NVDA_USDC-PERPETUAL	227.49	0.0322	get 0.0040% / 1h	26m 40s	$49K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $67.57
Price spread: −0.031% → −0.024%: −$0.65
Slippage, 4 orders: −$9.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $39.22
Costs to cover: 0.277%
Break-even: 2.9 days

Slippage from Bybit: live order book, 2 min ago; Deribit: live order book, 2 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 Bybit live order book, 2 min ago	0.22 bp	6.1 bp −$6	9.3 bp −$93	51.1 bp −$5,112	doesn't fit
Sell Deribit live order book, 2 min ago	3.74 bp	7.7 bp −$8	8.2 bp −$82	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 NVDAUSDTlong	0.0000%	8h	227.56	long leg	$12.7M	$14.8M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.53	−0.013%	$14.4M	$20.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.48	−0.035%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.62	+0.026%	$15.5M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.63	+0.029%	$20K	$384K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.05	−0.224%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.088%	$198K	$478K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.64	+0.035%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0012%	8h	227.58	+0.009%	$483K	$590K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.52	−0.019%	$118K	$54K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0036%	8h	227.62	+0.026%	$3.5M	$2.1M	—	as long as short
Hotstuff NVDA-PERP	+0.0040%	1h	227.40	−0.070%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.59	+0.013%	$406K	$745K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.56	0.000%	$1.4M	$9.6M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.64	+0.035%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.39	−0.075%	$147.9M	$44.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.52	−0.018%	$401K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.40	−0.070%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.43	−0.057%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.53	−0.013%	$1.3M	$777K	10x	as long as short
Binance NVDAUSDT	+0.0098%	8h	227.57	+0.004%	$156.2M	$215.1M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.40	−0.072%	$298K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.50	−0.026%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.54	−0.009%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.56	+0.001%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.50	−0.026%	$94K	$112K	20x	as long as short
Nado NVDA-PERP	+0.0125%	1h	227.40	−0.069%	$483K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0136%	8h	227.61	+0.022%	$1.6M	$724K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.54	−0.009%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0216%	1h	227.67	+0.048%	$5.1M	$7.1M	20x	as long as short
BloFin NVDA-USDT	+0.0217%	8h	227.62	+0.026%	$723K	$201K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.99	+0.189%	$73K	$137	30x	as long as short
Deribit NVDA_USDC-PERPETUALshort	+0.0322%	1h	227.49	−0.031%	$49K	$1.6M	10x
Extended NVDA_24_5-USD	+0.0360%	1h	227.33	−0.101%	$689K	$722K	10x	as long as short
edgeX NVDAUSDC	+0.0749%	4h	227.62	+0.026%	$170K	$1.9M	20x	as long as short