Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0310%/8h= −34.0% APRpaid last 24h −0.001%

Price spread now: KuCoin against Deribit+0.018%7-day average +0.034% · 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−$58as in the Price arb table

costs, in and out, $10k−$560.561% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.027%+$3 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.018%, 7d avg +0.034%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.027% in total (about 2.0% 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	Deribit NVDA_USDC-PERPETUAL	226.24	0.0413	pay 0.0052% / 1h	6m 43s	$53K	$1.9M	10x
Short	KuCoin NVDAUSDTM	226.28	0.0103	get 0.0103% / 8h	6m 43s	$1.6M	$829K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Deribit. 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 DeribitbpFee KuCoinbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$65.19
Price spread: +0.018% → +0.034%: −$1.63
Slippage, 4 orders: −$37.15
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$122.97
Costs to cover: 0.561%
Break-even: never at this rate

Slippage from Deribit: live order book, 2 min ago; KuCoin: live order book, 9 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 Deribit live order book, 2 min ago	0.22 bp	7.7 bp −$8	8.4 bp −$84	doesn't fit	doesn't fit
Sell KuCoin live order book, 9 min ago	1.77 bp	18.9 bp −$19	doesn't fit	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	226.26	+0.009%	$12.5M	$14.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.26	+0.009%	$14.1M	$20.3M	50x	as long as short
Hotstuff NVDA-PERP	0.0000%	1h	226.16	−0.035%	$35K	—	20x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.24	0.000%	$7.2M	$10.0M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.38	+0.062%	$15.9M	$16.6M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.95	−0.128%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.32	+0.035%	$198K	$439K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.56	+0.141%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0016%	1h	226.08	−0.069%	$117K	$51K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.26	+0.009%	$392K	$738K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0044%	8h	226.28	+0.016%	$21K	$424K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.34	+0.044%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.17	−0.031%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.03	−0.093%	$1.6M	$1.9M	15x	as long as short
Aster NVDAUSDT	+0.0060%	8h	226.27	+0.011%	$481K	$530K	20x	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.29	+0.022%	$1.3M	$9.1M	10x	as long as short
Polymarket Perps NVDA-USD	+0.0080%	1h	226.22	−0.009%	$391K	$247K	10x	as long as short
Variational Omni NVDA	+0.0083%	8h	226.23	−0.006%	$3.5M	$2.3M	—	as long as short
tradeXYZ xyz:NVDA	+0.0089%	1h	226.12	−0.053%	$146.8M	$43.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.09	−0.066%	$297K	$48K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.03	−0.093%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.28	+0.018%	$36K	$21K	20x	as long as short
KuCoin NVDAUSDTMshort	+0.0103%	8h	226.28	+0.018%	$1.6M	$829K	20x
Aevo NVDA-PERP	+0.0120%	1h	226.31	+0.032%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.066%	$1.3M	$695K	10x	as long as short
Binance NVDAUSDT	+0.0147%	8h	226.30	+0.026%	$155.3M	$219.7M	50x	as long as short
Lighter NVDA	+0.0168%	1h	226.20	−0.017%	$2.1M	$3.3M	20x	as long as short
Nado NVDA-PERP	+0.0172%	1h	226.09	−0.065%	$480K	$223K	20x	as long as short
Phoenix NVDA	+0.0177%	1h	226.26	+0.009%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.54	+0.133%	$73K	$140	30x	as long as short
Lighter RH NVDA	+0.0232%	1h	226.35	+0.049%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0265%	8h	226.35	+0.049%	$711K	$195K	20x	as long as short
edgeX NVDAUSDC	+0.0304%	4h	226.28	+0.019%	$170K	$1.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0360%	1h	225.96	−0.124%	$644K	$875K	10x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0413%	1h	226.24	long leg	$53K	$1.9M	10x