Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0413%/8h= −45.3% APRpaid last 24h −0.028%

Price spread now: OKX against Deribit+0.018%7-day average +0.032% · 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−$27as in the Price arb table

costs, in and out, $10k−$250.255% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.114%−$11 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now +0.018%, 7d avg +0.032%

Together, before fees−0.082%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$12 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 -0.114% in total (about -8.4% 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	226.26	0.0413	pay 0.0052% / 1h	9m 52s	$53K	$1.9M	10x
Short	OKX NVDA-USDT-SWAP	226.30	0	get 0.0000% / 8h	9m 52s	$14.1M	$20.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$86.81
Price spread: +0.018% → +0.032%: −$1.4
Slippage, 4 orders: −$8.49
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$113.7
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Deribit: live order book, 4 min ago; OKX: live order book, 4 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, 4 min ago	3.54 bp	7.4 bp −$7	8.6 bp −$86	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.22 bp	5.2 bp −$5	6.2 bp −$62	17.1 bp −$1,705	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	226.28	+0.009%	$12.5M	$14.4M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	226.30	+0.018%	$14.1M	$20.4M	50x
Hotstuff NVDA-PERP	0.0000%	1h	226.09	−0.075%	$35K	—	20x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.28	+0.009%	$7.2M	$10.0M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.37	+0.049%	$15.9M	$16.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.92	−0.150%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.32	+0.027%	$198K	$442K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.57	+0.137%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0016%	1h	226.16	−0.044%	$117K	$51K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.26	0.000%	$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	+0.0042%	8h	226.47	+0.094%	$22K	$423K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.32	+0.027%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.13	−0.057%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.08	−0.080%	$1.6M	$1.9M	15x	as long as short
Aster NVDAUSDT	+0.0057%	8h	226.28	+0.010%	$481K	$530K	20x	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.21	−0.022%	$1.3M	$9.1M	10x	as long as short
Polymarket Perps NVDA-USD	+0.0082%	1h	226.24	−0.009%	$391K	$247K	10x	as long as short
Variational Omni NVDA	+0.0083%	8h	226.23	−0.015%	$3.5M	$2.3M	—	as long as short
tradeXYZ xyz:NVDA	+0.0087%	1h	226.15	−0.049%	$146.9M	$43.1M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.06	−0.088%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.34	+0.035%	$1.6M	$820K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.23	−0.013%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.28	+0.009%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.29	+0.014%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.075%	$1.3M	$697K	10x	as long as short
Binance NVDAUSDT	+0.0143%	8h	226.30	+0.019%	$155.3M	$219.9M	50x	as long as short
Lighter NVDA	+0.0160%	1h	226.27	+0.004%	$2.1M	$3.3M	20x	as long as short
Nado NVDA-PERP	+0.0171%	1h	226.03	−0.102%	$480K	$223K	20x	as long as short
Phoenix NVDA	+0.0177%	1h	226.29	+0.013%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.78	+0.230%	$73K	$139	30x	as long as short
Lighter RH NVDA	+0.0232%	1h	226.42	+0.071%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0262%	8h	226.33	+0.031%	$711K	$195K	20x	as long as short
Extended NVDA_24_5-USD	+0.0352%	1h	226.04	−0.097%	$644K	$875K	10x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0413%	1h	226.26	long leg	$53K	$1.9M	10x
edgeX NVDAUSDC	+0.0539%	4h	226.32	+0.025%	$170K	$1.9M	20x	as long as short