Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0134%/8h= −14.7% APRpaid last 24h −0.022%

Price spread now: Orderly against Deribit+0.022%55s7-day average — · you sell dearer than you buy

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

Long on Deribit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.022% dearer against Deribit than usual: you sell high and buy low (spread +0.022% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 13 hours. The two prices were read 55 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	Deribit NVDA_USDC-PERPETUAL	227.45	0.0234	pay 0.0029% / 1h	39m 22s	$49K	$1.4M	10x
Short	Orderly PERP_NVDA_USDC	227.50	0.0100	get 0.0100% / 8h	39m 22s	$36K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.022%Rate

Funding earned: −$28.11
Price spread: +0.022% → 0.000%: $2.2
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$38.91
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 5 min ago; Orderly: no order-book sample. 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 Deribit live order book, 5 min ago	4.18 bp	8.0 bp −$8	9.9 bp −$99	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.013%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.50	+0.022%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.51	+0.026%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.42	−0.013%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.50	+0.020%	$3.6M	$2.1M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.53	+0.035%	$20K	$416K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.99	−0.202%	$3K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	+0.013%	$198K	$523K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.62	+0.075%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0030%	1h	227.45	0.000%	$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	−0.031%	$35K	—	20x	as long as short
Bitget NVDAUSDT	+0.0044%	8h	227.54	+0.040%	$15.6M	$17.7M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.58	+0.057%	—	$74K	25x	as long as short
Binance NVDAUSDT	+0.0046%	8h	227.52	+0.031%	$156.3M	$220.1M	50x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.36	−0.040%	$147.5M	$48.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.38	−0.031%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.38	−0.031%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.40	−0.022%	$1.6M	$2.1M	15x	as long as short
Extended NVDA_24_5-USD	+0.0056%	1h	227.32	−0.055%	$536K	$446K	10x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.51	+0.026%	$1.6M	$11.4M	10x	as long as short
Nado NVDA-PERP	+0.0081%	1h	227.36	−0.039%	$484K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0096%	1h	227.49	+0.020%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.193%	$1.3M	$861K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.34	−0.048%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.51	+0.026%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.38	−0.031%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDCshort	+0.0100%	8h	227.50	+0.022%	$36K	$22K	20x
Phoenix NVDA	+0.0106%	1h	227.38	−0.031%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.35	−0.044%	$400K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0166%	8h	227.49	+0.018%	$713K	$204K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.72	+0.119%	$73K	$136	30x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0234%	1h	227.45	long leg	$49K	$1.4M	10x
Lighter RH NVDA	+0.0240%	1h	227.67	+0.097%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0248%	1h	227.55	+0.045%	$2.1M	$3.3M	20x	as long as short
edgeX NVDAUSDC	+0.0349%	4h	227.49	+0.016%	$170K	$1.9M	20x	as long as short