Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0410%/8h= −44.9% APRpaid last 24h −0.033%

Price spread now: Variational Omni against Deribit−0.028%7-day average +0.021% · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.131%−$13 on $10k

Price spread, last 3 days (all we have)+0.117%+$12 · spread now −0.028%, 7d avg +0.021%

Together, before fees−0.013%+ Points / potential airdropVariational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Variational Omni is 0.049% cheaper against Deribit than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.131% in total (about -14.5% 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	227.51	0.0410	pay 0.0051% / 1h	45m 10s	$49K	$1.4M	10x
Short	Variational Omni NVDA	227.45	0	get 0.0000% / 8h	45m 10s	$3.6M	$2.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.028%Rate

Funding earned: −$86.05
Price spread: −0.028% → +0.021%: −$4.91
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$97.96
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 4 min ago; Variational Omni: RFQ quote, 4 min ago. 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, 4 min ago	4.18 bp	8.1 bp −$8	10.5 bp −$105	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.79 bp	doesn't fit	4.2 bp −$42	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
Aster NVDAUSDT	0.0000%	8h	227.42	−0.040%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.54	+0.013%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.52	+0.004%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.46	−0.022%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDAshort	0.0000%	8h	227.45	−0.028%	$3.6M	$2.1M	—
GRVT NVDA_USDT_Perp	0.0000%	8h	227.48	−0.014%	$20K	$427K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.96	−0.242%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	−0.013%	$198K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.54	+0.013%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0030%	1h	227.43	−0.037%	$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
Binance NVDAUSDT	+0.0042%	8h	227.56	+0.022%	$156.4M	$220.2M	50x	as long as short
Bitget NVDAUSDT	+0.0044%	8h	227.55	+0.018%	$15.6M	$17.8M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.57	+0.026%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.41	−0.044%	$147.4M	$48.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.41	−0.044%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.39	−0.053%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.30	−0.092%	$1.6M	$2.1M	15x	as long as short
Extended NVDA_24_5-USD	+0.0056%	1h	227.35	−0.070%	$536K	$446K	10x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.51	0.000%	$1.6M	$11.4M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	227.40	−0.048%	$35K	—	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.53	+0.009%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0095%	1h	227.34	−0.075%	$484K	$228K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.220%	$1.3M	$862K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.37	−0.062%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.51	0.000%	$1.6M	$746K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	−0.092%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.50	−0.004%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.34	−0.075%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.36	−0.066%	$400K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0162%	8h	227.49	−0.009%	$671K	$204K	20x	as long as short
edgeX NVDAUSDC	+0.0183%	4h	227.45	−0.028%	$170K	$1.9M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.73	+0.097%	$73K	$135	30x	as long as short
Lighter RH NVDA	+0.0248%	1h	227.69	+0.079%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0256%	1h	227.58	+0.029%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0410%	1h	227.51	long leg	$49K	$1.4M	10x