Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.036%

Price spread now: Injective against Orderly+0.097%58s7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Injective

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

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Injective is 0.097% dearer against Orderly than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 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	Orderly PERP_NVDA_USDC	227.50	0.0100	pay 0.0100% / 8h	41m 39s	$36K	$22K	20x
Short	Injective NVDA/USDC PERP	227.72	0.0220	get 0.0028% / 1h	41m 39s	$73K	$136	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Orderly. 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 OrderlybpFee InjectivebpOrdersPrice spread, now +0.097%Rate

Funding earned: $25.2
Price spread: +0.097% → 0.000%: $9.67
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $28.85
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Injective: 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 Orderly no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Orderly and Injective: 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	−0.035%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.48	−0.009%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.45	−0.022%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.42	−0.035%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.45	−0.023%	$3.6M	$2.1M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.56	+0.026%	$20K	$416K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.03	−0.207%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	−0.009%	$198K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.62	+0.053%	$2.2M	$42K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	227.36	−0.062%	$35K	—	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0029%	1h	227.40	−0.044%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0045%	8h	227.50	0.000%	$15.6M	$17.7M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.62	+0.053%	—	$74K	25x	as long as short
Binance NVDAUSDT	+0.0046%	8h	227.50	+0.002%	$156.3M	$220.2M	50x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.34	−0.070%	$147.4M	$48.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.46	−0.018%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.41	−0.040%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.40	−0.044%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.51	+0.004%	$1.6M	$11.4M	10x	as long as short
Extended NVDA_24_5-USD	+0.0064%	1h	227.32	−0.077%	$536K	$446K	10x	as long as short
Nado NVDA-PERP	+0.0085%	1h	227.34	−0.070%	$484K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.54	+0.018%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.215%	$1.3M	$861K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.31	−0.084%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.51	+0.004%	$1.6M	$744K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.38	−0.053%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDClong	+0.0100%	8h	227.50	long leg	$36K	$22K	20x
Phoenix NVDA	+0.0106%	1h	227.47	−0.013%	$94K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.33	−0.075%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0164%	8h	227.49	−0.004%	$713K	$204K	20x	as long as short
Injective NVDA/USDC PERPshort	+0.0220%	1h	227.72	+0.097%	$73K	$136	30x
Lighter RH NVDA	+0.0240%	1h	227.63	+0.057%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0248%	1h	227.50	+0.002%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0278%	1h	227.50	0.000%	$49K	$1.4M	10x	as long as short
edgeX NVDAUSDC	+0.0643%	4h	227.53	+0.012%	$170K	$1.9M	20x	as long as short