Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0042%/8h= −4.6% APRpaid last 24h −0.014%

Price spread now: HTX against QFEX−0.092%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$370.369% of the position

Long on QFEX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.092%, 7d avg −0.012%

Together, before fees+0.072%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.080% cheaper against QFEX than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NVDA-USD	227.69	0.0042	pay 0.0005% / 1h	45m 48s	$1.6M	$11.3M	10x
Short	HTX NVDA-USDT	227.48	0	get 0.0000% / 8h	7h 45m	$197K	$515K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against QFEX. 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 QFEXbpFee HTXbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$8.75
Price spread: −0.092% → −0.012%: −$8
Slippage, 4 orders: −$14.85
Fee QFEX: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$53.6
Costs to cover: 0.369%
Break-even: never at this rate

Slippage from QFEX: live order book, 3 min ago; HTX: live order book, 28 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 QFEX live order book, 3 min ago	1.32 bp	6.3 bp −$6	6.4 bp −$64	12.1 bp −$1,208	doesn't fit
Sell HTX live order book, 28 min ago	0.22 bp	13.3 bp −$13	15.1 bp −$151	39.3 bp −$3,935	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	227.60	−0.038%	$483K	$586K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.74	+0.022%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.68	−0.004%	$14.4M	$20.7M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.66	−0.013%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.71	+0.009%	$3.6M	$1.9M	—	as long as short
SunX NVDA-USDT	0.0000%	8h	227.28	−0.180%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDTshort	0.0000%	8h	227.48	−0.092%	$197K	$515K	30x
Phemex NVDAUSDT	0.0000%	4h	227.78	+0.040%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0015%	1h	227.68	−0.005%	$118K	$56K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0027%	8h	227.75	+0.028%	$20K	$396K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.58	−0.048%	$535K	$447K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.61	−0.035%	$400K	$724K	20x	as long as short
Binance NVDAUSDT	+0.0041%	8h	227.73	+0.018%	$156.5M	$217.8M	50x	as long as short
QFEX NVDA-USDlong	+0.0042%	1h	227.69	long leg	$1.6M	$11.3M	10x
Vest NVDA-USD-PERP	+0.0046%	1h	227.84	+0.066%	—	$74K	25x	as long as short
edgeX NVDAUSDC	+0.0046%	4h	227.80	+0.048%	$171K	$1.9M	20x	as long as short
Bitget NVDAUSDT	+0.0046%	8h	227.75	+0.026%	$15.5M	$17.0M	100x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.57	−0.053%	$148.0M	$46.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.64	−0.022%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.56	−0.057%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.61	−0.035%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0066%	1h	227.63	−0.027%	$484K	$229K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.101%	$1.3M	$804K	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.69	+0.001%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.59	−0.044%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.58	−0.048%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.66	−0.013%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.64	−0.022%	$94K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0121%	8h	227.76	+0.031%	$1.6M	$742K	20x	as long as short
Hotstuff NVDA-PERP	+0.0128%	1h	227.65	−0.018%	$35K	—	20x	as long as short
Lighter NVDA	+0.0136%	1h	227.74	+0.021%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0136%	1h	227.86	+0.075%	$5.1M	$7.1M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0145%	1h	227.67	−0.009%	$49K	$1.4M	10x	as long as short
BloFin NVDA-USDT	+0.0160%	8h	227.84	+0.066%	$716K	$207K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.89	+0.088%	$73K	$135	30x	as long as short