Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0056%/8h= −6.2% APRpaid last 24h −0.014%

Price spread now: SunX against QFEX−0.155%7-day average −0.114% · 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−$82as in the Price arb table

costs, in and out, $10k−$780.783% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now −0.155%, 7d avg −0.114%

Together, before fees+0.015%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.040% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.114%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NVDA-USD	226.31	0.0056	pay 0.0007% / 1h	39m 28s	$1.3M	$9.1M	10x
Short	SunX NVDA-USDT	225.96	0	get 0.0000% / 8h	1h 39m	$2K	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.155%Rate

Funding earned: −$11.83
Price spread: −0.155% → −0.114%: −$4.02
Slippage, 4 orders: −$60.34
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$94.19
Costs to cover: 0.783%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; SunX: live order book, 9 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, 4 min ago	1.99 bp	7.0 bp −$7	8.0 bp −$80	12.1 bp −$1,213	doesn't fit
Sell SunX live order book, 9 min ago	21.88 bp	25.9 bp −$26	55.4 bp −$554	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
Bybit NVDAUSDT	0.0000%	8h	226.32	+0.004%	$12.4M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.28	−0.013%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.26	−0.022%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.34	+0.013%	$15.2M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.37	+0.025%	$21K	$422K	10x	as long as short
SunX NVDA-USDTshort	0.0000%	8h	225.96	−0.155%	$2K	$3.7M	20x
HTX NVDA-USDT	0.0000%	8h	226.37	+0.027%	$198K	$453K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.67	+0.159%	$2.2M	$42K	10x	as long as short
Aster NVDAUSDT	+0.0002%	8h	226.36	+0.024%	$482K	$571K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0016%	1h	226.27	−0.017%	$117K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0018%	8h	226.30	−0.006%	$3.5M	$2.2M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.28	−0.013%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.39	+0.035%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.17	−0.062%	$146.9M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.26	−0.022%	$398K	$279K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.16	−0.066%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.06	−0.110%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USDlong	+0.0056%	1h	226.31	long leg	$1.3M	$9.1M	10x
Lighter NVDA	+0.0088%	1h	226.27	−0.016%	$2.1M	$3.3M	20x	as long as short
Binance NVDAUSDT	+0.0088%	8h	226.32	+0.003%	$154.3M	$219.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.19	−0.054%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.34	+0.013%	$1.6M	$749K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.16	−0.066%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.27	−0.018%	$36K	$21K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0104%	1h	226.23	−0.035%	$52K	$1.8M	10x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.30	−0.003%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.27	−0.018%	$93K	$112K	20x	as long as short
Hotstuff NVDA-PERP	+0.0112%	1h	226.16	−0.066%	$35K	—	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.009%	$1.3M	$789K	10x	as long as short
Lighter RH NVDA	+0.0144%	1h	226.42	+0.049%	$5.0M	$6.9M	20x	as long as short
Nado NVDA-PERP	+0.0146%	1h	226.18	−0.058%	$480K	$226K	20x	as long as short
BloFin NVDA-USDT	+0.0209%	8h	226.44	+0.057%	$716K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.01	+0.309%	$73K	$137	30x	as long as short
edgeX NVDAUSDC	+0.0469%	4h	226.30	−0.006%	$170K	$1.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0472%	1h	226.15	−0.071%	$667K	$762K	10x	as long as short