Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0305%/8h= −33.4% APRpaid last 24h −0.017%

Price spread now: Bybit against Arcus+0.057%56s7-day average +0.090% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.235% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.075%−$7 on $10k

Price spread, last 4 days (all we have)+0.146%+$15 · spread now +0.057%, 7d avg +0.090%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Bybit is 0.032% cheaper against Arcus than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.090%). Swap the legs. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.075% in total (about -8.1% 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	Arcus NVDA-USD	227.29	0.0305	pay 0.0038% / 1h	7m 45s	$400K	$723K	20x
Short	Bybit NVDAUSDT	227.42	0	get 0.0000% / 8h	1h 07m	$12.7M	$15.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$64.06
Price spread: +0.057% → +0.090%: −$3.24
Slippage, 4 orders: −$7.96
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$90.76
Costs to cover: 0.235%
Break-even: never at this rate

Slippage from Arcus: live order book, 11 min ago; Bybit: live order book, 6 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 Arcus live order book, 11 min ago	0.66 bp	7.7 bp −$8	12.5 bp −$125	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	0.22 bp	6.7 bp −$7	9.6 bp −$96	61.0 bp −$6,097	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	+0.057%	$482K	$587K	20x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	227.42	+0.057%	$12.7M	$15.5M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.40	+0.048%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.39	+0.044%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.41	+0.055%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.49	+0.088%	$20K	$432K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.95	−0.150%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.47	+0.079%	$198K	$527K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.48	+0.084%	$2.2M	$41K	10x	as long as short
Hotstuff NVDA-PERP	+0.0008%	1h	227.33	+0.018%	$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	+0.0022%	1h	227.46	+0.075%	$118K	$55K	10x	as long as short
Binance NVDAUSDT	+0.0026%	8h	227.42	+0.057%	$156.3M	$220.8M	50x	as long as short
Bitget NVDAUSDT	+0.0031%	8h	227.45	+0.070%	$15.6M	$17.7M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.24	−0.024%	$536K	$446K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.44	+0.066%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.49	+0.088%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.28	−0.004%	$147.3M	$48.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.33	+0.018%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.29	0.000%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.22	−0.031%	$1.6M	$2.1M	15x	as long as short
Phoenix NVDA	+0.0070%	1h	227.35	+0.026%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.43	+0.064%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.123%	$1.3M	$863K	10x	as long as short
BloFin NVDA-USDT	+0.0098%	8h	227.47	+0.079%	$715K	$204K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.31	+0.009%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.49	+0.088%	$1.6M	$747K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	+0.004%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.40	+0.048%	$36K	$22K	20x	as long as short
edgeX NVDAUSDC	+0.0100%	4h	227.42	+0.055%	$170K	$1.9M	20x	as long as short
Nado NVDA-PERP	+0.0102%	1h	227.29	0.000%	$483K	$227K	20x	as long as short
Lighter RH NVDA	+0.0176%	1h	227.57	+0.123%	$5.1M	$7.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0190%	1h	227.35	+0.026%	$49K	$1.4M	10x	as long as short
Lighter NVDA	+0.0200%	1h	227.44	+0.065%	$2.1M	$3.3M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.80	+0.224%	$73K	$139	30x	as long as short
Arcus NVDA-USDlong	+0.0305%	1h	227.29	long leg	$400K	$723K	20x