Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.011%

Price spread now: OKX against Arcus−0.031%47s7-day average +0.093% · 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—prices read too far apart to compare

costs, in and out, $10k−$310.310% of the position

Long on Arcus Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.050%−$5 on $10k

Price spread, last 4 days (all we have)+0.199%+$20 · spread now −0.031%, 7d avg +0.093%

Together, before fees+0.149%+$15 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 OKX is 0.124% cheaper against Arcus than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.093%). Swap the legs. The two prices were read 47 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	Arcus NVDA-USD	226.35	0.0040	pay 0.0005% / 1h	57m 49s	$399K	$732K	20x
Short	OKX NVDA-USDT-SWAP	226.28	0	get 0.0000% / 8h	57m 49s	$14.1M	$20.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$8.46
Price spread: −0.031% → +0.093%: −$12.4
Slippage, 4 orders: −$16.48
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$51.84
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from Arcus: live order book, 46 min ago; OKX: live order book, 1 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, 46 min ago	1.10 bp	8.9 bp −$9	11.8 bp −$118	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.22 bp	5.3 bp −$5	7.8 bp −$78	17.0 bp −$1,703	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	226.28	−0.031%	$12.4M	$14.6M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	226.28	−0.031%	$14.1M	$20.5M	50x
Gate NVDA_USDT	0.0000%	8h	226.26	−0.040%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.36	+0.004%	$15.8M	$16.6M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.46	+0.049%	$21K	$421K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.82	−0.234%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.42	+0.031%	$198K	$448K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.49	+0.062%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0018%	1h	226.22	−0.058%	$117K	$51K	10x	as long as short
Aster NVDAUSDT	+0.0018%	8h	226.30	−0.024%	$482K	$530K	20x	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	+0.0036%	8h	226.42	+0.029%	$3.5M	$2.3M	—	as long as short
Arcus NVDA-USDlong	+0.0040%	1h	226.35	long leg	$399K	$732K	20x
Vest NVDA-USD-PERP	+0.0046%	1h	226.38	+0.013%	—	$74K	25x	as long as short
Hotstuff NVDA-PERP	+0.0048%	1h	226.24	−0.049%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.13	−0.097%	$146.9M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.24	−0.049%	$391K	$247K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.15	−0.088%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.13	−0.097%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.30	−0.022%	$1.3M	$9.1M	10x	as long as short
Lighter NVDA	+0.0080%	1h	226.23	−0.054%	$2.1M	$3.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.19	−0.070%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.32	−0.013%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.21	−0.062%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.23	−0.053%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.29	−0.027%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0104%	8h	226.29	−0.029%	$154.3M	$218.4M	50x	as long as short
Phoenix NVDA	+0.0106%	1h	226.30	−0.022%	$93K	$83K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.29	−0.027%	$1.3M	$697K	10x	as long as short
Nado NVDA-PERP	+0.0124%	1h	226.19	−0.069%	$480K	$223K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0148%	1h	226.19	−0.071%	$53K	$1.8M	10x	as long as short
Lighter RH NVDA	+0.0152%	1h	226.33	−0.009%	$5.1M	$6.9M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.94	+0.261%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0224%	8h	226.43	+0.035%	$712K	$195K	20x	as long as short
Extended NVDA_24_5-USD	+0.0360%	1h	226.07	−0.124%	$644K	$875K	10x	as long as short
edgeX NVDAUSDC	+0.0455%	4h	226.45	+0.045%	$170K	$1.9M	20x	as long as short