Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.008%

Price spread now: Deribit against BloFin−0.040%7-day average −0.036% · 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−$27as in the Price arb table

costs, in and out, $10k−$270.269% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.025%+$3 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now −0.040%, 7d avg −0.036%

Together, before fees+0.050%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.036%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid 0.025% in total (about 1.9% 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	BloFin NVDA-USDT	226.92	0.0200	pay 0.0200% / 8h	2h 46m	$718K	$191K	20x
Short	Deribit NVDA_USDC-PERPETUAL	226.83	0	get 0.0000% / 1h	46m 40s	$52K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$41.99
Price spread: −0.040% → −0.036%: −$0.39
Slippage, 4 orders: −$7.91
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$69.29
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from BloFin: live order book, 45 min ago; Deribit: live order book, 2 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 BloFin live order book, 45 min ago	0.22 bp	6.2 bp −$6	7.0 bp −$70	11.2 bp −$1,123	doesn't fit
Sell Deribit live order book, 2 min ago	3.53 bp	7.0 bp −$7	7.3 bp −$73	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
Aster NVDAUSDT	0.0000%	8h	226.86	−0.024%	$483K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.86	−0.026%	$12.5M	$14.9M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.87	−0.022%	$14.3M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.85	−0.031%	$7.3M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.91	−0.004%	$15.3M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.94	+0.008%	$21K	$409K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.61	−0.137%	$2K	$3.7M	20x	as long as short
Deribit NVDA_USDC-PERPETUALshort	0.0000%	1h	226.83	−0.040%	$52K	$1.7M	10x
HTX NVDA-USDT	0.0000%	8h	227.01	+0.040%	$198K	$462K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.96	+0.018%	$2.2M	$43K	10x	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	+0.0007%	1h	226.72	−0.088%	$118K	$52K	10x	as long as short
Variational Omni NVDA	+0.0009%	8h	226.94	+0.007%	$3.6M	$2.1M	—	as long as short
Lighter NVDA	+0.0032%	1h	226.86	−0.025%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.85	−0.031%	$398K	$728K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.91	−0.004%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.03	+0.048%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.76	−0.071%	$147.3M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.86	−0.026%	$399K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.77	−0.066%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.73	−0.084%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0053%	1h	226.83	−0.041%	$482K	$226K	20x	as long as short
Hotstuff NVDA-PERP	+0.0072%	1h	226.78	−0.062%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0079%	8h	226.91	−0.005%	$155.3M	$217.2M	50x	as long as short
Lighter RH NVDA	+0.0096%	1h	227.02	+0.044%	$5.1M	$7.1M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.77	−0.066%	$298K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.92	0.000%	$1.6M	$734K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.81	−0.048%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.84	−0.035%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.90	−0.007%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.86	−0.026%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.63	−0.128%	$1.3M	$781K	10x	as long as short
BloFin NVDA-USDTlong	+0.0200%	8h	226.92	long leg	$718K	$191K	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.12	+0.088%	$73K	$136	30x	as long as short
Extended NVDA_24_5-USD	+0.0256%	1h	226.73	−0.084%	$668K	$767K	10x	as long as short
edgeX NVDAUSDC	+0.0807%	4h	226.90	−0.008%	$170K	$1.9M	20x	as long as short