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: Arcus against Bybit−0.031%7-day average −0.090% · 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−$20as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Bybit Short on Arcus

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)−0.172%−$17 · spread now −0.031%, 7d avg −0.090%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Arcus is 0.059% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.090%.

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 8.2% 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	Bybit NVDAUSDT	227.20	0	get 0.0000% / 8h	1h 47m	$12.6M	$15.7M	100x
Short	Arcus NVDA-USD	227.13	0.0305	get 0.0038% / 1h	47m 34s	$388K	$709K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Bybit. 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 BybitbpFee ArcusbpOrdersPrice spread, now −0.031%Rate

Funding earned: $64.06
Price spread: −0.031% → −0.090%: $5.88
Slippage, 4 orders: −$9.95
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: $44.49
Costs to cover: 0.254%
Break-even: 2.1 days

Slippage from Bybit: live order book, 1 min ago; Arcus: live order book, 36 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 Bybit live order book, 1 min ago	0.22 bp	6.4 bp −$6	8.9 bp −$89	48.7 bp −$4,870	doesn't fit
Sell Arcus live order book, 36 min ago	1.32 bp	5.6 bp −$6	9.2 bp −$92	39.7 bp −$3,973	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
Hotstuff NVDA-PERP	−0.0024%	1h	227.06	−0.062%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	227.17	−0.014%	$473K	$550K	20x	as long as short
Binance NVDAUSDT	0.0000%	8h	227.25	+0.022%	$156.2M	$220.6M	50x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	227.20	long leg	$12.6M	$15.7M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.22	+0.009%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.17	−0.013%	$7.2M	$9.5M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.25	+0.020%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.27	+0.031%	$20K	$452K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.82	−0.167%	$3K	$4.0M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.12	−0.035%	$49K	$1.5M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NVDA-USDT	0.0000%	8h	227.31	+0.048%	$202K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.29	+0.040%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0014%	1h	227.21	+0.003%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0023%	8h	227.23	+0.013%	$15.6M	$18.2M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.04	−0.070%	$522K	$409K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.20	0.000%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.31	+0.048%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.05	−0.066%	$147.1M	$50.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.13	−0.031%	$390K	$281K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.07	−0.057%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.04	−0.070%	$1.6M	$2.1M	15x	as long as short
Nado NVDA-PERP	+0.0055%	1h	227.09	−0.049%	$487K	$225K	20x	as long as short
Phoenix NVDA	+0.0070%	1h	227.11	−0.040%	$93K	$112K	20x	as long as short
Lighter RH NVDA	+0.0080%	1h	227.34	+0.062%	$4.9M	$7.0M	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.18	−0.009%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.084%	$1.3M	$911K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.07	−0.058%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.23	+0.013%	$1.6M	$753K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.16	−0.018%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.17	−0.013%	$36K	$22K	20x	as long as short
Lighter NVDA	+0.0120%	1h	227.24	+0.018%	$2.1M	$3.2M	20x	as long as short
BloFin NVDA-USDT	+0.0120%	8h	227.27	+0.031%	$714K	$205K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.63	+0.189%	$73K	$135	30x	as long as short
Arcus NVDA-USDshort	+0.0305%	1h	227.13	−0.031%	$388K	$709K	20x
edgeX NVDAUSDC	+0.0498%	4h	227.24	+0.019%	$170K	$1.9M	20x	as long as short