Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0112%/8h= +12.3% APRpaid last 24h +0.036%

Price spread now: Coinbase International against Bybit−0.150%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.150%, 7d avg −0.059%

Together, before fees+0.205%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.091% cheaper against Bybit than usual: you would sell low and buy high (spread −0.150% now, against its 7-day average of −0.059%). If the spread goes back, that is −$9 on $10k: about 2.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	226.63	0	get 0.0000% / 8h	1h 20m	$12.4M	$14.8M	100x
Short	Coinbase International NVDA-PERP-INTX	226.29	0.0112	get 0.0014% / 1h	20m 37s	$1.3M	$724K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.150%Rate

Funding earned: $23.52
Price spread: −0.150% → −0.059%: −$9.07
Slippage, 4 orders: −$8.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$14.67
Costs to cover: 0.291%
Break-even: 11.4 days

Slippage from Bybit: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	0.22 bp	6.5 bp −$6	8.9 bp −$89	88.8 bp −$8,881	doesn't fit
Sell Coinbase International live order book, 3 min ago	2.65 bp	8.1 bp −$8	10.5 bp −$105	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
Hotstuff NVDA-PERP	−0.0016%	1h	226.48	−0.066%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.49	−0.064%	$482K	$530K	20x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	226.63	long leg	$12.4M	$14.8M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.59	−0.018%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.57	−0.026%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.65	+0.009%	$15.2M	$16.0M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.54	−0.038%	$21K	$419K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.25	−0.168%	$3K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.60	−0.013%	$198K	$451K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.70	+0.031%	$2.2M	$42K	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	+0.0013%	1h	226.31	−0.141%	$117K	$51K	10x	as long as short
Variational Omni NVDA	+0.0017%	8h	226.62	−0.006%	$3.5M	$2.3M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.51	−0.053%	$399K	$732K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.69	+0.026%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.48	−0.066%	$147.1M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.56	−0.031%	$391K	$285K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.49	−0.062%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.41	−0.097%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.58	−0.022%	$1.3M	$9.1M	10x	as long as short
Binance NVDAUSDT	+0.0085%	8h	226.64	+0.004%	$154.5M	$218.2M	50x	as long as short
Lighter NVDA	+0.0088%	1h	226.57	−0.026%	$2.1M	$3.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.41	−0.096%	$297K	$46K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.52	−0.049%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.38	−0.110%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.59	−0.018%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.62	−0.006%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.32	−0.137%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTXshort	+0.0112%	1h	226.29	−0.150%	$1.3M	$724K	10x
Nado NVDA-PERP	+0.0120%	1h	226.45	−0.078%	$481K	$224K	20x	as long as short
Lighter RH NVDA	+0.0128%	1h	226.70	+0.031%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0204%	8h	226.66	+0.013%	$712K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.67	+0.018%	$73K	$138	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0236%	1h	226.56	−0.031%	$52K	$1.8M	10x	as long as short
Extended NVDA_24_5-USD	+0.0384%	1h	226.39	−0.106%	$623K	$833K	10x	as long as short
edgeX NVDAUSDC	+0.0909%	4h	226.50	−0.057%	$170K	$1.9M	20x	as long as short