Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.022%

Price spread now: OKX against Coinbase International−0.040%55s7-day average +0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

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

costs, in and out, $10k−$290.290% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.053%−$5 on $10k

Price spread, last 4 days (all we have)+0.157%+$16 · spread now −0.040%, 7d avg +0.066%

Together, before fees+0.103%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.105% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.066%). Swap the legs. The two prices were read 55 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	Coinbase International NVDA-PERP-INTX	227.11	0.0128	pay 0.0016% / 1h	17m 22s	$1.3M	$782K	10x
Short	OKX NVDA-USDT-SWAP	227.02	0	get 0.0000% / 8h	3h 17m	$14.3M	$20.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Coinbase International. 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 Coinbase InternationalbpFee OKXbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$26.88
Price spread: −0.040% → +0.066%: −$10.52
Slippage, 4 orders: −$9.03
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$66.43
Costs to cover: 0.290%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 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 Coinbase International live order book, 1 min ago	2.42 bp	9.4 bp −$9	10.3 bp −$103	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	0.22 bp	5.5 bp −$6	7.4 bp −$74	15.9 bp −$1,587	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	227.03	−0.035%	$12.6M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	227.02	−0.040%	$14.3M	$20.4M	50x
Gate NVDA_USDT	0.0000%	8h	226.97	−0.062%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.05	−0.026%	$15.4M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.08	−0.012%	$20K	$396K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.55	−0.247%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.26	+0.066%	$197K	$461K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.23	+0.053%	$2.2M	$43K	10x	as long as short
Hotstuff NVDA-PERP	+0.0008%	1h	226.88	−0.101%	$35K	—	20x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	226.89	−0.099%	$118K	$52K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit NVDA_USDC-PERPETUAL	+0.0015%	1h	226.86	−0.110%	$49K	$1.7M	10x	as long as short
Aster NVDAUSDT	+0.0017%	8h	227.06	−0.022%	$482K	$569K	20x	as long as short
Variational Omni NVDA	+0.0029%	8h	227.08	−0.015%	$3.6M	$2.2M	—	as long as short
Lighter NVDA	+0.0032%	1h	226.98	−0.056%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.94	−0.075%	$398K	$739K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.00	−0.048%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.07	−0.018%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.87	−0.106%	$147.4M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.00	−0.048%	$400K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.79	−0.141%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.67	−0.194%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0058%	1h	226.90	−0.091%	$482K	$227K	20x	as long as short
Binance NVDAUSDT	+0.0092%	8h	227.07	−0.019%	$155.6M	$216.3M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.91	−0.087%	$298K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.05	−0.026%	$1.6M	$729K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.80	−0.136%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.01	−0.044%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.93	−0.078%	—	—	10x	as long as short
Lighter RH NVDA	+0.0128%	1h	227.14	+0.013%	$5.1M	$7.1M	20x	as long as short
Coinbase International NVDA-PERP-INTXlong	+0.0128%	1h	227.11	long leg	$1.3M	$782K	10x
Phoenix NVDA	+0.0141%	1h	226.87	−0.106%	$93K	$112K	20x	as long as short
Extended NVDA_24_5-USD	+0.0200%	1h	226.86	−0.110%	$672K	$765K	10x	as long as short
BloFin NVDA-USDT	+0.0212%	8h	227.14	+0.013%	$718K	$201K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.52	+0.181%	$73K	$138	30x	as long as short
edgeX NVDAUSDC	+0.0497%	4h	227.06	−0.021%	$170K	$1.9M	20x	as long as short