Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0192%/8h= −21.0% APRpaid last 24h −0.019%

Price spread now: Bitget against Deribit+0.009%58s7-day average +0.054% · you sell dearer than you buy

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−$300.299% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.068%+$7 · spread now +0.009%, 7d avg +0.054%

Together, before fees−0.029%−$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bitget is 0.045% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.054%). Swap the legs. The two prices were read 58 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	Deribit NVDA_USDC-PERPETUAL	226.45	0.0192	pay 0.0024% / 1h	29m 24s	$53K	$1.8M	10x
Short	Bitget NVDAUSDT	226.47	0	get 0.0000% / 8h	2h 29m	$15.3M	$16.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$40.28
Price spread: +0.009% → +0.054%: −$4.49
Slippage, 4 orders: −$10.95
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$74.71
Costs to cover: 0.299%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; Bitget: live order book, 4 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 Deribit live order book, 5 min ago	3.97 bp	7.9 bp −$8	8.2 bp −$82	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.22 bp	6.9 bp −$7	9.1 bp −$91	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	−0.0008%	1h	226.37	−0.035%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.51	+0.024%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.44	−0.004%	$12.5M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.42	−0.013%	$14.2M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.43	−0.009%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDTshort	0.0000%	8h	226.47	+0.009%	$15.3M	$16.4M	100x
GRVT NVDA_USDT_Perp	0.0000%	8h	226.43	−0.008%	$21K	$409K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.22	−0.102%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.55	+0.044%	$198K	$460K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.79	+0.150%	$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
Variational Omni NVDA	+0.0004%	8h	226.39	−0.027%	$3.6M	$2.1M	—	as long as short
Aftermath Perps NVDAUSD	+0.0010%	1h	226.34	−0.048%	$117K	$52K	10x	as long as short
Lighter NVDA	+0.0032%	1h	226.41	−0.018%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.41	−0.018%	$397K	$726K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.44	−0.004%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.55	+0.044%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.32	−0.057%	$147.0M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.40	−0.022%	$399K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.32	−0.057%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.25	−0.088%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0076%	1h	226.35	−0.044%	$481K	$227K	20x	as long as short
Binance NVDAUSDT	+0.0079%	8h	226.48	+0.013%	$154.5M	$218.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.36	−0.041%	$297K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.50	+0.022%	$1.6M	$736K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.33	−0.053%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.44	−0.004%	$36K	$21K	20x	as long as short
Lighter RH NVDA	+0.0104%	1h	226.53	+0.035%	$5.1M	$7.1M	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.44	−0.005%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.40	−0.022%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.38	−0.031%	$1.3M	$781K	10x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0192%	1h	226.45	long leg	$53K	$1.8M	10x
BloFin NVDA-USDT	+0.0198%	8h	226.45	0.000%	$719K	$191K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.11	+0.291%	$73K	$137	30x	as long as short
Extended NVDA_24_5-USD	+0.0312%	1h	226.26	−0.082%	$668K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0809%	4h	226.45	+0.002%	$170K	$1.9M	20x	as long as short