Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0234%/8h= −25.6% APRpaid last 24h −0.046%

Price spread now: Bybit against Deribit+0.004%7-day average +0.025% · 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−$31as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.162%−$16 on $10k

Price spread, last 3 days (all we have)+0.056%+$6 · spread now +0.004%, 7d avg +0.025%

Together, before fees−0.105%−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bybit is 0.020% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.025%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NVDA_USDC-PERPETUAL	227.38	0.0234	pay 0.0029% / 1h	18m 54s	$49K	$1.4M	10x
Short	Bybit NVDAUSDT	227.39	0	get 0.0000% / 8h	18m 54s	$12.7M	$15.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$49.14
Price spread: +0.004% → +0.025%: −$2.05
Slippage, 4 orders: −$11.39
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$80.58
Costs to cover: 0.294%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; Bybit: 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	4.18 bp	8.0 bp −$8	10.6 bp −$106	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.22 bp	6.9 bp −$7	11.1 bp −$111	47.0 bp −$4,703	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	227.39	+0.004%	$482K	$587K	20x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	227.39	+0.004%	$12.7M	$15.4M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.44	+0.026%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.36	−0.009%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.32	−0.024%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.38	0.000%	$21K	$412K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.90	−0.211%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.44	+0.026%	$198K	$521K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.43	+0.022%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0026%	1h	227.20	−0.081%	$118K	$56K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NVDAUSDT	+0.0031%	8h	227.46	+0.035%	$15.5M	$17.6M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.26	−0.051%	$535K	$447K	10x	as long as short
Binance NVDAUSDT	+0.0036%	8h	227.44	+0.028%	$156.3M	$219.4M	50x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.47	+0.040%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.27	−0.048%	$147.9M	$48.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.30	−0.035%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.25	−0.057%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.16	−0.097%	$1.6M	$2.1M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.23	−0.066%	$35K	—	20x	as long as short
Nado NVDA-PERP	+0.0059%	1h	227.26	−0.051%	$483K	$229K	20x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.37	−0.004%	$1.6M	$11.5M	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.40	+0.010%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.163%	$1.3M	$845K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.24	−0.062%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.42	+0.018%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	−0.035%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.34	−0.018%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.28	−0.044%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.22	−0.070%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0143%	8h	227.37	−0.004%	$715K	$205K	20x	as long as short
Lighter RH NVDA	+0.0200%	1h	227.56	+0.079%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0208%	1h	227.44	+0.028%	$2.2M	$3.3M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.65	+0.119%	$73K	$139	30x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0234%	1h	227.38	long leg	$49K	$1.4M	10x
edgeX NVDAUSDC	+0.0475%	4h	227.34	−0.019%	$170K	$1.9M	20x	as long as short