Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0059%/8h= −6.4% APRpaid last 24h −0.048%

Price spread now: HTX against Deribit+0.075%58s7-day average +0.012% · 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−$340.337% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.176%−$18 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.075%, 7d avg +0.012%

Together, before fees−0.212%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.063% dearer against Deribit than usual: you sell high and buy low (spread +0.075% now, against its 7-day average of +0.012%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 5 days (−0.176% in total) that is about 41 hours. 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	226.86	0.0059	pay 0.0007% / 1h	14m 22s	$49K	$1.7M	10x
Short	HTX NVDA-USDT	227.03	0	get 0.0000% / 8h	3h 14m	$197K	$461K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.075%Rate

Funding earned: −$12.32
Price spread: +0.075% → +0.012%: $6.27
Slippage, 4 orders: −$14.72
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.77
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Deribit: live order book, 5 min ago; HTX: live order book, 39 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	3.09 bp	7.0 bp −$7	7.8 bp −$78	doesn't fit	doesn't fit
Sell HTX live order book, 39 min ago	0.22 bp	11.5 bp −$12	12.3 bp −$123	23.4 bp −$2,335	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	226.93	+0.031%	$12.6M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.92	+0.026%	$14.3M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.89	+0.013%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.03	+0.075%	$15.4M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.04	+0.079%	$21K	$399K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.61	−0.110%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDTshort	0.0000%	8h	227.03	+0.075%	$197K	$461K	30x
Phemex NVDAUSDT	0.0000%	4h	227.29	+0.190%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0006%	8h	227.01	+0.066%	$482K	$569K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	226.85	−0.005%	$117K	$53K	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	+0.0028%	8h	226.96	+0.042%	$3.6M	$2.2M	—	as long as short
Lighter NVDA	+0.0032%	1h	226.90	+0.016%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.92	+0.026%	$398K	$736K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	226.94	+0.035%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.04	+0.079%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.80	−0.026%	$147.4M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.90	+0.018%	$400K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.85	−0.004%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.75	−0.048%	$1.6M	$2.0M	15x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0059%	1h	226.86	long leg	$49K	$1.7M	10x
Nado NVDA-PERP	+0.0060%	1h	226.85	−0.003%	$482K	$227K	20x	as long as short
Binance NVDAUSDT	+0.0092%	8h	226.95	+0.040%	$155.4M	$216.5M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.85	−0.006%	$298K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.98	+0.053%	$1.6M	$730K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.86	0.000%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.91	+0.022%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.93	+0.031%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.11	+0.110%	$1.3M	$781K	10x	as long as short
Lighter RH NVDA	+0.0136%	1h	227.08	+0.097%	$5.1M	$7.1M	20x	as long as short
Hotstuff NVDA-PERP	+0.0136%	1h	226.86	0.000%	$35K	—	20x	as long as short
Phoenix NVDA	+0.0141%	1h	226.87	+0.004%	$93K	$112K	20x	as long as short
BloFin NVDA-USDT	+0.0213%	8h	227.03	+0.075%	$719K	$201K	20x	as long as short
Extended NVDA_24_5-USD	+0.0216%	1h	226.75	−0.046%	$672K	$765K	10x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.32	+0.203%	$73K	$139	30x	as long as short
edgeX NVDAUSDC	+0.0261%	4h	227.00	+0.063%	$170K	$1.9M	20x	as long as short