Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0147%/8h= −16.1% APRpaid last 24h −0.032%

Price spread now: OKX against Deribit+0.009%7-day average +0.032% · 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−$28as in the Price arb table

costs, in and out, $10k−$260.255% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.106%−$11 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now +0.009%, 7d avg +0.032%

Together, before fees−0.028%−$3 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 0.023% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.032%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NVDA_USDC-PERPETUAL	226.97	0.0147	pay 0.0018% / 1h	16m 19s	$49K	$1.7M	10x
Short	OKX NVDA-USDT-SWAP	226.99	0	get 0.0000% / 8h	3h 16m	$14.3M	$20.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$30.8
Price spread: +0.009% → +0.032%: −$2.32
Slippage, 4 orders: −$8.52
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$58.65
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Deribit: live order book, 3 min ago; OKX: live order book, 2 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, 3 min ago	3.09 bp	7.0 bp −$7	7.8 bp −$78	doesn't fit	doesn't fit
Sell OKX live order book, 2 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	+0.026%	$12.6M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	226.99	+0.009%	$14.3M	$20.4M	50x
Gate NVDA_USDT	0.0000%	8h	226.96	−0.004%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.09	+0.053%	$15.4M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.08	+0.050%	$20K	$396K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.61	−0.159%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.26	+0.128%	$197K	$461K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.25	+0.123%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0006%	8h	227.06	+0.040%	$482K	$569K	20x	as long as short
Hotstuff NVDA-PERP	+0.0008%	1h	226.88	−0.040%	$35K	—	20x	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	+0.0012%	1h	226.89	−0.037%	$118K	$52K	10x	as long as short
Variational Omni NVDA	+0.0029%	8h	227.08	+0.046%	$3.6M	$2.2M	—	as long as short
Lighter NVDA	+0.0032%	1h	227.00	+0.011%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.96	−0.004%	$398K	$739K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.04	+0.031%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.10	+0.057%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.86	−0.048%	$147.4M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.00	+0.013%	$400K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.83	−0.062%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.67	−0.132%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0060%	1h	226.91	−0.025%	$482K	$227K	20x	as long as short
Binance NVDAUSDT	+0.0092%	8h	227.00	+0.013%	$155.5M	$216.5M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.90	−0.030%	$298K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.07	+0.044%	$1.6M	$729K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.80	−0.075%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.97	0.000%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.99	+0.010%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.11	+0.062%	$1.3M	$782K	10x	as long as short
Lighter RH NVDA	+0.0136%	1h	227.16	+0.084%	$5.1M	$7.1M	20x	as long as short
Phoenix NVDA	+0.0141%	1h	226.87	−0.044%	$93K	$112K	20x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0147%	1h	226.97	long leg	$49K	$1.7M	10x
Extended NVDA_24_5-USD	+0.0208%	1h	226.84	−0.057%	$672K	$765K	10x	as long as short
BloFin NVDA-USDT	+0.0212%	8h	227.10	+0.057%	$719K	$201K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.32	+0.154%	$73K	$139	30x	as long as short
edgeX NVDAUSDC	+0.0497%	4h	227.06	+0.041%	$170K	$1.9M	20x	as long as short