Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.077%

Price spread now: Nado against edgeX−0.105%62s7-day average −0.012% · you buy dearer than you sell

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−$420.417% of the position

Long on edgeX Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.491%−$49 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.105%, 7d avg −0.012%

Together, before fees−0.431%+ Points / potential airdropedgeX: Active · Nado: Active · farm board−$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Nado is 0.093% cheaper against edgeX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.012%). Swap the legs. The two prices were read 62 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	edgeX NVDAUSDC	226.45	0.0093	pay 0.0047% / 4h	2h 26m	$170K	$1.9M	20x
Short	Nado NVDA-PERP	226.21	0.0077	get 0.0010% / 1h	26m 35s	$481K	$227K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against edgeX. 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 edgeXbpFee NadobpOrdersPrice spread, now −0.105%Rate

Funding earned: −$3.45
Price spread: −0.105% → −0.012%: −$9.26
Slippage, 4 orders: −$25.67
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$54.38
Costs to cover: 0.417%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Nado: live order book, 21 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 edgeX live order book, 2 min ago	3.76 bp	8.6 bp −$9	12.8 bp −$128	doesn't fit	doesn't fit
Sell Nado live order book, 21 min ago	1.54 bp	14.4 bp −$14	21.6 bp −$216	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	−0.0040%	1h	226.20	−0.111%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.37	−0.037%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.31	−0.062%	$12.5M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.33	−0.053%	$14.2M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.30	−0.067%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.37	−0.036%	$15.2M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.46	+0.003%	$21K	$409K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.03	−0.186%	$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	226.47	+0.008%	$2.2M	$42K	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	+0.0011%	1h	226.33	−0.052%	$117K	$52K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0015%	1h	226.24	−0.093%	$53K	$1.8M	10x	as long as short
Lighter NVDA	+0.0032%	1h	226.31	−0.061%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.31	−0.062%	$397K	$726K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.31	−0.062%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.42	−0.014%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.21	−0.106%	$147.0M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.28	−0.075%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.19	−0.115%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.17	−0.124%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERPshort	+0.0077%	1h	226.21	−0.105%	$481K	$227K	20x
Binance NVDAUSDT	+0.0079%	8h	226.36	−0.039%	$154.4M	$218.3M	50x	as long as short
edgeX NVDAUSDClong	+0.0093%	4h	226.45	long leg	$170K	$1.9M	20x
Lighter RH NVDA	+0.0096%	1h	226.45	0.000%	$5.0M	$7.1M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.23	−0.096%	$297K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.35	−0.045%	$1.6M	$739K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.25	−0.089%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.27	−0.080%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.30	−0.066%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.30	−0.067%	$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
BloFin NVDA-USDT	+0.0199%	8h	226.43	−0.009%	$716K	$191K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.71	+0.114%	$73K	$138	30x	as long as short
Extended NVDA_24_5-USD	+0.0312%	1h	226.13	−0.144%	$668K	$766K	10x	as long as short