Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: Orderly against Injective−0.189%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Orderly is 0.189% cheaper against Injective than usual: you would sell low and buy high (−$19 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective NVDA/USDC PERP	227.63	0.0220	pay 0.0028% / 1h	46m 56s	$73K	$135	30x
Short	Orderly PERP_NVDA_USDC	227.20	0.0100	get 0.0100% / 8h	1h 46m	$36K	$22K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Injective. 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 InjectivebpFee OrderlybpOrdersPrice spread, now −0.189%Rate

Funding earned: −$25.2
Price spread: −0.189% → 0.000%: −$18.89
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$50.11
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Orderly: no order-book sample. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Injective and Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0024%	1h	227.06	−0.250%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	227.17	−0.200%	$473K	$550K	20x	as long as short
Binance NVDAUSDT	0.0000%	8h	227.26	−0.165%	$156.2M	$220.6M	50x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.19	−0.193%	$12.6M	$15.7M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.21	−0.185%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.17	−0.202%	$7.2M	$9.5M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.25	−0.169%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.27	−0.158%	$20K	$452K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.86	−0.338%	$3K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.31	−0.141%	$202K	$524K	30x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex NVDAUSDT	0.0000%	4h	227.28	−0.154%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0014%	1h	227.16	−0.208%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0023%	8h	227.23	−0.176%	$15.6M	$18.2M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.03	−0.261%	$522K	$409K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.20	−0.189%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.31	−0.141%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.06	−0.250%	$147.1M	$50.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.13	−0.220%	$390K	$281K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.09	−0.237%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.04	−0.259%	$1.6M	$2.1M	15x	as long as short
Nado NVDA-PERP	+0.0055%	1h	227.09	−0.238%	$487K	$225K	20x	as long as short
Phoenix NVDA	+0.0070%	1h	227.11	−0.228%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.19	−0.192%	—	—	10x	as long as short
Lighter RH NVDA	+0.0088%	1h	227.34	−0.127%	$4.9M	$7.0M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.272%	$1.3M	$911K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.07	−0.247%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.24	−0.171%	$1.6M	$753K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.16	−0.206%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDCshort	+0.0100%	8h	227.20	−0.189%	$36K	$22K	20x
Deribit NVDA_USDC-PERPETUAL	+0.0102%	1h	227.14	−0.215%	$49K	$1.5M	10x	as long as short
BloFin NVDA-USDT	+0.0120%	8h	227.27	−0.158%	$714K	$205K	20x	as long as short
Lighter NVDA	+0.0128%	1h	227.23	−0.177%	$2.1M	$3.2M	20x	as long as short
Injective NVDA/USDC PERPlong	+0.0220%	1h	227.63	long leg	$73K	$135	30x
Arcus NVDA-USD	+0.0305%	1h	227.13	−0.220%	$388K	$709K	20x	as long as short
edgeX NVDAUSDC	+0.0498%	4h	227.24	−0.170%	$170K	$1.9M	20x	as long as short