Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Injective against Orderly+0.128%58s7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Injective

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 for this trade now. Funding pays +$4 a day on $10k at the current rate, and Injective is 0.128% dearer against Orderly than usual: you sell high and buy low: +$13 more if the spread goes back to zero (this spread has no 7-day history yet). 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	Orderly PERP_NVDA_USDC	227.44	0.0100	pay 0.0100% / 8h	45m 32s	$36K	$22K	20x
Short	Injective NVDA/USDC PERP	227.73	0.0220	get 0.0028% / 1h	45m 32s	$73K	$135	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Orderly. 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 OrderlybpFee InjectivebpOrdersPrice spread, now +0.128%Rate

Funding earned: $25.2
Price spread: +0.128% → 0.000%: $12.75
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $31.93
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Injective: 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 Orderly no order-book sample	—	—	—	—	—
Sell Injective no order-book sample	—	—	—	—	—

Orderly and Injective: 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
Aster NVDAUSDT	0.0000%	8h	227.42	−0.009%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.49	+0.022%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.53	+0.040%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.44	0.000%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.46	+0.007%	$3.5M	$2.1M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.48	+0.017%	$20K	$427K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.96	−0.211%	$3K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	+0.018%	$198K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.54	+0.044%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0030%	1h	227.46	+0.011%	$118K	$55K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NVDAUSDT	+0.0042%	8h	227.56	+0.053%	$156.4M	$220.2M	50x	as long as short
Bitget NVDAUSDT	+0.0044%	8h	227.55	+0.048%	$15.6M	$17.8M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.57	+0.057%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.40	−0.018%	$147.4M	$48.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.41	−0.013%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.32	−0.053%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.30	−0.062%	$1.6M	$2.1M	15x	as long as short
Extended NVDA_24_5-USD	+0.0056%	1h	227.35	−0.040%	$536K	$446K	10x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.51	+0.031%	$1.6M	$11.4M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	227.40	−0.018%	$35K	—	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.45	+0.006%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0095%	1h	227.34	−0.044%	$484K	$228K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.189%	$1.3M	$862K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.37	−0.031%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.51	+0.031%	$1.6M	$746K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	−0.062%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDClong	+0.0100%	8h	227.44	long leg	$36K	$22K	20x
Phoenix NVDA	+0.0106%	1h	227.34	−0.044%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.36	−0.035%	$400K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0160%	8h	227.48	+0.018%	$671K	$204K	20x	as long as short
edgeX NVDAUSDC	+0.0183%	4h	227.45	+0.003%	$170K	$1.9M	20x	as long as short
Injective NVDA/USDC PERPshort	+0.0220%	1h	227.73	+0.128%	$73K	$135	30x
Lighter RH NVDA	+0.0248%	1h	227.66	+0.097%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0256%	1h	227.54	+0.046%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0410%	1h	227.41	−0.013%	$49K	$1.4M	10x	as long as short