Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.013%

Price spread now: Bybit against QFEX−0.004%7-day average +0.036% · 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−$30as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.004%, 7d avg +0.036%

Together, before fees+0.025%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.041% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NVDA-USD	226.38	0.0064	pay 0.0008% / 1h	36m 52s	$1.3M	$9.0M	10x
Short	Bybit NVDAUSDT	226.37	0	get 0.0000% / 8h	36m 52s	$12.4M	$14.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$13.49
Price spread: −0.004% → +0.036%: −$4.08
Slippage, 4 orders: −$5.21
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.79
Costs to cover: 0.262%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; Bybit: live order book, 1 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 QFEX live order book, 7 min ago	1.55 bp	6.5 bp −$7	8.2 bp −$82	12.9 bp −$1,288	doesn't fit
Sell Bybit live order book, 1 min ago	0.22 bp	6.8 bp −$7	9.7 bp −$97	54.3 bp −$5,429	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 NVDAUSDTshort	0.0000%	8h	226.37	−0.004%	$12.4M	$14.3M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.35	−0.013%	$14.1M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.30	−0.035%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.43	+0.022%	$15.8M	$16.6M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.96	−0.186%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.44	+0.027%	$198K	$445K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.61	+0.102%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0018%	1h	226.17	−0.091%	$117K	$51K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0021%	8h	226.37	−0.006%	$22K	$428K	10x	as long as short
Aster NVDAUSDT	+0.0036%	8h	226.37	−0.004%	$482K	$530K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NVDA-USD	+0.0040%	1h	226.31	−0.031%	$392K	$740K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.46	+0.035%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.24	−0.062%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.24	−0.062%	$1.6M	$1.9M	15x	as long as short
Variational Omni NVDA	+0.0057%	8h	226.39	+0.005%	$3.5M	$2.3M	—	as long as short
QFEX NVDA-USDlong	+0.0064%	1h	226.38	long leg	$1.3M	$9.0M	10x
tradeXYZ xyz:NVDA	+0.0092%	1h	226.24	−0.062%	$147.0M	$43.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0096%	1h	226.33	−0.022%	$391K	$247K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	226.21	−0.076%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.39	+0.004%	$1.6M	$744K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.19	−0.084%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.32	−0.027%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	226.36	−0.010%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.128%	$1.3M	$699K	10x	as long as short
Binance NVDAUSDT	+0.0122%	8h	226.37	−0.004%	$154.4M	$218.5M	50x	as long as short
Hotstuff NVDA-PERP	+0.0160%	1h	226.25	−0.057%	$35K	—	20x	as long as short
Phoenix NVDA	+0.0177%	1h	226.20	−0.080%	$93K	$83K	20x	as long as short
Nado NVDA-PERP	+0.0180%	1h	226.17	−0.093%	$480K	$223K	20x	as long as short
Lighter NVDA	+0.0184%	1h	226.33	−0.024%	$2.1M	$3.2M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.00	+0.274%	$73K	$137	30x	as long as short
Lighter RH NVDA	+0.0240%	1h	226.48	+0.044%	$5.1M	$6.9M	20x	as long as short
BloFin NVDA-USDT	+0.0242%	8h	226.38	0.000%	$709K	$195K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0325%	1h	226.30	−0.035%	$53K	$1.8M	10x	as long as short
Extended NVDA_24_5-USD	+0.0344%	1h	226.19	−0.084%	$644K	$875K	10x	as long as short
edgeX NVDAUSDC	+0.0527%	4h	226.32	−0.025%	$170K	$1.9M	20x	as long as short