Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0066%/8h= +7.3% APRpaid last 24h +0.029%

Price spread now: KuCoin against QFEX−0.004%56s7-day average +0.045% · 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−$630.635% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.126%+$13 on $10k

Price spread, last 7 days+0.054%+$5 · spread now −0.004%, 7d avg +0.045%

Together, before fees+0.180%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.049% cheaper against QFEX than usual: you would sell low and buy high (spread −0.004% now, against its 7-day average of +0.045%). If the spread goes back, that is −$5 on $10k: about 2.5 days of funding at the current rate (+$2 a day). The two prices were read 56 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	QFEX NVDA-USD	227.29	0.0041	pay 0.0005% / 1h	40m 38s	$1.3M	$9.1M	10x
Short	KuCoin NVDAUSDTM	227.28	0.0107	get 0.0107% / 8h	3h 40m	$1.6M	$727K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.004%Rate

Funding earned: $13.94
Price spread: −0.004% → +0.045%: −$4.93
Slippage, 4 orders: −$41.46
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$54.45
Costs to cover: 0.635%
Break-even: 34.4 days

Slippage from QFEX: live order book, 3 min ago; KuCoin: live order book, 5 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, 3 min ago	1.98 bp	7.0 bp −$7	8.0 bp −$80	13.3 bp −$1,329	doesn't fit
Sell KuCoin live order book, 5 min ago	0.66 bp	25.1 bp −$25	doesn't fit	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
Bybit NVDAUSDT	0.0000%	8h	227.25	−0.018%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.26	−0.013%	$14.3M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.24	−0.022%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.32	+0.013%	$15.4M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.44	+0.065%	$20K	$392K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.90	−0.172%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.52	+0.101%	$198K	$464K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.42	+0.057%	$2.2M	$43K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0011%	1h	227.24	−0.022%	$118K	$53K	10x	as long as short
Aster NVDAUSDT	+0.0018%	8h	227.26	−0.013%	$483K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff NVDA-PERP	+0.0024%	1h	227.19	−0.044%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.28	−0.004%	$399K	$741K	20x	as long as short
QFEX NVDA-USDlong	+0.0041%	1h	227.29	long leg	$1.3M	$9.1M	10x
Vest NVDA-USD-PERP	+0.0046%	1h	227.41	+0.053%	—	$74K	25x	as long as short
Variational Omni NVDA	+0.0047%	8h	227.28	−0.006%	$3.6M	$2.2M	—	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.12	−0.075%	$147.6M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.24	−0.022%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.16	−0.057%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.15	−0.062%	$1.6M	$2.0M	15x	as long as short
Lighter NVDA	+0.0064%	1h	227.23	−0.028%	$2.1M	$3.3M	20x	as long as short
Nado NVDA-PERP	+0.0064%	1h	227.21	−0.034%	$483K	$227K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.16	−0.058%	$298K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.25	−0.018%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.24	−0.022%	$36K	$21K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0102%	1h	227.19	−0.044%	$49K	$1.7M	10x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.28	−0.006%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0104%	8h	227.29	+0.001%	$155.9M	$215.9M	50x	as long as short
KuCoin NVDAUSDTMshort	+0.0107%	8h	227.28	−0.004%	$1.6M	$727K	20x
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.53	+0.106%	$1.3M	$775K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.27	−0.009%	$93K	$112K	20x	as long as short
Lighter RH NVDA	+0.0152%	1h	227.38	+0.040%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.83	+0.238%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0224%	8h	227.31	+0.009%	$719K	$201K	20x	as long as short
Extended NVDA_24_5-USD	+0.0232%	1h	227.06	−0.103%	$673K	$779K	10x	as long as short
edgeX NVDAUSDC	+0.0920%	4h	227.36	+0.032%	$170K	$1.9M	20x	as long as short