Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.011%

Price spread now: ApeX Omni against Variational Omni−0.038%88s7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding pays, the price is against you. ApeX Omni is 0.038% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.038% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 30 hours of funding at the current rate (+$3 a day). The two prices were read 88 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	Variational Omni NVDA	227.25	0	get 0.0000% / 8h	1h 46m	$3.5M	$2.3M	—
Short	ApeX Omni NVDAUSDT	227.16	0.0100	get 0.0013% / 1h	46m 00s	$16K	$43K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.038%Rate

Funding earned: $21
Price spread: −0.038% → 0.000%: −$3.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: $7.23
Costs to cover: 0.100%
Break-even: 4.6 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; ApeX Omni: 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 Variational Omni RFQ quote, 3 min ago	2.79 bp	doesn't fit	6.6 bp −$66	doesn't fit	doesn't fit
Sell ApeX Omni no order-book sample	—	—	—	—	—

ApeX Omni: 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	−0.082%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	227.19	−0.023%	$474K	$550K	20x	as long as short
Binance NVDAUSDT	0.0000%	8h	227.28	+0.015%	$156.2M	$220.6M	50x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.25	+0.002%	$12.6M	$15.7M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.21	−0.016%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.19	−0.025%	$7.2M	$9.5M	100x	as long as short
Variational Omni NVDAlong	0.0000%	8h	227.25	long leg	$3.5M	$2.3M	—
GRVT NVDA_USDT_Perp	0.0000%	8h	227.27	+0.011%	$20K	$452K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.84	−0.179%	$3K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.31	+0.028%	$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	227.25	+0.002%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0014%	1h	227.16	−0.039%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0023%	8h	227.23	−0.007%	$15.6M	$18.2M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.09	−0.067%	$522K	$409K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.20	−0.020%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.31	+0.028%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.07	−0.077%	$147.1M	$50.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.14	−0.047%	$390K	$281K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.08	−0.073%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.04	−0.091%	$1.6M	$2.1M	15x	as long as short
Nado NVDA-PERP	+0.0060%	1h	227.10	−0.063%	$487K	$225K	20x	as long as short
Phoenix NVDA	+0.0070%	1h	227.11	−0.060%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.23	−0.009%	—	—	10x	as long as short
Lighter RH NVDA	+0.0088%	1h	227.36	+0.050%	$4.9M	$7.0M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.104%	$1.3M	$911K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.07	−0.079%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.25	+0.002%	$1.6M	$754K	20x	as long as short
ApeX Omni NVDAUSDTshort	+0.0100%	1h	227.16	−0.038%	$16K	$43K	50x
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.20	−0.020%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0102%	1h	227.17	−0.033%	$49K	$1.5M	10x	as long as short
BloFin NVDA-USDT	+0.0120%	8h	227.27	+0.011%	$714K	$205K	20x	as long as short
Lighter NVDA	+0.0128%	1h	227.26	+0.005%	$2.1M	$3.2M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.63	+0.169%	$73K	$135	30x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.11	−0.060%	$388K	$709K	20x	as long as short
edgeX NVDAUSDC	+0.0498%	4h	227.24	−0.001%	$170K	$1.9M	20x	as long as short