NVO Funding Rate — Novo Nordisk tokenized stock perpetuals across 2 venues

Tokenized stock (xStock) perpetual · net of fees · updated every few minutes

NVO (Novo Nordisk) is a tokenized stock (a Backed.fi xStock) traded as a perpetual future. Perpia compares its annualized funding across venues and the best delta-neutral spread — the perp, its funding and the underlying share are three different things, so read the rate together with liquidity and the backtest below.

Live annualized NVO perpetual funding across all 2 venues Perpia tracks. Right now NVO funding is positive on 1 and negative on 0, ranging from +10.9% on KuCoin to +0.0% on Variational — a spread of 10.9%. The widest delta-neutral trade is long Variational / short KuCoin at 3.3% net APR.

venues

paying positive

10.9%

funding spread

Best NVO spread now

3.3%

net APR after fees

Long Variational→Short KuCoin

size depends on live venue depth — see the real cap in the scanner

NVO funding trend & liquidity

168h of history

10.9%

current gross APR

10.9%

24h average

10.9%

7-day average

$51K

open interest

$287K

24h volume

Averages are realized funding over the window shown. When the current rate sits near the 7-day average the spread is persistent; a current rate far above it is usually a short-lived spike.

NVO funding rate by venue

1 pairs scanned

Venue	Funding APR	Interval
KuCoin	+10.9%	8h
Variational	+0.0%	8h

Rates annualized; updated ~every few minutes from live venue data.

NVO arbitrage — 29-day backtest

long Variational · short KuCoin

7.3%

realized APR

+$59

net P&L on $10,000

0.79%

max drawdown

$10,000$10,059

29 days agostarting capital $10,000today

Over the last 29 days, holding long Variational / short KuCoin realized 7.3% APR — versus the 3.3% the live spread implies right now (equity $10,000 → $10,059). Funding drifts and decays, so realized returns rarely match the live headline — which is why size and holding window matter more than the top-line number.

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NVO funding — FAQ

Is NVO funding positive right now?

NVO perpetual funding is positive on 1 of 2 venues Perpia tracks. The highest is +10.9% on KuCoin; the lowest is +0.0% on Variational.

What is the best NVO funding arbitrage right now?

Go long Variational and short KuCoin for about 3.3% net APR after fees — the widest delta-neutral NVO spread Perpia currently sees.

Which exchange has the highest NVO funding rate?

KuCoin, at +10.9% annualized. Funding shifts continuously, so check the live table above before trading.

How NVO funding arbitrage works

Funding-rate arbitrage is delta-neutral: you go long the venue paying the most negative funding and short the one paying the most positive, so price moves cancel and you collect the spread. The catch is liquidity — a huge APR on a thin book caps at a few thousand dollars and often flips within hours. Perpia shows the max size after slippage and the realized backtest, so you filter instead of chasing the headline number.

Related tokenized stocks

See the full list on the tokenized stocks hub.

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