Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0013%/8h= −1.4% APRpaid last 24h −0.017%

Price spread now: Phemex against Aftermath Perps+0.101%50s7-day average +0.078% · you sell dearer than you buy

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−$880.879% of the position

Long on Aftermath Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.095%+$9 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now +0.101%, 7d avg +0.078%

Together, before fees+0.080%+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.023% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of +0.078%): +$2 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 5.7 days. Mind the row above: over the last 4 days funding on this pair paid +0.095%, so the current rate has only just turned against you. The two prices were read 50 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	Aftermath Perps NVDAUSD	226.49	0.0013	pay 0.0002% / 1h	20m 27s	$117K	$51K	10x
Short	Phemex NVDAUSDT	226.72	0	get 0.0000% / 4h	2h 20m	$2.2M	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aftermath Perps. 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 Aftermath PerpsbpFee PhemexbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$2.77
Price spread: +0.101% → +0.078%: $2.27
Slippage, 4 orders: −$66.94
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$88.44
Costs to cover: 0.879%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 31 min ago; Phemex: 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 Aftermath Perps live order book, 31 min ago	3.65 bp	14.2 bp −$14	26.9 bp −$269	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	1.10 bp	28.6 bp −$29	doesn't fit	doesn't fit	doesn't fit

NVDA on 35 exchanges

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	226.56	+0.031%	$12.7M	$15.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.56	+0.031%	$14.3M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.47	−0.009%	$7.2M	$9.5M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.61	+0.053%	$15.6M	$15.9M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.14	−0.155%	$2K	$3.4M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.43	−0.027%	$37K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.64	+0.066%	$198K	$400K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.72	+0.101%	$2.2M	$41K	10x
Aftermath Perps NVDAUSDlong	+0.0013%	1h	226.49	long leg	$117K	$51K	10x
Extended NVDA_24_5-USD	+0.0032%	1h	226.41	−0.036%	$619K	$924K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0040%	8h	226.64	+0.066%	$21K	$430K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.69	+0.088%	—	$74K	25x	as long as short
QFEX NVDA-USD	+0.0047%	1h	226.52	+0.013%	$1.3M	$9.0M	10x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.45	−0.018%	$147.7M	$45.0M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.47	−0.009%	$391K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.46	−0.014%	$59K	$17K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.30	−0.084%	$1.6M	$1.9M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	226.43	−0.027%	$35K	—	20x	as long as short
Aster NVDAUSDT	+0.0078%	8h	226.58	+0.039%	$484K	$565K	20x	as long as short
Lighter NVDA	+0.0080%	1h	226.49	−0.001%	$2.1M	$3.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.37	−0.054%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.55	+0.026%	$16K	$45K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.56	+0.031%	$36K	$19K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	226.57	+0.035%	$93K	$83K	20x	as long as short
Nado NVDA-PERP	+0.0113%	1h	226.43	−0.028%	$478K	$209K	20x	as long as short
Variational Omni NVDA	+0.0114%	8h	226.54	+0.021%	$3.3M	$2.4M	—	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.55	+0.027%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.45	−0.018%	$1.3M	$666K	10x	as long as short
KuCoin NVDAUSDTM	+0.0131%	8h	226.60	+0.048%	$1.6M	$1.2M	20x	as long as short
Binance NVDAUSDT	+0.0166%	8h	226.57	+0.034%	$155.3M	$223.4M	50x	as long as short
Lighter RH NVDA	+0.0176%	1h	226.65	+0.070%	$5.0M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.08	+0.260%	$73K	$138	30x	as long as short
Arcus NVDA-USD	+0.0225%	1h	226.51	+0.008%	$383K	$703K	20x	as long as short
edgeX NVDAUSDC	+0.0268%	4h	226.70	+0.094%	$170K	$1.9M	20x	as long as short
BloFin NVDA-USDT	+0.0287%	8h	226.60	+0.048%	$726K	$202K	20x	as long as short