Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.027%

Price spread now: Phemex against Arcus+0.146%7-day average +0.111% · 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−$95as in the Price arb table

costs, in and out, $10k−$990.986% of the position

Long on Arcus Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.090%−$9 on $10k

Price spread, last 4 days (all we have)−0.263%−$26 · spread now +0.146%, 7d avg +0.111%

Together, before fees−0.353%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.035% dearer against Arcus than usual: you sell high and buy low (spread +0.146% now, against its 7-day average of +0.111%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus NVDA-USD	226.26	0.0040	pay 0.0005% / 1h	46m 19s	$392K	$736K	20x
Short	Phemex NVDAUSDT	226.59	0	get 0.0000% / 4h	3h 46m	$2.2M	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Arcus. 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 ArcusbpFee PhemexbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$8.46
Price spread: +0.146% → +0.111%: $3.48
Slippage, 4 orders: −$82.12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$103.6
Costs to cover: 0.986%
Break-even: never at this rate

Slippage from Arcus: live order book, 53 min ago; Phemex: live order book, 2 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 Arcus live order book, 53 min ago	1.33 bp	9.7 bp −$10	13.8 bp −$138	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	0.88 bp	37.5 bp −$37	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	226.29	+0.013%	$12.5M	$14.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.33	+0.031%	$14.1M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.27	+0.004%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.36	+0.044%	$15.8M	$16.3M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.07	−0.084%	$2K	$3.5M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.28	+0.009%	$53K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.45	+0.084%	$198K	$437K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.59	+0.146%	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0014%	1h	226.21	−0.023%	$117K	$51K	10x	as long as short
Lighter NVDA	+0.0032%	1h	226.22	−0.018%	$2.1M	$3.2M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH NVDA	+0.0032%	1h	226.38	+0.053%	$5.1M	$6.9M	20x	as long as short
Arcus NVDA-USDlong	+0.0040%	1h	226.26	long leg	$392K	$736K	20x
Vest NVDA-USD-PERP	+0.0046%	1h	226.47	+0.093%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.20	−0.027%	$146.9M	$43.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.14	−0.053%	$391K	$242K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.23	−0.013%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.11	−0.066%	$1.6M	$1.9M	15x	as long as short
Nado NVDA-PERP	+0.0054%	1h	226.19	−0.030%	$480K	$223K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0055%	8h	226.45	+0.084%	$21K	$428K	10x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.30	+0.018%	$1.3M	$9.1M	10x	as long as short
Aster NVDAUSDT	+0.0080%	8h	226.34	+0.037%	$482K	$538K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.16	−0.046%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.29	+0.013%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.30	+0.018%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0104%	8h	226.46	+0.087%	$3.3M	$2.5M	—	as long as short
Hotstuff NVDA-PERP	+0.0104%	1h	226.30	+0.018%	$35K	—	20x	as long as short
KuCoin NVDAUSDTM	+0.0109%	8h	226.32	+0.027%	$1.6M	$903K	20x	as long as short
Extended NVDA_24_5-USD	+0.0112%	1h	226.16	−0.042%	$644K	$879K	10x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.32	+0.025%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.29	+0.013%	$1.3M	$696K	10x	as long as short
Binance NVDAUSDT	+0.0166%	8h	226.34	+0.036%	$155.1M	$220.9M	50x	as long as short
Phoenix NVDA	+0.0212%	1h	226.19	−0.031%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.97	+0.314%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0286%	8h	226.36	+0.044%	$711K	$197K	20x	as long as short
edgeX NVDAUSDC	+0.0520%	4h	226.38	+0.055%	$171K	$1.9M	20x	as long as short