Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.023%

Price spread now: Lighter against Aster−0.028%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$120.116% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now −0.028%, 7d avg −0.005%

Together, before fees+0.125%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.023% cheaper against Aster than usual: you would sell low and buy high (spread −0.028% now, against its 7-day average of −0.005%). If the spread goes back, that is −$2 on $10k: about 21 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NVDAUSDT	226.36	0.0001	pay 0.0001% / 8h	1h 35m	$482K	$571K	20x
Short	Lighter NVDA	226.30	0.0088	get 0.0011% / 1h	35m 35s	$2.1M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.028%Rate

Funding earned: $18.2
Price spread: −0.028% → −0.005%: −$2.33
Slippage, 4 orders: −$3.59
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $4.28
Costs to cover: 0.116%
Break-even: 5.4 days

Slippage from Aster: live order book, 7 min ago; Lighter: live order book, 7 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 Aster live order book, 7 min ago	0.22 bp	4.2 bp −$4	7.9 bp −$79	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.40 bp	0.7 bp −$1	1.1 bp −$11	7.4 bp −$737	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	226.34	−0.011%	$12.4M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.29	−0.033%	$14.1M	$20.7M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.27	−0.042%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.35	−0.006%	$15.2M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.40	+0.016%	$22K	$422K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.04	−0.143%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.46	+0.042%	$198K	$453K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.73	+0.162%	$2.2M	$42K	10x	as long as short
Aster NVDAUSDTlong	+0.0001%	8h	226.36	long leg	$482K	$571K	20x
Aftermath Perps NVDAUSD	+0.0017%	1h	226.22	−0.063%	$117K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0018%	8h	226.38	+0.005%	$3.5M	$2.2M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.30	−0.028%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.42	+0.025%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.17	−0.086%	$146.9M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.26	−0.046%	$395K	$281K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.26	−0.046%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.13	−0.103%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.33	−0.015%	$1.3M	$9.1M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	226.20	−0.073%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0088%	8h	226.32	−0.020%	$154.3M	$219.4M	50x	as long as short
Lighter NVDAshort	+0.0088%	1h	226.30	−0.028%	$2.1M	$3.3M	20x
Pacifica NVDA	+0.0100%	1h	226.19	−0.077%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.35	−0.006%	$1.6M	$749K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.25	−0.050%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.35	−0.006%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.38	+0.006%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.19	−0.077%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.033%	$1.3M	$789K	10x	as long as short
Lighter RH NVDA	+0.0136%	1h	226.43	+0.029%	$5.0M	$6.9M	20x	as long as short
Nado NVDA-PERP	+0.0141%	1h	226.19	−0.078%	$480K	$226K	20x	as long as short
BloFin NVDA-USDT	+0.0208%	8h	226.44	+0.033%	$715K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.01	+0.285%	$73K	$137	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0236%	1h	226.32	−0.020%	$52K	$1.8M	10x	as long as short
Extended NVDA_24_5-USD	+0.0464%	1h	226.16	−0.090%	$667K	$762K	10x	as long as short
edgeX NVDAUSDC	+0.0491%	4h	226.35	−0.008%	$170K	$1.9M	20x	as long as short