Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.022%

Price spread now: Phoenix against Aster−0.044%95s7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.273% of the position

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.044%, 7d avg −0.026%

Together, before fees+0.113%+ Points / potential airdropAster: Stage 5 · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.026%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. The two prices were read 95 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	Aster NVDAUSDT	227.70	0.0045	pay 0.0045% / 8h	4h 51m	$484K	$590K	20x
Short	Phoenix NVDA	227.60	0.0141	get 0.0018% / 1h	51m 46s	$94K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.044%Rate

Funding earned: $20.15
Price spread: −0.044% → −0.026%: −$1.83
Slippage, 4 orders: −$12.35
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$9.03
Costs to cover: 0.273%
Break-even: 10.1 days

Slippage from Aster: live order book, 6 min ago; Phoenix: live order book, 64 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, 6 min ago	0.44 bp	5.7 bp −$6	8.9 bp −$89	doesn't fit	doesn't fit
Sell Phoenix live order book, 64 min ago	2.63 bp	8.6 bp −$9	18.2 bp −$182	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	227.63	−0.031%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.64	−0.027%	$14.4M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.59	−0.049%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.67	−0.014%	$15.5M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.32	−0.167%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.77	+0.030%	$198K	$473K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.80	+0.043%	$2.2M	$43K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0019%	1h	227.58	−0.055%	$118K	$54K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.67	−0.014%	$406K	$744K	20x	as long as short
Aster NVDAUSDTlong	+0.0045%	8h	227.70	long leg	$484K	$590K	20x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NVDA-USD-PERP	+0.0046%	1h	227.77	+0.030%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.55	−0.066%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.49	−0.093%	$1.6M	$2.0M	15x	as long as short
tradeXYZ xyz:NVDA	+0.0052%	1h	227.46	−0.106%	$147.9M	$43.7M	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0054%	8h	227.70	−0.001%	$20K	$386K	10x	as long as short
QFEX NVDA-USD	+0.0057%	1h	227.74	+0.017%	$1.4M	$9.4M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	227.56	−0.062%	$35K	—	20x	as long as short
Variational Omni NVDA	+0.0068%	8h	227.71	+0.003%	$3.6M	$2.1M	—	as long as short
Polymarket Perps NVDA-USD	+0.0098%	1h	227.69	−0.005%	$402K	$276K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.54	−0.071%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.49	−0.093%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.70	−0.001%	$36K	$22K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0104%	1h	227.53	−0.075%	$1.3M	$775K	10x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	227.70	+0.001%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0129%	8h	227.67	−0.014%	$156.6M	$215.9M	50x	as long as short
Phoenix NVDAshort	+0.0141%	1h	227.60	−0.044%	$94K	$112K	20x
KuCoin NVDAUSDTM	+0.0157%	8h	227.72	+0.008%	$1.6M	$726K	20x	as long as short
Nado NVDA-PERP	+0.0191%	1h	227.55	−0.066%	$484K	$228K	20x	as long as short
Lighter NVDA	+0.0200%	1h	227.65	−0.023%	$2.1M	$3.3M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.02	+0.140%	$73K	$134	30x	as long as short
BloFin NVDA-USDT	+0.0247%	8h	227.75	+0.021%	$724K	$201K	20x	as long as short
Lighter RH NVDA	+0.0264%	1h	227.80	+0.043%	$5.1M	$7.0M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0365%	1h	227.64	−0.027%	$49K	$1.6M	10x	as long as short
edgeX NVDAUSDC	+0.0422%	4h	227.74	+0.016%	$171K	$1.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0536%	1h	227.44	−0.115%	$686K	$733K	10x	as long as short