Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.029%

Price spread now: Phemex against Binance+0.004%52s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as 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−$790.792% of the position

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.201%−$20 on $10k

Price spread, last 2 days (all we have)−0.056%−$6 · spread now +0.004%, 7d avg +0.011%

Together, before fees−0.257%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. The two prices were read 52 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	Binance NVDAUSDT	227.52	0.0012	pay 0.0012% / 8h	1h 27m	$156.3M	$220.8M	50x
Short	Phemex NVDAUSDT	227.53	0	get 0.0000% / 4h	1h 27m	$2.2M	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Binance. 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 BinancebpFee PhemexbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$2.47
Price spread: +0.004% → +0.011%: −$0.7
Slippage, 4 orders: −$57.24
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$82.41
Costs to cover: 0.792%
Break-even: never at this rate

Slippage from Binance: live order book, 1 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 Binance live order book, 1 min ago	0.22 bp	5.2 bp −$5	5.8 bp −$58	16.8 bp −$1,678	doesn't fit
Sell Phemex live order book, 1 min ago	1.76 bp	33.9 bp −$34	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
Aster NVDAUSDT	0.0000%	8h	227.49	−0.013%	$474K	$578K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.49	−0.013%	$12.7M	$15.6M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.48	−0.018%	$14.4M	$21.2M	50x	as long as short
Hotstuff NVDA-PERP	0.0000%	1h	227.36	−0.070%	$35K	—	20x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.44	−0.035%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.46	−0.028%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.52	+0.002%	$20K	$435K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.06	−0.202%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.41	−0.048%	$202K	$521K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.53	+0.004%	$2.2M	$41K	10x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NVDAUSDTlong	+0.0012%	8h	227.52	long leg	$156.3M	$220.8M	50x
Aftermath Perps NVDAUSD	+0.0012%	1h	227.44	−0.036%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0024%	8h	227.52	0.000%	$15.6M	$17.8M	100x	as long as short
BloFin NVDA-USDT	+0.0030%	8h	227.48	−0.018%	$713K	$204K	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.31	−0.094%	$536K	$445K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.46	−0.026%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.55	+0.013%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.35	−0.075%	$147.3M	$49.7M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.39	−0.057%	$401K	$290K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.35	−0.075%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.37	−0.066%	$1.6M	$2.1M	15x	as long as short
Phoenix NVDA	+0.0070%	1h	227.34	−0.079%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.50	−0.008%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0090%	1h	227.37	−0.065%	$484K	$227K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.224%	$1.3M	$888K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.35	−0.075%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.51	−0.004%	$1.6M	$754K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.33	−0.084%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.49	−0.013%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0102%	1h	227.39	−0.057%	$49K	$1.5M	10x	as long as short
Lighter RH NVDA	+0.0152%	1h	227.65	+0.057%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0176%	1h	227.54	+0.008%	$2.1M	$3.3M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.08	+0.246%	$73K	$137	30x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.35	−0.075%	$400K	$723K	20x	as long as short
edgeX NVDAUSDC	+0.0745%	4h	227.50	−0.007%	$170K	$1.9M	20x	as long as short