Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0075%/8h= −8.2% APRpaid last 24h −0.010%

Price spread now: Lighter against BloFin−0.026%330s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as 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−$140.141% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 3 days (all we have)+0.082%+$8 · spread now −0.026%, 7d avg −0.006%

Together, before fees+0.073%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.020% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.006%). Swap the legs. The two prices were read 330 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	BloFin NVDA-USDT	227.78	0.0203	pay 0.0203% / 8h	6h 43m	$723K	$204K	20x
Short	Lighter NVDA	227.72	0.0128	get 0.0016% / 1h	43m 28s	$2.2M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$15.75
Price spread: −0.026% → −0.006%: −$2.04
Slippage, 4 orders: −$2.06
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$31.86
Costs to cover: 0.141%
Break-even: never at this rate

Slippage from BloFin: live order book, 23 min ago; Lighter: live order book, 9 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 BloFin live order book, 23 min ago	0.44 bp	6.4 bp −$6	7.1 bp −$71	14.1 bp −$1,411	doesn't fit
Sell Lighter live order book, 9 min ago	0.02 bp	0.4 bp $0	1.2 bp −$12	12.5 bp −$1,251	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	227.73	−0.021%	$484K	$581K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.73	−0.022%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.73	−0.022%	$14.4M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.66	−0.053%	$7.2M	$9.5M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.77	−0.004%	$15.4M	$16.6M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.24	−0.237%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.79	+0.004%	$198K	$502K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.82	+0.018%	$2.2M	$43K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.59	−0.083%	$118K	$54K	10x	as long as short
Variational Omni NVDA	+0.0016%	8h	227.73	−0.022%	$3.5M	$1.9M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.54	−0.105%	$693K	$708K	10x	as long as short
Hotstuff NVDA-PERP	+0.0040%	1h	227.59	−0.083%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.58	−0.088%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.74	−0.018%	$1.5M	$10.3M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.83	+0.022%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.58	−0.088%	$148.0M	$45.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.72	−0.026%	$402K	$285K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.61	−0.075%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.55	−0.101%	$1.5M	$2.1M	15x	as long as short
GRVT NVDA_USDT_Perp	+0.0066%	8h	227.73	−0.023%	$20K	$388K	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.140%	$1.3M	$789K	10x	as long as short
Nado NVDA-PERP	+0.0081%	1h	227.59	−0.085%	$484K	$230K	20x	as long as short
Binance NVDAUSDT	+0.0083%	8h	227.74	−0.018%	$156.3M	$216.4M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.58	−0.089%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.57	−0.092%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.72	−0.026%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0102%	1h	227.66	−0.053%	$49K	$1.5M	10x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.74	−0.018%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.61	−0.075%	$94K	$112K	20x	as long as short
Lighter NVDAshort	+0.0128%	1h	227.72	−0.026%	$2.2M	$3.2M	20x
Lighter RH NVDA	+0.0128%	1h	227.85	+0.031%	$5.1M	$7.0M	20x	as long as short
KuCoin NVDAUSDTM	+0.0138%	8h	227.75	−0.013%	$1.6M	$737K	20x	as long as short
BloFin NVDA-USDTlong	+0.0203%	8h	227.78	long leg	$723K	$204K	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.96	+0.079%	$73K	$135	30x	as long as short
edgeX NVDAUSDC	+0.0713%	4h	227.68	−0.042%	$170K	$1.9M	20x	as long as short