Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0203%/8h= −22.2% APRpaid last 24h −0.053%

Price spread now: Phemex against BloFin0.000%239s7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as 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−$750.750% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.308%−$31 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now 0.000%, 7d avg +0.018%

Together, before fees−0.284%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 239 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 45m	$723K	$204K	20x
Short	Phemex NVDAUSDT	227.78	0	get 0.0000% / 4h	2h 45m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$42.63
Price spread: 0.000% → +0.018%: −$1.77
Slippage, 4 orders: −$51
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$119.4
Costs to cover: 0.750%
Break-even: never at this rate

Slippage from BloFin: live order book, 21 min ago; Phemex: live order book, 3 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, 21 min ago	0.44 bp	6.4 bp −$6	7.1 bp −$71	14.1 bp −$1,411	doesn't fit
Sell Phemex live order book, 3 min ago	1.98 bp	27.6 bp −$28	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	227.76	−0.007%	$484K	$582K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.74	−0.018%	$12.7M	$15.2M	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	227.67	−0.048%	$7.2M	$9.5M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.77	−0.004%	$15.4M	$16.8M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.22	−0.246%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.77	−0.004%	$198K	$502K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.78	0.000%	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0014%	1h	227.57	−0.090%	$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	227.55	−0.101%	$693K	$708K	10x	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
Hotstuff NVDA-PERP	+0.0048%	1h	227.60	−0.079%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.60	−0.079%	$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	227.59	−0.083%	$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
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.140%	$1.3M	$794K	10x	as long as short
Nado NVDA-PERP	+0.0079%	1h	227.64	−0.062%	$484K	$230K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0082%	8h	227.75	−0.012%	$20K	$389K	10x	as long as short
Binance NVDAUSDT	+0.0083%	8h	227.75	−0.011%	$156.4M	$216.5M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.61	−0.076%	$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	227.65	−0.057%	$49K	$1.5M	10x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.72	−0.028%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.69	−0.040%	$94K	$112K	20x	as long as short
Lighter NVDA	+0.0128%	1h	227.75	−0.015%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0128%	1h	227.88	+0.044%	$5.1M	$7.0M	20x	as long as short
KuCoin NVDAUSDTM	+0.0138%	8h	227.77	−0.004%	$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