Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.042%

Price spread now: Lighter against Bybit+0.003%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$150.150% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.243%+$24 on $10k

Price spread, last 7 days−0.019%−$2 · spread now +0.003%, 7d avg −0.021%

Together, before fees+0.224%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.023% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	226.77	0	get 0.0000% / 8h	2h 12m	$12.5M	$15.0M	100x
Short	Lighter NVDA	226.78	0.0064	get 0.0008% / 1h	12m 42s	$2.1M	$3.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.003%Rate

Funding earned: $13.44
Price spread: +0.003% → −0.021%: $2.34
Slippage, 4 orders: −$4.01
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $0.77
Costs to cover: 0.150%
Break-even: 6.6 days

Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 5 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 Bybit live order book, 1 min ago	0.22 bp	6.1 bp −$6	8.7 bp −$87	52.6 bp −$5,263	doesn't fit
Sell Lighter live order book, 5 min ago	0.26 bp	1.3 bp −$1	2.0 bp −$20	11.6 bp −$1,158	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
Hotstuff NVDA-PERP	−0.0016%	1h	226.52	−0.110%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.64	−0.059%	$482K	$571K	20x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	226.77	long leg	$12.5M	$15.0M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.79	+0.009%	$14.3M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.71	−0.026%	$7.3M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.79	+0.009%	$15.3M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.59	−0.078%	$21K	$417K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.44	−0.146%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.47	−0.132%	$198K	$458K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.74	−0.013%	$2.2M	$42K	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	+0.0006%	8h	226.54	−0.102%	$3.6M	$2.1M	—	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	226.40	−0.161%	$117K	$52K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.57	−0.088%	$398K	$734K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.67	−0.044%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.76	−0.004%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.65	−0.053%	$147.2M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.63	−0.062%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.56	−0.093%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.38	−0.172%	$1.6M	$2.0M	15x	as long as short
Lighter NVDAshort	+0.0064%	1h	226.78	+0.003%	$2.1M	$3.4M	20x
Binance NVDAUSDT	+0.0081%	8h	226.81	+0.016%	$154.6M	$218.7M	50x	as long as short
Nado NVDA-PERP	+0.0081%	1h	226.57	−0.088%	$482K	$227K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.60	−0.075%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.65	−0.053%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.42	−0.154%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.67	−0.044%	$36K	$21K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0103%	1h	226.64	−0.057%	$53K	$1.8M	10x	as long as short
Lighter RH NVDA	+0.0104%	1h	226.90	+0.057%	$5.1M	$7.1M	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.70	−0.031%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.58	−0.084%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.29	−0.212%	$1.3M	$789K	10x	as long as short
BloFin NVDA-USDT	+0.0200%	8h	226.74	−0.013%	$713K	$193K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.88	+0.049%	$73K	$139	30x	as long as short
Extended NVDA_24_5-USD	+0.0360%	1h	226.56	−0.095%	$668K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0830%	4h	226.55	−0.098%	$170K	$1.9M	20x	as long as short