Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against Bybit+0.040%53s7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as 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−$880.884% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.065%−$7 · spread now +0.040%, 7d avg +0.031%

Together, before fees−0.101%−$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	227.23	0	get 0.0000% / 8h	4h 48m	$12.5M	$16.5M	100x
Short	Phemex NVDAUSDT	227.32	0	get 0.0000% / 4h	48m 19s	$2.2M	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → +0.031%: $0.86
Slippage, 4 orders: −$65.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$87.59
Costs to cover: 0.884%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.22 bp	7.2 bp −$7	9.2 bp −$92	28.1 bp −$2,809	doesn't fit
Sell Phemex live order book, 3 min ago	1.54 bp	31.0 bp −$31	doesn't fit	doesn't fit	doesn't fit

NVDA on 35 exchanges

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	−0.1600%	1h	227.26	+0.013%	$35K	—	20x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	227.23	long leg	$12.5M	$16.5M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	227.24	+0.004%	$14.6M	$21.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.15	−0.035%	$7.2M	$9.1M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.28	+0.022%	$15.6M	$15.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.80	−0.189%	$2K	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.10	−0.057%	$16K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.12	−0.048%	$198K	$399K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.32	+0.040%	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0016%	1h	227.17	−0.026%	$117K	$51K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.06	−0.073%	$608K	$930K	10x	as long as short
QFEX NVDA-USD	+0.0038%	1h	227.20	−0.013%	$1.3M	$9.0M	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0043%	8h	227.36	+0.057%	$20K	$418K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.35	+0.053%	—	$74K	25x	as long as short
Lighter NVDA	+0.0048%	1h	227.19	−0.015%	$2.1M	$3.1M	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.09	−0.062%	$149.2M	$44.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.14	−0.040%	$395K	$257K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.07	−0.070%	$59K	$16K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.01	−0.097%	$1.5M	$1.9M	15x	as long as short
Aster NVDAUSDT	+0.0051%	8h	227.24	+0.004%	$483K	$565K	20x	as long as short
Arcus NVDA-USD	+0.0083%	1h	227.14	−0.040%	$383K	$721K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.10	−0.059%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.18	−0.022%	$16K	$45K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.19	−0.018%	$36K	$19K	20x	as long as short
Nado NVDA-PERP	+0.0119%	1h	227.14	−0.041%	$478K	$199K	20x	as long as short
edgeX NVDAUSDC	+0.0124%	4h	227.32	+0.039%	$171K	$2.0M	20x	as long as short
Aevo NVDA-PERP	+0.0128%	1h	227.15	−0.034%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.00	−0.101%	$1.3M	$676K	10x	as long as short
Variational Omni NVDA	+0.0137%	8h	227.30	+0.033%	$3.3M	$2.4M	—	as long as short
KuCoin NVDAUSDTM	+0.0153%	8h	227.30	+0.031%	$1.6M	$1.6M	20x	as long as short
Lighter RH NVDA	+0.0168%	1h	227.38	+0.066%	$5.3M	$7.1M	20x	as long as short
Phoenix NVDA	+0.0176%	1h	227.31	+0.035%	$93K	$83K	20x	as long as short
Binance NVDAUSDT	+0.0186%	8h	227.22	−0.004%	$155.2M	$226.0M	50x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.54	+0.136%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0307%	8h	227.14	−0.040%	$747K	$204K	20x	as long as short