Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.049%

Price spread now: Phemex against Deribit+0.133%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$86as in the Price arb table

costs, in and out, $10k−$930.934% of the position

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.191%−$19 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.133%, 7d avg +0.055%

Together, before fees−0.287%−$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.077% dearer against Deribit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit NVDA_USDC-PERPETUAL	226.20	0	get 0.0000% / 1h	38m 43s	$53K	$1.9M	10x
Short	Phemex NVDAUSDT	226.50	0	get 0.0000% / 4h	3h 38m	$2.2M	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Deribit. 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 DeribitbpFee PhemexbpOrdersPrice spread, now +0.133%Rate

Funding earned: $0
Price spread: +0.133% → +0.055%: $7.73
Slippage, 4 orders: −$74.41
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$85.69
Costs to cover: 0.934%
Break-even: never at this rate

Slippage from Deribit: live order book, just now; Phemex: 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 Deribit live order book, just now	3.32 bp	7.2 bp −$7	7.6 bp −$76	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	0.88 bp	41.8 bp −$42	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
Bybit NVDAUSDT	0.0000%	8h	226.20	0.000%	$12.5M	$14.6M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.22	+0.009%	$14.1M	$20.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.20	0.000%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.27	+0.031%	$15.8M	$16.2M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.33	+0.057%	$21K	$428K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.96	−0.106%	$2K	$3.5M	20x	as long as short
Deribit NVDA_USDC-PERPETUALlong	0.0000%	1h	226.20	long leg	$53K	$1.9M	10x
HTX NVDA-USDT	0.0000%	8h	226.31	+0.049%	$198K	$437K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.50	+0.133%	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0011%	1h	226.05	−0.068%	$117K	$52K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter NVDA	+0.0032%	1h	226.20	−0.001%	$2.1M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0032%	1h	226.37	+0.075%	$5.1M	$7.0M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	226.14	−0.027%	$644K	$872K	10x	as long as short
Hotstuff NVDA-PERP	+0.0032%	1h	226.08	−0.053%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.30	+0.044%	$392K	$736K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.39	+0.084%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.10	−0.044%	$146.9M	$43.0M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.19	−0.004%	$391K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.12	−0.035%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.09	−0.049%	$1.6M	$1.9M	15x	as long as short
Nado NVDA-PERP	+0.0058%	1h	226.26	+0.027%	$481K	$222K	20x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.28	+0.035%	$1.3M	$9.0M	10x	as long as short
Aster NVDAUSDT	+0.0075%	8h	226.26	+0.029%	$481K	$538K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.11	−0.042%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.11	−0.040%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.27	+0.031%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0103%	8h	226.23	+0.012%	$3.2M	$2.5M	—	as long as short
KuCoin NVDAUSDTM	+0.0105%	8h	226.27	+0.031%	$1.6M	$935K	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.29	+0.040%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.29	+0.040%	$1.3M	$687K	10x	as long as short
Binance NVDAUSDT	+0.0160%	8h	226.26	+0.028%	$155.0M	$220.9M	50x	as long as short
Phoenix NVDA	+0.0212%	1h	226.25	+0.022%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.97	+0.340%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0281%	8h	226.27	+0.031%	$710K	$197K	20x	as long as short
edgeX NVDAUSDC	+0.0963%	4h	226.23	+0.012%	$171K	$1.9M	20x	as long as short