NVDA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h −0.005%

Price spread now: Phoenix against Deribit−0.048%70s7-day average +0.006% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.333% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.059%−$6 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.048%, 7d avg +0.006%

Together, before fees+0.008%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.054% cheaper against Deribit than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of +0.006%). If the spread goes back, that is −$5 on $10k: about 47 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 5 days funding on this pair cost −0.059%, so the current rate has only just turned in your favour. The two prices were read 70 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	Deribit NVDA_USDC-PERPETUAL	227.85	0.0013	pay 0.0002% / 1h	9m 59s	$49K	$1.5M	10x
Short	Phoenix NVDA	227.74	0.0106	get 0.0013% / 1h	9m 59s	$94K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.048%Rate

Funding earned: $19.35
Price spread: −0.048% → +0.006%: −$5.43
Slippage, 4 orders: −$19.26
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$19.33
Costs to cover: 0.333%
Break-even: 14.0 days

Slippage from Deribit: live order book, 4 min ago; Phoenix: live order book, 55 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, 4 min ago	3.29 bp	7.2 bp −$7	8.7 bp −$87	doesn't fit	doesn't fit
Sell Phoenix live order book, 55 min ago	3.08 bp	9.4 bp −$9	20.8 bp −$208	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	227.73	−0.051%	$483K	$581K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.92	+0.031%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.89	+0.018%	$14.4M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.83	−0.009%	$7.2M	$9.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.53	−0.140%	$3K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.96	+0.048%	$198K	$509K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.93	+0.035%	$2.2M	$43K	10x	as long as short
Variational Omni NVDA	+0.0004%	8h	227.82	−0.014%	$3.5M	$1.9M	—	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.71	−0.062%	$118K	$55K	10x	as long as short
Deribit NVDA_USDC-PERPETUALlong	+0.0013%	1h	227.85	long leg	$49K	$1.5M	10x

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	227.74	−0.050%	$524K	$469K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.72	−0.057%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.87	+0.009%	$1.6M	$11.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	228.01	+0.070%	—	$74K	25x	as long as short
Bitget NVDAUSDT	+0.0046%	8h	227.97	+0.053%	$15.5M	$16.9M	100x	as long as short
Hotstuff NVDA-PERP	+0.0048%	1h	227.77	−0.035%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.78	−0.031%	$147.9M	$46.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.85	0.000%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.75	−0.044%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.69	−0.070%	$1.5M	$2.1M	15x	as long as short
Binance NVDAUSDT	+0.0074%	8h	227.94	+0.042%	$156.5M	$217.3M	50x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.171%	$1.3M	$800K	10x	as long as short
Nado NVDA-PERP	+0.0086%	1h	227.80	−0.023%	$484K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0096%	1h	227.89	+0.019%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.75	−0.044%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.71	−0.061%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.91	+0.026%	$36K	$22K	20x	as long as short
Phoenix NVDAshort	+0.0106%	1h	227.74	−0.048%	$94K	$112K	20x
KuCoin NVDAUSDTM	+0.0141%	8h	227.91	+0.026%	$1.6M	$735K	20x	as long as short
Lighter NVDA	+0.0152%	1h	227.96	+0.049%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0152%	1h	228.09	+0.105%	$5.1M	$7.1M	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0165%	8h	227.94	+0.039%	$20K	$392K	10x	as long as short
BloFin NVDA-USDT	+0.0194%	8h	227.85	0.000%	$717K	$206K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.36	+0.224%	$73K	$139	30x	as long as short
edgeX NVDAUSDC	+0.0997%	4h	227.90	+0.024%	$170K	$1.9M	20x	as long as short