Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0888%/8h= −97.2% APRpaid last 24h −0.081%

Price spread now: Phoenix against edgeX−0.023%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$340.339% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.688%−$69 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.023%, 7d avg −0.019%

Together, before fees−0.725%+ Points / potential airdropedgeX: Active · farm board−$72 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$27 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NVDAUSDC	227.68	0.0993	pay 0.0497% / 4h	1h 37m	$170K	$1.9M	20x
Short	Phoenix NVDA	227.63	0.0105	get 0.0013% / 1h	37m 31s	$94K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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 edgeXbpFee PhoenixbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$186.43
Price spread: −0.023% → −0.019%: −$0.49
Slippage, 4 orders: −$17.88
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$220.81
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from edgeX: live order book, 1 min ago; Phoenix: live order book, 18 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 edgeX live order book, 1 min ago	3.51 bp	8.4 bp −$8	12.6 bp −$126	doesn't fit	doesn't fit
Sell Phoenix live order book, 18 min ago	2.63 bp	8.6 bp −$9	18.2 bp −$182	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
Hotstuff NVDA-PERP	−0.0024%	1h	227.57	−0.050%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.75	+0.029%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.74	+0.025%	$14.4M	$20.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.67	−0.006%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.78	+0.042%	$15.5M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.72	+0.016%	$20K	$384K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.29	−0.173%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.034%	$198K	$479K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.77	+0.038%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0005%	8h	227.74	+0.026%	$484K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0011%	1h	227.53	−0.067%	$118K	$54K	10x	as long as short
Variational Omni NVDA	+0.0027%	8h	227.69	+0.003%	$3.5M	$2.0M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.72	+0.016%	$406K	$711K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.72	+0.016%	$1.4M	$9.7M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.80	+0.051%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.60	−0.037%	$148.1M	$44.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.68	−0.001%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.58	−0.045%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.52	−0.072%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.098%	$1.3M	$776K	10x	as long as short
Binance NVDAUSDT	+0.0090%	8h	227.79	+0.047%	$156.3M	$215.1M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.54	−0.063%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.56	−0.054%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.68	−0.001%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.72	+0.018%	—	—	10x	as long as short
Phoenix NVDAshort	+0.0105%	1h	227.63	−0.023%	$94K	$112K	20x
Nado NVDA-PERP	+0.0116%	1h	227.57	−0.051%	$484K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0131%	8h	227.74	+0.025%	$1.6M	$723K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.70	+0.009%	$2.2M	$3.2M	20x	as long as short
BloFin NVDA-USDT	+0.0208%	8h	227.72	+0.016%	$723K	$202K	20x	as long as short
Lighter RH NVDA	+0.0208%	1h	227.84	+0.069%	$5.1M	$7.0M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.96	+0.121%	$73K	$136	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0277%	1h	227.66	−0.010%	$49K	$1.6M	10x	as long as short
Extended NVDA_24_5-USD	+0.0288%	1h	227.50	−0.078%	$689K	$714K	10x	as long as short
edgeX NVDAUSDClong	+0.0993%	4h	227.68	long leg	$170K	$1.9M	20x