Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0168%/8h= +18.4% APRpaid last 24h +0.039%

Price spread now: Lighter RH against GRVT−0.010%49s7-day average +0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs+$6as 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−$150.146% of the position

Long on GRVT Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.010%, 7d avg +0.057%

Together, before fees+0.266%+ Points / potential airdropGRVT: Active · Lighter RH: Points live · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.067% cheaper against GRVT than usual: you would sell low and buy high (spread −0.010% now, against its 7-day average of +0.057%). If the spread goes back, that is −$7 on $10k: about 32 hours of funding at the current rate (+$5 a day). The two prices were read 49 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	GRVT NVDA_USDT_Perp	226.55	0	get 0.0000% / 8h	1h 54m	$21K	$416K	10x
Short	Lighter RH NVDA	226.53	0.0168	get 0.0021% / 1h	54m 44s	$5.0M	$6.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against GRVT. 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 GRVTbpFee Lighter RHbpOrdersPrice spread, now −0.010%Rate

Funding earned: $35.28
Price spread: −0.010% → +0.057%: −$6.71
Slippage, 4 orders: −$5.61
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $13.96
Costs to cover: 0.146%
Break-even: 4.2 days

Slippage from GRVT: live order book, 53 min ago; Lighter RH: live order book, 4 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 GRVT live order book, 53 min ago	1.10 bp	5.6 bp −$6	7.9 bp −$79	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.88 bp	0.9 bp −$1	3.5 bp −$35	31.2 bp −$3,118	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	226.47	−0.038%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.41	−0.063%	$12.4M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.42	−0.059%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.42	−0.059%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.46	−0.041%	$15.2M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perplong	0.0000%	8h	226.55	long leg	$21K	$416K	10x
SunX NVDA-USDT	0.0000%	8h	226.12	−0.191%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.72	+0.074%	$198K	$455K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.65	+0.043%	$2.2M	$42K	10x	as long as short
Variational Omni NVDA	+0.0012%	8h	226.43	−0.056%	$3.6M	$2.1M	—	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	+0.0012%	1h	226.39	−0.070%	$117K	$52K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.47	−0.037%	$398K	$734K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.54	−0.006%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.27	−0.125%	$147.0M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.39	−0.072%	$398K	$279K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.30	−0.112%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.48	−0.032%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.40	−0.067%	$1.3M	$9.1M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	226.50	−0.023%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0084%	8h	226.43	−0.054%	$154.3M	$219.1M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.30	−0.112%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.48	−0.032%	$1.6M	$746K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.34	−0.094%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.44	−0.050%	$36K	$21K	20x	as long as short
Lighter NVDA	+0.0104%	1h	226.39	−0.071%	$2.1M	$3.3M	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.45	−0.047%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.58	+0.012%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.116%	$1.3M	$789K	10x	as long as short
Nado NVDA-PERP	+0.0150%	1h	226.27	−0.126%	$481K	$226K	20x	as long as short
Lighter RH NVDAshort	+0.0168%	1h	226.53	−0.010%	$5.0M	$6.9M	20x
BloFin NVDA-USDT	+0.0204%	8h	226.45	−0.045%	$714K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.74	+0.083%	$73K	$136	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0236%	1h	226.41	−0.063%	$52K	$1.8M	10x	as long as short
edgeX NVDAUSDC	+0.0318%	4h	226.63	+0.034%	$170K	$1.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0408%	1h	226.31	−0.109%	$668K	$767K	10x	as long as short