Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.037%

Price spread now: Phoenix against GRVT−0.216%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$21 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. Phoenix is 0.216% cheaper against GRVT than usual: you would sell low and buy high (spread −0.216% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 3.4 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.215% in total) that is about 7.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT NVDA_USDT_Perp	226.60	0	get 0.0000% / 8h	7h 13m	$21K	$430K	10x
Short	Phoenix NVDA	226.11	0.0212	get 0.0027% / 1h	13m 22s	$93K	$83K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.216%Rate

Funding earned: $44.57
Price spread: −0.216% → 0.000%: −$21.62
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $6.95
Costs to cover: 0.160%
Break-even: 5.9 days

Slippage unknown: GRVT: live order book, 19 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 19 min ago	1.33 bp	5.8 bp −$6	8.7 bp −$87	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	226.51	−0.040%	$12.6M	$14.9M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.53	−0.031%	$14.1M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.51	−0.040%	$7.2M	$10.0M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.60	0.000%	$15.7M	$16.0M	100x	as long as short
GRVT NVDA_USDT_Perplong	0.0000%	8h	226.60	long leg	$21K	$430K	10x
SunX NVDA-USDT	0.0000%	8h	226.42	−0.079%	$2K	$3.5M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.28	−0.141%	$198K	$436K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.77	+0.075%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0009%	1h	226.26	−0.148%	$117K	$51K	10x	as long as short
Lighter NVDA	+0.0032%	1h	226.52	−0.036%	$2.1M	$3.3M	20x	as long as short

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	226.42	−0.080%	$640K	$872K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.53	−0.031%	$392K	$739K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.73	+0.057%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.41	−0.084%	$147.4M	$44.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.52	−0.035%	$391K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.46	−0.062%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.39	−0.093%	$1.6M	$1.9M	15x	as long as short
Aster NVDAUSDT	+0.0069%	8h	226.51	−0.040%	$484K	$544K	20x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.58	−0.009%	$1.3M	$9.1M	10x	as long as short
Nado NVDA-PERP	+0.0073%	1h	226.47	−0.057%	$481K	$221K	20x	as long as short
Lighter RH NVDA	+0.0080%	1h	226.67	+0.031%	$5.1M	$7.2M	20x	as long as short
Hotstuff NVDA-PERP	+0.0080%	1h	226.43	−0.075%	$35K	—	20x	as long as short
Variational Omni NVDA	+0.0098%	8h	226.63	+0.014%	$3.2M	$2.5M	—	as long as short
Pacifica NVDA	+0.0100%	1h	226.42	−0.079%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.48	−0.053%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.52	−0.035%	$36K	$20K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0103%	1h	226.57	−0.013%	$53K	$1.9M	10x	as long as short
KuCoin NVDAUSDTM	+0.0110%	8h	226.52	−0.035%	$1.6M	$1.0M	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.65	+0.024%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.17	−0.190%	$1.3M	$679K	10x	as long as short
Binance NVDAUSDT	+0.0155%	8h	226.57	−0.013%	$155.3M	$222.6M	50x	as long as short
edgeX NVDAUSDC	+0.0165%	4h	226.53	−0.031%	$171K	$1.9M	20x	as long as short
Phoenix NVDAshort	+0.0212%	1h	226.11	−0.216%	$93K	$83K	20x
Injective NVDA/USDC PERP	+0.0220%	1h	226.54	−0.026%	$73K	$138	30x	as long as short
BloFin NVDA-USDT	+0.0275%	8h	226.56	−0.018%	$715K	$200K	20x	as long as short