Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h +0.021%

Price spread now: Phemex against Hotstuff+0.079%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

The price spread pays, funding is against you. Phemex is 0.079% dearer against Hotstuff than usual: you sell high and buy low (spread +0.079% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff NVDA-PERP	227.46	0.0080	pay 0.0010% / 1h	31m 38s	$35K	—	20x
Short	Phemex NVDAUSDT	227.64	0	get 0.0000% / 4h	1h 31m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Hotstuff. 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 HotstuffbpFee PhemexbpOrdersPrice spread, now +0.079%Rate

Funding earned: −$16.8
Price spread: +0.079% → 0.000%: $7.91
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$25.89
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Phemex: live order book, 2 min ago. 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	0.66 bp	32.2 bp −$32	doesn't fit	doesn't fit	doesn't fit

Hotstuff: 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	227.61	+0.066%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.60	+0.062%	$14.4M	$20.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.55	+0.040%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.64	+0.079%	$15.5M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.68	+0.097%	$20K	$384K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.10	−0.158%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.132%	$198K	$479K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.64	+0.079%	$2.2M	$43K	10x
Aster NVDAUSDT	+0.0010%	8h	227.66	+0.087%	$483K	$590K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0011%	1h	227.49	+0.013%	$118K	$54K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0034%	8h	227.71	+0.110%	$3.5M	$2.1M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.69	+0.101%	$405K	$726K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.62	+0.070%	$1.4M	$9.6M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.69	+0.101%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.45	−0.004%	$147.9M	$44.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.56	+0.044%	$401K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.46	0.000%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.41	−0.022%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.53	+0.031%	$1.3M	$777K	10x	as long as short
Hotstuff NVDA-PERPlong	+0.0080%	1h	227.46	long leg	$35K	—	20x
Binance NVDAUSDT	+0.0094%	8h	227.66	+0.088%	$156.2M	$215.1M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.47	+0.004%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.47	+0.004%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.58	+0.053%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.60	+0.059%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.50	+0.018%	$94K	$112K	20x	as long as short
Nado NVDA-PERP	+0.0122%	1h	227.50	+0.016%	$483K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0133%	8h	227.68	+0.097%	$1.6M	$724K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.61	+0.065%	$2.2M	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0190%	1h	227.53	+0.031%	$49K	$1.6M	10x	as long as short
Lighter RH NVDA	+0.0208%	1h	227.75	+0.127%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0214%	8h	227.66	+0.088%	$723K	$202K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.99	+0.233%	$73K	$137	30x	as long as short
edgeX NVDAUSDC	+0.0277%	4h	227.60	+0.062%	$170K	$1.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0336%	1h	227.42	−0.018%	$689K	$718K	10x	as long as short