Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.045%

Price spread now: Lighter against HTX−0.080%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.288%+$29 on $10k

Price spread, last 4 days (all we have)+0.302%+$30 · spread now −0.080%, 7d avg +0.016%

Together, before fees+0.590%+ Points / potential airdropLighter: Season 3 · farm board+$59 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.096% cheaper against HTX than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of +0.016%). If the spread goes back, that is −$10 on $10k: about 10 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.288% in total) that is about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NVDA-USDT	226.58	0	get 0.0000% / 8h	7h 49m	$198K	$437K	30x
Short	Lighter NVDA	226.40	0.0032	get 0.0004% / 1h	49m 13s	$2.1M	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.080%Rate

Funding earned: $6.72
Price spread: −0.080% → +0.016%: −$9.64
Slippage, 4 orders: −$8.02
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$22.93
Costs to cover: 0.200%
Break-even: 30.9 days

Slippage from HTX: live order book, 49 min ago; Lighter: live order book, 3 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 HTX live order book, 49 min ago	0.22 bp	7.5 bp −$7	8.3 bp −$83	18.2 bp −$1,823	doesn't fit
Sell Lighter live order book, 3 min ago	0.33 bp	0.4 bp $0	1.5 bp −$15	13.7 bp −$1,374	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	−0.0112%	1h	226.22	−0.159%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.39	−0.084%	$12.5M	$14.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.42	−0.071%	$14.1M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.40	−0.079%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.46	−0.053%	$15.8M	$16.3M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.11	−0.207%	$3K	$3.5M	20x	as long as short
HTX NVDA-USDTlong	0.0000%	8h	226.58	long leg	$198K	$437K	30x
Phemex NVDAUSDT	0.0000%	4h	226.59	+0.004%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0014%	1h	226.18	−0.177%	$117K	$51K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0015%	1h	226.37	−0.093%	$53K	$1.9M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX NVDAUSDC	+0.0020%	4h	226.30	−0.125%	$171K	$1.9M	20x	as long as short
Lighter NVDAshort	+0.0032%	1h	226.40	−0.080%	$2.1M	$3.2M	20x
Lighter RH NVDA	+0.0040%	1h	226.58	0.000%	$5.1M	$6.9M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.34	−0.106%	$392K	$737K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.56	−0.009%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.30	−0.124%	$147.0M	$43.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.25	−0.146%	$391K	$245K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.28	−0.132%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.20	−0.168%	$1.6M	$1.9M	15x	as long as short
Nado NVDA-PERP	+0.0056%	1h	226.25	−0.145%	$481K	$223K	20x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.42	−0.071%	$1.3M	$9.1M	10x	as long as short
Aster NVDAUSDT	+0.0080%	8h	226.40	−0.079%	$482K	$538K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0081%	8h	226.35	−0.102%	$21K	$426K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	226.20	−0.167%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.21	−0.163%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.42	−0.071%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0104%	8h	226.46	−0.054%	$3.3M	$2.5M	—	as long as short
KuCoin NVDAUSDTM	+0.0111%	8h	226.37	−0.093%	$1.6M	$894K	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.44	−0.060%	—	—	10x	as long as short
Extended NVDA_24_5-USD	+0.0128%	1h	226.24	−0.150%	$644K	$879K	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.29	−0.128%	$1.3M	$696K	10x	as long as short
Binance NVDAUSDT	+0.0165%	8h	226.47	−0.049%	$155.2M	$220.8M	50x	as long as short
Phoenix NVDA	+0.0212%	1h	226.19	−0.172%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.72	+0.062%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0285%	8h	226.49	−0.040%	$711K	$197K	20x	as long as short