Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0177%/8h= +19.4% APRpaid last 24h +0.042%

Price spread now: Phoenix against HTX−0.027%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now −0.027%, 7d avg −0.010%

Together, before fees+0.242%+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX NVDA-USDT	226.39	0	get 0.0000% / 8h	40m 46s	$198K	$446K	30x
Short	Phoenix NVDA	226.33	0.0177	get 0.0022% / 1h	40m 46s	$93K	$83K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.027%Rate

Funding earned: $37.13
Price spread: −0.027% → −0.010%: −$1.69
Slippage, 4 orders: −$18.2
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$1.76
Costs to cover: 0.372%
Break-even: 7.3 days

Slippage from HTX: live order book, 63 min ago; Phoenix: live order book, 54 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, 63 min ago	0.22 bp	7.9 bp −$8	8.1 bp −$81	16.7 bp −$1,669	doesn't fit
Sell Phoenix live order book, 54 min ago	3.10 bp	9.1 bp −$9	19.4 bp −$194	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
Bybit NVDAUSDT	0.0000%	8h	226.41	+0.009%	$12.4M	$14.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.38	−0.004%	$14.1M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.36	−0.013%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.47	+0.035%	$15.8M	$16.6M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.07	−0.141%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDTlong	0.0000%	8h	226.39	long leg	$198K	$446K	30x
Phemex NVDAUSDT	0.0000%	4h	226.63	+0.106%	$2.2M	$42K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0015%	8h	226.35	−0.018%	$22K	$428K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	226.27	−0.053%	$35K	—	20x	as long as short
Aftermath Perps NVDAUSD	+0.0019%	1h	226.14	−0.111%	$117K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NVDAUSDT	+0.0035%	8h	226.38	−0.003%	$482K	$530K	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.32	−0.031%	$392K	$740K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.44	+0.022%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.28	−0.049%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.24	−0.066%	$1.6M	$1.9M	15x	as long as short
Variational Omni NVDA	+0.0057%	8h	226.39	0.000%	$3.5M	$2.3M	—	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.41	+0.009%	$1.3M	$9.0M	10x	as long as short
tradeXYZ xyz:NVDA	+0.0099%	1h	226.28	−0.049%	$147.0M	$43.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.22	−0.075%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.37	−0.009%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.10	−0.128%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.39	0.000%	$36K	$21K	20x	as long as short
Polymarket Perps NVDA-USD	+0.0100%	1h	226.37	−0.009%	$391K	$247K	10x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	226.42	+0.012%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0120%	8h	226.41	+0.009%	$154.4M	$218.3M	50x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.133%	$1.3M	$699K	10x	as long as short
Phoenix NVDAshort	+0.0177%	1h	226.33	−0.027%	$93K	$83K	20x
Nado NVDA-PERP	+0.0183%	1h	226.20	−0.084%	$480K	$223K	20x	as long as short
Lighter NVDA	+0.0192%	1h	226.35	−0.016%	$2.1M	$3.2M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.00	+0.269%	$73K	$137	30x	as long as short
BloFin NVDA-USDT	+0.0239%	8h	226.48	+0.040%	$710K	$195K	20x	as long as short
Lighter RH NVDA	+0.0240%	1h	226.50	+0.049%	$5.1M	$6.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0352%	1h	226.20	−0.082%	$644K	$875K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0502%	1h	226.33	−0.027%	$53K	$1.8M	10x	as long as short
edgeX NVDAUSDC	+0.0547%	4h	226.38	−0.006%	$170K	$1.9M	20x	as long as short