Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0133%/8h= −14.6% APRpaid last 24h −0.044%

Price spread now: Phemex against KuCoin−0.013%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$145as in the Funding arb table

Net, price: spread back to 7d avg − costs−$116as in the Price arb table

costs, in and out, $10k−$1131.126% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.327%−$33 on $10k

Price spread, last 4 days (all we have)−0.194%−$19 · spread now −0.013%, 7d avg +0.020%

Together, before fees−0.521%−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.033% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.020%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NVDAUSDTM	227.67	0.0133	pay 0.0133% / 8h	5h 29m	$1.6M	$724K	20x
Short	Phemex NVDAUSDT	227.64	0	get 0.0000% / 4h	1h 29m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$27.93
Price spread: −0.013% → +0.020%: −$3.29
Slippage, 4 orders: −$88.61
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$143.82
Costs to cover: 1.126%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 min ago; Phemex: 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 KuCoin live order book, 6 min ago	1.10 bp	25.8 bp −$26	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	0.66 bp	32.2 bp −$32	doesn't fit	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	227.62	−0.022%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.61	−0.026%	$14.4M	$20.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.57	−0.044%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.65	−0.009%	$15.5M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.68	+0.004%	$20K	$384K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.14	−0.233%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.040%	$198K	$478K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.64	−0.013%	$2.2M	$43K	10x
Aster NVDAUSDT	+0.0011%	8h	227.64	−0.011%	$483K	$590K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	227.52	−0.068%	$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	+0.0036%	8h	227.62	−0.023%	$3.5M	$2.1M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.70	+0.013%	$406K	$726K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.66	−0.004%	$1.4M	$9.6M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.73	+0.026%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.47	−0.088%	$147.9M	$44.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.58	−0.040%	$401K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.49	−0.079%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.41	−0.114%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.53	−0.061%	$1.3M	$777K	10x	as long as short
Hotstuff NVDA-PERP	+0.0080%	1h	227.46	−0.092%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0095%	8h	227.66	−0.004%	$156.2M	$215.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.50	−0.074%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.47	−0.088%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.60	−0.031%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.63	−0.015%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.50	−0.075%	$94K	$112K	20x	as long as short
Nado NVDA-PERP	+0.0121%	1h	227.51	−0.068%	$483K	$228K	20x	as long as short
KuCoin NVDAUSDTMlong	+0.0133%	8h	227.67	long leg	$1.6M	$724K	20x
Lighter NVDA	+0.0168%	1h	227.63	−0.020%	$2.2M	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0190%	1h	227.57	−0.044%	$49K	$1.6M	10x	as long as short
Lighter RH NVDA	+0.0208%	1h	227.75	+0.035%	$5.1M	$7.1M	20x	as long as short
BloFin NVDA-USDT	+0.0214%	8h	227.66	−0.004%	$723K	$201K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.99	+0.141%	$73K	$137	30x	as long as short
edgeX NVDAUSDC	+0.0277%	4h	227.60	−0.030%	$170K	$1.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0344%	1h	227.41	−0.116%	$689K	$718K	10x	as long as short