Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.046%

Price spread now: HTX against Lighter+0.003%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$250.247% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.304%−$30 on $10k

Price spread, last 3 days (all we have)−0.069%−$7 · spread now +0.003%, 7d avg −0.021%

Together, before fees−0.374%+ Points / potential airdropLighter: Season 3 · farm board−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.024% dearer against Lighter than usual: you sell high and buy low (spread +0.003% now, against its 7-day average of −0.021%): +$2 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	227.46	0.0200	pay 0.0025% / 1h	5m 17s	$2.1M	$3.3M	20x
Short	HTX NVDA-USDT	227.47	0	get 0.0000% / 8h	1h 05m	$198K	$526K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter. 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 LighterbpFee HTXbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$42
Price spread: +0.003% → −0.021%: $2.38
Slippage, 4 orders: −$12.69
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$64.31
Costs to cover: 0.247%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; HTX: live order book, 13 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 Lighter live order book, 7 min ago	0.29 bp	0.7 bp −$1	2.0 bp −$20	15.3 bp −$1,527	doesn't fit
Sell HTX live order book, 13 min ago	0.22 bp	10.6 bp −$11	12.5 bp −$125	32.3 bp −$3,229	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	−0.0024%	1h	227.28	−0.081%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	227.42	−0.019%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.43	−0.015%	$12.7M	$15.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.39	−0.033%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.37	−0.041%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.41	−0.022%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.50	+0.017%	$20K	$432K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.90	−0.248%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDTshort	0.0000%	8h	227.47	+0.003%	$198K	$526K	30x
Phemex NVDAUSDT	0.0000%	4h	227.48	+0.007%	$2.2M	$41K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0023%	1h	227.46	0.000%	$118K	$55K	10x	as long as short
Binance NVDAUSDT	+0.0026%	8h	227.46	−0.004%	$156.3M	$220.5M	50x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.23	−0.105%	$536K	$446K	10x	as long as short
Bitget NVDAUSDT	+0.0033%	8h	227.45	−0.006%	$15.6M	$17.7M	100x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.37	−0.041%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.45	−0.006%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.29	−0.076%	$147.3M	$48.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.31	−0.068%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.28	−0.081%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.23	−0.103%	$1.6M	$2.1M	15x	as long as short
Phoenix NVDA	+0.0070%	1h	227.31	−0.068%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.42	−0.019%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.200%	$1.3M	$863K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.26	−0.090%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.45	−0.006%	$1.6M	$749K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.29	−0.076%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.39	−0.033%	$36K	$22K	20x	as long as short
Nado NVDA-PERP	+0.0103%	1h	227.26	−0.090%	$483K	$227K	20x	as long as short
BloFin NVDA-USDT	+0.0106%	8h	227.44	−0.011%	$672K	$204K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0146%	1h	227.34	−0.055%	$49K	$1.4M	10x	as long as short
Lighter RH NVDA	+0.0184%	1h	227.57	+0.047%	$5.1M	$7.2M	20x	as long as short
Lighter NVDAlong	+0.0200%	1h	227.46	long leg	$2.1M	$3.3M	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.71	+0.108%	$73K	$140	30x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.25	−0.094%	$400K	$723K	20x	as long as short
edgeX NVDAUSDC	+0.0467%	4h	227.41	−0.024%	$170K	$1.9M	20x	as long as short