Funding you earn now, next payment 07:00 UTC−0.0007%/8h= −0.8% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%
Price spread now: Phoenix against Lighter+0.013%7-day average −0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$16as in the Price arb table
costs, in and out, $10k−$200.195% of the position
Funding, last 7 days−0.047%−$5 on $10k
+Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.013%, 7d avg −0.025%
=Together, before fees−0.097%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phoenix is 0.038% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.025%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter NVDA | 226.30 | 0.0184 | pay 0.0023% / 1h | 39m 15s | $2.1M | $3.2M | 20x |
| Short | Phoenix NVDA | 226.33 | 0.0177 | get 0.0022% / 1h | 39m 15s | $93K | $83K | 20x |
Lighter NVDA
Phoenix NVDAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$1.51
- Price spread: +0.013% → −0.025%
- $3.77
- Slippage, 4 orders
- −$12.52
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$17.27
- Costs to cover
- 0.195%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 3 min ago; Phoenix: live order book, 56 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, 3 min ago | 0.42 bp | 0.6 bp −$1 | 1.6 bp −$16 | 7.4 bp −$738 | doesn't fit |
| Sell Phoenix live order book, 56 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 | 226.34 | +0.017% | $12.4M | $14.3M | 100x | as long as short |
| OKX NVDA-USDT-SWAP | 0.0000% | 8h | 226.33 | +0.013% | $14.1M | $20.5M | 50x | as long as short |
| Gate NVDA_USDT | 0.0000% | 8h | 226.29 | −0.005% | $7.2M | $9.9M | 100x | as long as short |
| Bitget NVDAUSDT | 0.0000% | 8h | 226.41 | +0.048% | $15.8M | $16.6M | 100x | as long as short |
| SunX NVDA-USDT | 0.0000% | 8h | 225.98 | −0.142% | $2K | $3.6M | 20x | as long as short |
| HTX NVDA-USDT | 0.0000% | 8h | 226.39 | +0.039% | $198K | $445K | 30x | as long as short |
| Phemex NVDAUSDT | 0.0000% | 4h | 226.61 | +0.137% | $2.2M | $42K | 10x | as long as short |
| Aftermath Perps NVDAUSD | +0.0018% | 1h | 226.16 | −0.061% | $117K | $51K | 10x | as long as short |
| GRVT NVDA_USDT_Perp | +0.0020% | 8h | 226.43 | +0.056% | $22K | $428K | 10x | as long as short |
| Hotstuff NVDA-PERP | +0.0032% | 1h | 226.26 | −0.018% | $35K | — | 20x | as long as short |
Bybit NVDAUSDT
OKX NVDA-USDT-SWAP
Gate NVDA_USDT
Bitget NVDAUSDT
SunX NVDA-USDT
HTX NVDA-USDT
Phemex NVDAUSDT
Aftermath Perps NVDAUSD
GRVT NVDA_USDT_Perp
Hotstuff NVDA-PERPShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster NVDAUSDT | +0.0035% | 8h | 226.37 | +0.030% | $482K | $530K | 20x | as long as short |
| Arcus NVDA-USD | +0.0040% | 1h | 226.31 | +0.004% | $392K | $740K | 20x | as long as short |
| Vest NVDA-USD-PERP | +0.0046% | 1h | 226.40 | +0.044% | — | $74K | 25x | as long as short |
| SoDEX NVDA-USD | +0.0050% | 1h | 226.22 | −0.036% | $59K | $19K | 10x | as long as short |
| Ondo Perps NVDA-USD.P | +0.0050% | 1h | 226.24 | −0.027% | $1.6M | $1.9M | 15x | as long as short |
| Variational Omni NVDA | +0.0057% | 8h | 226.39 | +0.040% | $3.5M | $2.3M | — | as long as short |
| QFEX NVDA-USD | +0.0064% | 1h | 226.33 | +0.013% | $1.3M | $9.0M | 10x | as long as short |
| tradeXYZ xyz:NVDA | +0.0098% | 1h | 226.21 | −0.040% | $146.9M | $43.0M | 20x | as long as short |
| Polymarket Perps NVDA-USD | +0.0100% | 1h | 226.31 | +0.004% | $391K | $247K | 10x | as long as short |
| Pacifica NVDA | +0.0100% | 1h | 226.18 | −0.053% | $297K | $49K | 10x | as long as short |
| KuCoin NVDAUSDTM | +0.0100% | 8h | 226.38 | +0.035% | $1.6M | $743K | 20x | as long as short |
| ApeX Omni NVDAUSDT | +0.0100% | 1h | 226.19 | −0.049% | $16K | $44K | 50x | as long as short |
| Orderly PERP_NVDA_USDC | +0.0100% | 8h | 226.32 | +0.008% | $36K | $21K | 20x | as long as short |
| Aevo NVDA-PERP | +0.0112% | 1h | 226.34 | +0.019% | — | — | 10x | as long as short |
| Coinbase International NVDA-PERP-INTX | +0.0120% | 1h | 226.09 | −0.093% | $1.3M | $699K | 10x | as long as short |
| Binance NVDAUSDT | +0.0121% | 8h | 226.35 | +0.020% | $154.4M | $218.3M | 50x | as long as short |
| Phoenix NVDAshort | +0.0177% | 1h | 226.33 | +0.013% | $93K | $83K | 20x | |
| Nado NVDA-PERP | +0.0183% | 1h | 226.19 | −0.048% | $480K | $223K | 20x | as long as short |
| Lighter NVDAlong | +0.0184% | 1h | 226.30 | long leg | $2.1M | $3.2M | 20x | |
| Injective NVDA/USDC PERP | +0.0220% | 1h | 227.00 | +0.309% | $73K | $137 | 30x | as long as short |
| Lighter RH NVDA | +0.0240% | 1h | 226.46 | +0.070% | $5.1M | $6.9M | 20x | as long as short |
| BloFin NVDA-USDT | +0.0241% | 8h | 226.39 | +0.039% | $710K | $195K | 20x | as long as short |
| Deribit NVDA_USDC-PERPETUAL | +0.0325% | 1h | 226.25 | −0.023% | $53K | $1.8M | 10x | as long as short |
| Extended NVDA_24_5-USD | +0.0352% | 1h | 226.07 | −0.100% | $644K | $875K | 10x | as long as short |
| edgeX NVDAUSDC | +0.0879% | 4h | 226.41 | +0.047% | $170K | $1.9M | 20x | as long as short |
Aster NVDAUSDT
Arcus NVDA-USD
Vest NVDA-USD-PERP
SoDEX NVDA-USD
Ondo Perps NVDA-USD.P
Variational Omni NVDA
QFEX NVDA-USD
tradeXYZ xyz:NVDA
Polymarket Perps NVDA-USD
Pacifica NVDA
KuCoin NVDAUSDTM
ApeX Omni NVDAUSDT
Orderly PERP_NVDA_USDC
Aevo NVDA-PERP
Coinbase International NVDA-PERP-INTX
Binance NVDAUSDT
Nado NVDA-PERP
Injective NVDA/USDC PERP
Lighter RH NVDA
BloFin NVDA-USDT
Deribit NVDA_USDC-PERPETUAL
Extended NVDA_24_5-USD
edgeX NVDAUSDC