Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0074%/8h= +8.1% APRpaid last 24h −0.025%

Price spread now: Variational Omni against Lighter−0.022%7-day average +0.015% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.052%−$5 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.022%, 7d avg +0.015%

Together, before fees−0.030%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.037% cheaper against Lighter than usual: you would sell low and buy high (spread −0.022% now, against its 7-day average of +0.015%). If the spread goes back, that is −$4 on $10k: about 40 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 4 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	227.24	0.0048	pay 0.0006% / 1h	30m 33s	$2.1M	$3.1M	20x
Short	Variational Omni NVDA	227.19	0.0122	get 0.0122% / 8h	5h 30m	$3.3M	$2.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.022%Rate

Funding earned: $15.51
Price spread: −0.022% → +0.015%: −$3.73
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $11.78
Costs to cover: 0.000%
Break-even: 1.7 days

Slippage unknown: Lighter: live order book, 10 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

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, 10 min ago	0.48 bp	0.5 bp $0	1.4 bp −$14	12.8 bp −$1,283	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.79 bp	doesn't fit	3.7 bp −$37	doesn't fit	doesn't fit

NVDA on 35 exchanges

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	−0.1600%	1h	225.28	−0.863%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.29	+0.021%	$12.6M	$16.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.32	+0.034%	$14.4M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.24	−0.001%	$7.2M	$9.2M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.28	+0.017%	$15.6M	$16.0M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.79	−0.199%	$2K	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.09	−0.067%	$16K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.49	+0.109%	$199K	$399K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.33	+0.039%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0018%	1h	227.17	−0.034%	$117K	$52K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.08	−0.070%	$613K	$938K	10x	as long as short
Aster NVDAUSDT	+0.0038%	8h	227.25	+0.005%	$483K	$565K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.23	−0.005%	$1.3M	$9.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.39	+0.065%	—	$74K	25x	as long as short
Lighter NVDAlong	+0.0048%	1h	227.24	long leg	$2.1M	$3.1M	20x
tradeXYZ xyz:NVDA	+0.0050%	1h	227.24	−0.001%	$149.0M	$45.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.24	−0.001%	$392K	$237K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.08	−0.071%	$59K	$16K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.03	−0.093%	$1.5M	$1.9M	15x	as long as short
GRVT NVDA_USDT_Perp	+0.0052%	8h	227.26	+0.008%	$20K	$428K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.11	−0.059%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.10	−0.062%	$16K	$45K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.17	−0.032%	$36K	$19K	20x	as long as short
Nado NVDA-PERP	+0.0100%	1h	227.15	−0.039%	$478K	$208K	20x	as long as short
Lighter RH NVDA	+0.0104%	1h	227.37	+0.056%	$5.3M	$7.2M	20x	as long as short
Variational Omni NVDAshort	+0.0122%	8h	227.19	−0.022%	$3.3M	$2.4M	—
Aevo NVDA-PERP	+0.0128%	1h	227.19	−0.025%	—	—	10x	as long as short
KuCoin NVDAUSDTM	+0.0135%	8h	227.32	+0.034%	$1.6M	$1.4M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	227.12	−0.054%	$1.3M	$667K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.10	−0.062%	$93K	$82K	20x	as long as short
Binance NVDAUSDT	+0.0174%	8h	227.31	+0.030%	$155.8M	$224.7M	50x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.63	+0.171%	$73K	$137	30x	as long as short
BloFin NVDA-USDT	+0.0295%	8h	227.22	−0.010%	$738K	$201K	20x	as long as short
edgeX NVDAUSDC	+0.0314%	4h	227.19	−0.024%	$171K	$1.9M	20x	as long as short
Arcus NVDA-USD	+0.0320%	1h	227.21	−0.014%	$384K	$706K	20x	as long as short