Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0198%/8h= −21.7% APRpaid last 24h −0.019%

Price spread now: Aster against Lighter RH−0.043%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$120.125% of the position

Long on Lighter RH Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.043%, 7d avg −0.049%

Together, before fees−0.029%+ Points / potential airdropLighter RH: Points live · Aster: Stage 5 · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.071% in total (about -3.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH NVDA	227.74	0.0208	pay 0.0026% / 1h	32m 24s	$5.1M	$7.0M	20x
Short	Aster NVDAUSDT	227.64	0.0010	get 0.0010% / 8h	5h 32m	$483K	$590K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter RH. 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 Lighter RHbpFee AsterbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$41.67
Price spread: −0.043% → −0.049%: $0.63
Slippage, 4 orders: −$4.47
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$53.51
Costs to cover: 0.125%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 1 min ago; Aster: live order book, 30 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 RH live order book, 1 min ago	1.10 bp	1.2 bp −$1	2.3 bp −$23	35.3 bp −$3,531	doesn't fit
Sell Aster live order book, 30 min ago	0.66 bp	4.7 bp −$5	9.4 bp −$94	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	227.61	−0.057%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.61	−0.057%	$14.4M	$20.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.53	−0.092%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.64	−0.044%	$15.5M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.67	−0.029%	$20K	$384K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.14	−0.263%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.009%	$198K	$479K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.66	−0.035%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDTshort	+0.0010%	8h	227.64	−0.043%	$483K	$590K	20x
Aftermath Perps NVDAUSD	+0.0011%	1h	227.49	−0.110%	$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	+0.0034%	8h	227.71	−0.013%	$3.5M	$2.1M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.69	−0.022%	$405K	$726K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.61	−0.057%	$1.4M	$9.6M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.69	−0.022%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.46	−0.123%	$147.9M	$44.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.56	−0.079%	$401K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.45	−0.127%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.41	−0.145%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.123%	$1.3M	$776K	10x	as long as short
Binance NVDAUSDT	+0.0094%	8h	227.63	−0.048%	$156.2M	$215.1M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.46	−0.123%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.47	−0.119%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.61	−0.057%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.60	−0.060%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.50	−0.105%	$94K	$112K	20x	as long as short
Hotstuff NVDA-PERP	+0.0112%	1h	227.46	−0.123%	$35K	—	20x	as long as short
Nado NVDA-PERP	+0.0122%	1h	227.47	−0.116%	$483K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0133%	8h	227.67	−0.031%	$1.6M	$724K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.60	−0.060%	$2.2M	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0190%	1h	227.56	−0.079%	$49K	$1.6M	10x	as long as short
Lighter RH NVDAlong	+0.0208%	1h	227.74	long leg	$5.1M	$7.0M	20x
BloFin NVDA-USDT	+0.0214%	8h	227.66	−0.035%	$723K	$202K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.99	+0.110%	$73K	$137	30x	as long as short
Extended NVDA_24_5-USD	+0.0336%	1h	227.41	−0.145%	$689K	$718K	10x	as long as short
edgeX NVDAUSDC	+0.0532%	4h	227.64	−0.043%	$170K	$1.9M	20x	as long as short