Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0232%/8h= −25.4% APRpaid last 24h −0.024%

Price spread now: OKX against Lighter RH−0.040%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$140.137% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.040%, 7d avg −0.022%

Together, before fees−0.051%+ Points / potential airdropLighter RH: Points live · farm board−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: −$7 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 -0.074% in total (about -3.9% 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	226.43	0.0232	pay 0.0029% / 1h	14m 11s	$5.1M	$7.0M	20x
Short	OKX NVDA-USDT-SWAP	226.34	0	get 0.0000% / 8h	14m 11s	$14.1M	$20.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$48.72
Price spread: −0.040% → −0.022%: −$1.73
Slippage, 4 orders: −$3.67
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$64.12
Costs to cover: 0.137%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; OKX: 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 Lighter RH live order book, 4 min ago	0.88 bp	1.7 bp −$2	4.0 bp −$40	34.1 bp −$3,405	doesn't fit
Sell OKX live order book, 4 min ago	0.22 bp	5.2 bp −$5	6.8 bp −$68	15.6 bp −$1,560	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	226.31	−0.053%	$12.4M	$14.3M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	226.34	−0.040%	$14.1M	$20.3M	50x
Hotstuff NVDA-PERP	0.0000%	1h	226.16	−0.119%	$35K	—	20x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.33	−0.044%	$7.2M	$10.0M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.43	0.000%	$15.9M	$16.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.94	−0.216%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.40	−0.013%	$198K	$443K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.63	+0.088%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0016%	1h	226.11	−0.140%	$117K	$50K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0035%	8h	226.32	−0.047%	$21K	$423K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NVDA-USD	+0.0040%	1h	226.26	−0.075%	$392K	$738K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.35	−0.035%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.19	−0.106%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.11	−0.141%	$1.6M	$1.9M	15x	as long as short
Aster NVDAUSDT	+0.0053%	8h	226.32	−0.049%	$482K	$530K	20x	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.31	−0.053%	$1.3M	$9.1M	10x	as long as short
Variational Omni NVDA	+0.0077%	8h	226.31	−0.053%	$3.5M	$2.2M	—	as long as short
Polymarket Perps NVDA-USD	+0.0081%	1h	226.26	−0.075%	$391K	$247K	10x	as long as short
tradeXYZ xyz:NVDA	+0.0085%	1h	226.22	−0.093%	$147.0M	$43.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.16	−0.119%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.35	−0.035%	$1.6M	$802K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.14	−0.128%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.31	−0.053%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	226.34	−0.041%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.150%	$1.3M	$697K	10x	as long as short
Binance NVDAUSDT	+0.0139%	8h	226.35	−0.036%	$155.3M	$219.8M	50x	as long as short
Lighter NVDA	+0.0160%	1h	226.29	−0.064%	$2.1M	$3.3M	20x	as long as short
Nado NVDA-PERP	+0.0170%	1h	226.11	−0.140%	$480K	$223K	20x	as long as short
Phoenix NVDA	+0.0177%	1h	226.19	−0.106%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.78	+0.155%	$73K	$139	30x	as long as short
Lighter RH NVDAlong	+0.0232%	1h	226.43	long leg	$5.1M	$7.0M	20x
BloFin NVDA-USDT	+0.0257%	8h	226.41	−0.009%	$713K	$195K	20x	as long as short
Extended NVDA_24_5-USD	+0.0344%	1h	226.04	−0.170%	$644K	$875K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0369%	1h	226.28	−0.066%	$53K	$1.9M	10x	as long as short
edgeX NVDAUSDC	+0.0800%	4h	226.35	−0.034%	$170K	$1.9M	20x	as long as short