Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h −0.041%

Price spread now: Phemex against Lighter RH−0.035%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$700.696% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 4 days (all we have)−0.235%−$23 · spread now −0.035%, 7d avg −0.030%

Together, before fees−0.460%+ Points / potential airdropLighter RH: Points live · farm board−$46 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH NVDA	227.80	0.0208	pay 0.0026% / 1h	6m 44s	$5.1M	$7.1M	20x
Short	Phemex NVDAUSDT	227.72	0	get 0.0000% / 4h	1h 06m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.035%Rate

Funding earned: −$43.68
Price spread: −0.035% → −0.030%: −$0.51
Slippage, 4 orders: −$57.56
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$113.75
Costs to cover: 0.696%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; Phemex: live order book, 2 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, 2 min ago	0.88 bp	0.9 bp −$1	2.1 bp −$21	34.0 bp −$3,397	doesn't fit
Sell Phemex live order book, 2 min ago	1.76 bp	31.5 bp −$31	doesn't fit	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	227.65	−0.066%	$12.6M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.65	−0.066%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.60	−0.088%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.69	−0.048%	$15.5M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.23	−0.250%	$3K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	−0.018%	$198K	$475K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.72	−0.035%	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	227.55	−0.112%	$118K	$54K	10x	as long as short
Aster NVDAUSDT	+0.0024%	8h	227.69	−0.049%	$483K	$590K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0031%	8h	227.69	−0.048%	$21K	$386K	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	227.58	−0.097%	$406K	$746K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.64	−0.070%	$1.4M	$9.5M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.75	−0.022%	—	$74K	25x	as long as short
Variational Omni NVDA	+0.0049%	8h	227.62	−0.079%	$3.5M	$2.1M	—	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.51	−0.127%	$147.9M	$43.7M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.63	−0.075%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.51	−0.127%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.39	−0.180%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.53	−0.119%	$1.3M	$776K	10x	as long as short
Hotstuff NVDA-PERP	+0.0080%	1h	227.52	−0.123%	$35K	—	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.50	−0.131%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.52	−0.123%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.64	−0.070%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.65	−0.065%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.57	−0.101%	$94K	$112K	20x	as long as short
Binance NVDAUSDT	+0.0108%	8h	227.69	−0.048%	$156.2M	$215.1M	50x	as long as short
Nado NVDA-PERP	+0.0130%	1h	227.52	−0.123%	$483K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0143%	8h	227.69	−0.048%	$1.6M	$723K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.63	−0.075%	$2.2M	$3.3M	20x	as long as short
Lighter RH NVDAlong	+0.0208%	1h	227.80	long leg	$5.1M	$7.1M	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.98	+0.079%	$73K	$139	30x	as long as short
BloFin NVDA-USDT	+0.0228%	8h	227.70	−0.044%	$722K	$201K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0234%	1h	227.60	−0.088%	$49K	$1.6M	10x	as long as short
Extended NVDA_24_5-USD	+0.0416%	1h	227.46	−0.149%	$686K	$733K	10x	as long as short
edgeX NVDAUSDC	+0.0652%	4h	227.68	−0.054%	$170K	$1.9M	20x	as long as short