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: SunX against Lighter RH−0.255%7-day average −0.174% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$660.658% of the position

Long on Lighter RH Short on SunX

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)−0.092%−$9 · spread now −0.255%, 7d avg −0.174%

Together, before fees−0.317%+ Points / potential airdropLighter RH: Points live · farm board−$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and SunX is 0.080% cheaper against Lighter RH than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.174%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH NVDA	227.76	0.0208	pay 0.0026% / 1h	5m 19s	$5.1M	$7.1M	20x
Short	SunX NVDA-USDT	227.18	0	get 0.0000% / 8h	5h 05m	$2K	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.255%Rate

Funding earned: −$43.68
Price spread: −0.255% → −0.174%: −$8.04
Slippage, 4 orders: −$57.81
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$117.53
Costs to cover: 0.658%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 3 min ago; SunX: live order book, 3 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, 3 min ago	0.88 bp	0.9 bp −$1	2.1 bp −$21	34.0 bp −$3,397	doesn't fit
Sell SunX live order book, 3 min ago	21.97 bp	26.0 bp −$26	55.7 bp −$557	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	−0.066%	$12.6M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.60	−0.070%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.57	−0.083%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.65	−0.048%	$15.5M	$16.4M	100x	as long as short
SunX NVDA-USDTshort	0.0000%	8h	227.18	−0.255%	$2K	$3.7M	20x
HTX NVDA-USDT	0.0000%	8h	227.76	0.000%	$198K	$475K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.72	−0.018%	$2.2M	$43K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0015%	1h	227.55	−0.090%	$118K	$54K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	227.47	−0.127%	$35K	—	20x	as long as short
Aster NVDAUSDT	+0.0025%	8h	227.66	−0.042%	$483K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0031%	8h	227.69	−0.031%	$21K	$386K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.56	−0.088%	$406K	$746K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.65	−0.048%	$1.4M	$9.5M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.74	−0.009%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.49	−0.119%	$147.9M	$43.7M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.59	−0.075%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.49	−0.119%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.43	−0.145%	$1.6M	$2.0M	15x	as long as short
Variational Omni NVDA	+0.0052%	8h	227.61	−0.066%	$3.5M	$2.1M	—	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.53	−0.101%	$1.3M	$776K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.48	−0.121%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.52	−0.105%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.61	−0.066%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0102%	1h	227.57	−0.083%	$49K	$1.6M	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.49	−0.119%	$94K	$112K	20x	as long as short
Binance NVDAUSDT	+0.0109%	8h	227.65	−0.048%	$156.2M	$215.2M	50x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	227.62	−0.062%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0129%	1h	227.51	−0.109%	$483K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0142%	8h	227.68	−0.035%	$1.6M	$724K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.62	−0.064%	$2.2M	$3.3M	20x	as long as short
Lighter RH NVDAlong	+0.0208%	1h	227.76	long leg	$5.1M	$7.1M	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.98	+0.097%	$73K	$139	30x	as long as short
BloFin NVDA-USDT	+0.0228%	8h	227.70	−0.026%	$722K	$201K	20x	as long as short
edgeX NVDAUSDC	+0.0279%	4h	227.65	−0.047%	$170K	$1.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0416%	1h	227.47	−0.125%	$686K	$733K	10x	as long as short