Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0056%/8h= −6.1% APRpaid last 24h −0.040%

Price spread now: Phemex against Nado+0.099%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1101.100% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.039%−$4 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now +0.099%, 7d avg +0.041%

Together, before fees−0.149%+ Points / potential airdropNado: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.057% dearer against Nado than usual: you sell high and buy low (spread +0.099% now, against its 7-day average of +0.041%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NVDA-PERP	227.17	0.0056	pay 0.0007% / 1h	26m 37s	$483K	$227K	20x
Short	Phemex NVDAUSDT	227.39	0	get 0.0000% / 4h	3h 26m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Nado. 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 NadobpFee PhemexbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$11.68
Price spread: +0.099% → +0.041%: $5.72
Slippage, 4 orders: −$91.01
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$115.96
Costs to cover: 1.100%
Break-even: never at this rate

Slippage from Nado: live order book, 26 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 Nado live order book, 26 min ago	0.22 bp	9.1 bp −$9	27.6 bp −$276	doesn't fit	doesn't fit
Sell Phemex live order book, 2 min ago	1.98 bp	43.9 bp −$44	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	227.14	−0.011%	$12.6M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.13	−0.016%	$14.3M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.14	−0.011%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.18	+0.006%	$15.4M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.27	+0.044%	$20K	$394K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.89	−0.121%	$2K	$3.7M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.09	−0.033%	$49K	$1.7M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.26	+0.041%	$197K	$462K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.39	+0.099%	$2.2M	$43K	10x
Hotstuff NVDA-PERP	+0.0008%	1h	227.14	−0.011%	$35K	—	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0011%	1h	227.09	−0.034%	$118K	$53K	10x	as long as short
Aster NVDAUSDT	+0.0013%	8h	227.18	+0.006%	$482K	$569K	20x	as long as short
Lighter NVDA	+0.0040%	1h	227.13	−0.018%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.14	−0.011%	$399K	$738K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.23	+0.028%	$1.3M	$9.1M	10x	as long as short
Variational Omni NVDA	+0.0043%	8h	227.27	+0.044%	$3.6M	$2.2M	—	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.36	+0.085%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.02	−0.064%	$147.5M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.18	+0.006%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.10	−0.029%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.03	−0.060%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERPlong	+0.0056%	1h	227.17	long leg	$483K	$227K	20x
Binance NVDAUSDT	+0.0100%	8h	227.16	−0.003%	$155.7M	$216.3M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.07	−0.041%	$298K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.22	+0.024%	$1.6M	$728K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.14	−0.011%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.17	+0.002%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.17	+0.003%	—	—	10x	as long as short
Lighter RH NVDA	+0.0128%	1h	227.28	+0.050%	$5.1M	$7.1M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.11	−0.025%	$1.3M	$782K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.19	+0.011%	$93K	$112K	20x	as long as short
Extended NVDA_24_5-USD	+0.0192%	1h	227.04	−0.055%	$672K	$780K	10x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.52	+0.156%	$73K	$138	30x	as long as short
BloFin NVDA-USDT	+0.0220%	8h	227.22	+0.024%	$720K	$201K	20x	as long as short
edgeX NVDAUSDC	+0.0478%	4h	227.22	+0.022%	$170K	$1.9M	20x	as long as short