Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.017%

Price spread now: Phemex against OKX0.000%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$940.936% of the position

Long on OKX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.153%−$15 on $10k

Price spread, last 4 days (all we have)−0.176%−$18 · spread now 0.000%, 7d avg +0.022%

Together, before fees−0.329%−$33 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.022% cheaper against OKX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX NVDA-USDT-SWAP	227.70	0	get 0.0000% / 8h	5h 10m	$14.4M	$20.2M	50x
Short	Phemex NVDAUSDT	227.70	0	get 0.0000% / 4h	1h 10m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against OKX. 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 OKXbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.022%: −$2.16
Slippage, 4 orders: −$71.57
Fee OKX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$95.73
Costs to cover: 0.936%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Phemex: 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 OKX live order book, 3 min ago	0.22 bp	5.4 bp −$5	7.2 bp −$72	15.8 bp −$1,578	doesn't fit
Sell Phemex live order book, 3 min ago	1.10 bp	38.0 bp −$38	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	227.69	−0.004%	$12.7M	$14.7M	100x	as long as short
OKX NVDA-USDT-SWAPlong	0.0000%	8h	227.70	long leg	$14.4M	$20.2M	50x
Gate NVDA_USDT	0.0000%	8h	227.62	−0.035%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.73	+0.013%	$15.5M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.28	−0.184%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.026%	$198K	$475K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.70	0.000%	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	227.50	−0.089%	$118K	$54K	10x	as long as short
Aster NVDAUSDT	+0.0022%	8h	227.69	−0.003%	$483K	$590K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0032%	8h	227.69	−0.004%	$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	227.57	−0.057%	$406K	$746K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.68	−0.009%	$1.4M	$9.5M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.77	+0.031%	—	$74K	25x	as long as short
Hotstuff NVDA-PERP	+0.0048%	1h	227.53	−0.075%	$35K	—	20x	as long as short
Variational Omni NVDA	+0.0049%	8h	227.62	−0.035%	$3.5M	$2.1M	—	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.53	−0.075%	$147.9M	$44.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.63	−0.031%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.53	−0.075%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.39	−0.136%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.53	−0.075%	$1.3M	$777K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.51	−0.083%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.49	−0.092%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.66	−0.018%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.67	−0.014%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.60	−0.044%	$94K	$112K	20x	as long as short
Binance NVDAUSDT	+0.0106%	8h	227.72	+0.007%	$156.3M	$215.1M	50x	as long as short
Nado NVDA-PERP	+0.0130%	1h	227.54	−0.069%	$484K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0143%	8h	227.72	+0.009%	$1.6M	$723K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.67	−0.014%	$2.2M	$3.3M	20x	as long as short
Lighter RH NVDA	+0.0216%	1h	227.80	+0.044%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.98	+0.123%	$73K	$139	30x	as long as short
BloFin NVDA-USDT	+0.0226%	8h	227.71	+0.004%	$725K	$201K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0234%	1h	227.60	−0.044%	$49K	$1.6M	10x	as long as short
Extended NVDA_24_5-USD	+0.0416%	1h	227.47	−0.101%	$686K	$729K	10x	as long as short
edgeX NVDAUSDC	+0.0474%	4h	227.63	−0.033%	$170K	$1.9M	20x	as long as short