Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against Pacifica+0.124%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$870.873% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 3 days (all we have)−0.113%−$11 · spread now +0.124%, 7d avg +0.075%

Together, before fees−0.293%+ Points / potential airdropPacifica: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.049% dearer against Pacifica than usual: you sell high and buy low (spread +0.124% now, against its 7-day average of +0.075%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 39 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica NVDA	227.30	0.0100	pay 0.0013% / 1h	59m 13s	$298K	$60K	10x
Short	Phemex NVDAUSDT	227.58	0	get 0.0000% / 4h	3h 59m	$2.2M	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. 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 PacificabpFee PhemexbpOrdersPrice spread, now +0.124%Rate

Funding earned: −$21
Price spread: +0.124% → +0.075%: $4.89
Slippage, 4 orders: −$67.33
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$103.44
Costs to cover: 0.873%
Break-even: never at this rate

Slippage from Pacifica: live order book, 14 min ago; Phemex: 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 Pacifica live order book, 14 min ago	1.76 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.98 bp	29.7 bp −$30	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
Aster NVDAUSDT	0.0000%	8h	227.54	+0.107%	$483K	$586K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.46	+0.071%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.47	+0.076%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.40	+0.045%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.45	+0.069%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.50	+0.089%	$21K	$406K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.13	−0.074%	$3K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	+0.080%	$197K	$524K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.58	+0.124%	$2.2M	$42K	10x
Nado NVDA-PERP	+0.0008%	1h	227.32	+0.012%	$484K	$229K	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	+0.0016%	1h	227.35	+0.025%	$118K	$56K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	227.32	+0.010%	$35K	—	20x	as long as short
Bitget NVDAUSDT	+0.0019%	8h	227.50	+0.089%	$15.5M	$17.2M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.29	−0.004%	$535K	$447K	10x	as long as short
Binance NVDAUSDT	+0.0035%	8h	227.49	+0.084%	$156.3M	$219.6M	50x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.51	+0.093%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.32	+0.010%	$147.8M	$48.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.39	+0.040%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.32	+0.010%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.21	−0.039%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.33	+0.014%	$1.6M	$11.5M	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.01	−0.127%	$1.3M	$829K	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.45	+0.067%	—	—	10x	as long as short
Lighter NVDA	+0.0096%	1h	227.54	+0.106%	$2.2M	$3.2M	20x	as long as short
Pacifica NVDAlong	+0.0100%	1h	227.30	long leg	$298K	$60K	10x
ApeX Omni NVDAUSDT	+0.0100%	1h	227.38	+0.036%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.49	+0.084%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.38	+0.036%	$93K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0112%	8h	227.55	+0.111%	$1.6M	$742K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.30	+0.001%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0139%	8h	227.49	+0.084%	$714K	$205K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0146%	1h	227.48	+0.080%	$49K	$1.4M	10x	as long as short
Lighter RH NVDA	+0.0168%	1h	227.67	+0.164%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.67	+0.164%	$73K	$134	30x	as long as short
edgeX NVDAUSDC	+0.0575%	4h	227.45	+0.065%	$171K	$1.9M	20x	as long as short