Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0121%/8h= +13.3% APRpaid last 24h +0.033%

Price spread now: Binance against Phemex−0.080%7-day average −0.026% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$870.871% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.190%+$19 on $10k

Price spread, last 4 days (all we have)+0.125%+$13 · spread now −0.080%, 7d avg −0.026%

Together, before fees+0.315%+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.054% cheaper against Phemex than usual: you would sell low and buy high (spread −0.080% now, against its 7-day average of −0.026%). If the spread goes back, that is −$5 on $10k: about 35 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.61	0	get 0.0000% / 4h	39m 02s	$2.2M	$42K	10x
Short	Binance NVDAUSDT	226.43	0.0121	get 0.0121% / 8h	39m 02s	$154.5M	$218.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.080%Rate

Funding earned: $25.45
Price spread: −0.080% → −0.026%: −$5.37
Slippage, 4 orders: −$65.15
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$67.07
Costs to cover: 0.871%
Break-even: 25.5 days

Slippage from Phemex: live order book, 4 min ago; Binance: 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 Phemex live order book, 4 min ago	1.10 bp	36.1 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.22 bp	5.2 bp −$5	6.0 bp −$60	8.6 bp −$859	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	226.38	−0.101%	$12.4M	$14.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.39	−0.097%	$14.1M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.29	−0.141%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.41	−0.088%	$15.8M	$16.6M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.98	−0.278%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.39	−0.097%	$198K	$445K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.61	long leg	$2.2M	$42K	10x
Aftermath Perps NVDAUSD	+0.0018%	1h	226.16	−0.197%	$117K	$51K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0020%	8h	226.43	−0.081%	$22K	$428K	10x	as long as short
Hotstuff NVDA-PERP	+0.0032%	1h	226.26	−0.154%	$35K	—	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NVDAUSDT	+0.0035%	8h	226.37	−0.106%	$482K	$530K	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.31	−0.132%	$392K	$740K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.40	−0.093%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.22	−0.172%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.24	−0.163%	$1.6M	$1.9M	15x	as long as short
Variational Omni NVDA	+0.0057%	8h	226.39	−0.097%	$3.5M	$2.3M	—	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.33	−0.124%	$1.3M	$9.0M	10x	as long as short
tradeXYZ xyz:NVDA	+0.0098%	1h	226.20	−0.181%	$146.9M	$43.0M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0100%	1h	226.31	−0.132%	$391K	$247K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	226.18	−0.190%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.38	−0.101%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.19	−0.185%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.32	−0.128%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	226.34	−0.118%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.229%	$1.3M	$699K	10x	as long as short
Binance NVDAUSDTshort	+0.0121%	8h	226.43	−0.080%	$154.5M	$218.3M	50x
Phoenix NVDA	+0.0177%	1h	226.33	−0.124%	$93K	$83K	20x	as long as short
Nado NVDA-PERP	+0.0183%	1h	226.19	−0.185%	$480K	$223K	20x	as long as short
Lighter NVDA	+0.0184%	1h	226.30	−0.136%	$2.1M	$3.2M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.00	+0.172%	$73K	$137	30x	as long as short
Lighter RH NVDA	+0.0240%	1h	226.46	−0.066%	$5.1M	$6.9M	20x	as long as short
BloFin NVDA-USDT	+0.0241%	8h	226.39	−0.097%	$710K	$195K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0325%	1h	226.25	−0.159%	$53K	$1.8M	10x	as long as short
Extended NVDA_24_5-USD	+0.0352%	1h	226.07	−0.236%	$644K	$875K	10x	as long as short
edgeX NVDAUSDC	+0.0879%	4h	226.41	−0.090%	$170K	$1.9M	20x	as long as short