Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Bybit against Phemex−0.176%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$940.937% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now −0.176%, 7d avg −0.030%

Together, before fees+0.241%+$24 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: Bybit is 0.147% cheaper against Phemex than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of −0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.69	0	get 0.0000% / 4h	1h 32m	$2.2M	$42K	10x
Short	Bybit NVDAUSDT	226.29	0	get 0.0000% / 8h	1h 32m	$12.4M	$15.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.176%Rate

Funding earned: $0
Price spread: −0.176% → −0.030%: −$14.69
Slippage, 4 orders: −$70.66
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$108.35
Costs to cover: 0.937%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Bybit: live order book, 6 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, 6 min ago	2.20 bp	31.0 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	0.22 bp	6.5 bp −$6	9.0 bp −$90	52.7 bp −$5,268	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	226.33	−0.157%	$482K	$571K	20x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	226.29	−0.176%	$12.4M	$15.1M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.23	−0.203%	$14.1M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.22	−0.207%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.29	−0.176%	$15.2M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.40	−0.128%	$22K	$422K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.96	−0.322%	$2K	$3.7M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.24	−0.199%	$53K	$1.8M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.46	−0.101%	$198K	$452K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.69	long leg	$2.2M	$42K	10x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0017%	1h	226.19	−0.220%	$117K	$51K	10x	as long as short
Variational Omni NVDA	+0.0018%	8h	226.38	−0.139%	$3.5M	$2.2M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.26	−0.190%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.41	−0.124%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.13	−0.247%	$146.9M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.19	−0.221%	$393K	$283K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.17	−0.229%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.05	−0.282%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.30	−0.172%	$1.3M	$9.1M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	226.13	−0.247%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0086%	8h	226.27	−0.185%	$154.3M	$219.6M	50x	as long as short
Lighter NVDA	+0.0088%	1h	226.24	−0.199%	$2.1M	$3.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.19	−0.220%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.34	−0.154%	$1.6M	$750K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.25	−0.194%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.27	−0.185%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.28	−0.180%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.26	−0.190%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.176%	$1.3M	$789K	10x	as long as short
Lighter RH NVDA	+0.0128%	1h	226.38	−0.137%	$5.0M	$6.9M	20x	as long as short
Nado NVDA-PERP	+0.0136%	1h	226.20	−0.214%	$480K	$226K	20x	as long as short
BloFin NVDA-USDT	+0.0207%	8h	226.43	−0.115%	$714K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.01	+0.141%	$73K	$137	30x	as long as short
Extended NVDA_24_5-USD	+0.0456%	1h	226.15	−0.238%	$667K	$762K	10x	as long as short
edgeX NVDAUSDC	+0.0491%	4h	226.35	−0.152%	$170K	$1.9M	20x	as long as short