Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0136%/8h= +14.9% APRpaid last 24h +0.037%

Price spread now: Coinbase International against Phemex−0.216%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.206%+$21 on $10k

Price spread, last 4 days (all we have)+0.166%+$17 · spread now −0.216%, 7d avg −0.090%

Together, before fees+0.373%+$37 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.126% cheaper against Phemex than usual: you would sell low and buy high (spread −0.216% now, against its 7-day average of −0.090%). If the spread goes back, that is −$13 on $10k: about 3.1 days 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	226.97	0	get 0.0000% / 4h	3h 00m	$2.2M	$41K	10x
Short	Coinbase International NVDA-PERP-INTX	226.48	0.0136	get 0.0017% / 1h	0m 56s	$1.3M	$682K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.216%Rate

Funding earned: $28.56
Price spread: −0.216% → −0.090%: −$12.58
Slippage, 4 orders: −$53.69
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$59.71
Costs to cover: 0.757%
Break-even: 21.6 days

Slippage from Phemex: live order book, 2 min ago; Coinbase International: 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 Phemex live order book, 2 min ago	1.54 bp	28.3 bp −$28	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	1.76 bp	9.2 bp −$9	11.2 bp −$112	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	226.93	−0.018%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.91	−0.026%	$14.2M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.90	−0.031%	$7.2M	$10.1M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.98	+0.004%	$15.7M	$16.0M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.71	−0.115%	$2K	$3.5M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.00	+0.013%	$198K	$436K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.97	long leg	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0011%	1h	226.84	−0.059%	$118K	$51K	10x	as long as short
Lighter NVDA	+0.0032%	1h	226.88	−0.038%	$2.1M	$3.3M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	226.72	−0.110%	$640K	$873K	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	226.93	−0.018%	$392K	$739K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0044%	8h	226.92	−0.020%	$21K	$432K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.09	+0.053%	—	$74K	25x	as long as short
Hotstuff NVDA-PERP	+0.0048%	1h	226.79	−0.079%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.78	−0.084%	$147.7M	$44.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.86	−0.048%	$392K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.82	−0.066%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.75	−0.097%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.95	−0.009%	$1.3M	$9.1M	10x	as long as short
Nado NVDA-PERP	+0.0073%	1h	226.82	−0.065%	$482K	$221K	20x	as long as short
Aster NVDAUSDT	+0.0079%	8h	226.96	−0.004%	$485K	$543K	20x	as long as short
Lighter RH NVDA	+0.0088%	1h	227.04	+0.031%	$5.1M	$7.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.78	−0.082%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.74	−0.101%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.96	−0.004%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0105%	8h	226.92	−0.023%	$3.2M	$2.5M	—	as long as short
KuCoin NVDAUSDTM	+0.0119%	8h	226.93	−0.018%	$1.6M	$1.0M	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.96	−0.002%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTXshort	+0.0136%	1h	226.48	−0.216%	$1.3M	$682K	10x
Binance NVDAUSDT	+0.0165%	8h	226.96	−0.004%	$155.6M	$223.1M	50x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0191%	1h	226.88	−0.040%	$53K	$1.9M	10x	as long as short
Phoenix NVDA	+0.0212%	1h	226.84	−0.057%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.96	−0.004%	$73K	$139	30x	as long as short
BloFin NVDA-USDT	+0.0285%	8h	227.01	+0.018%	$715K	$202K	20x	as long as short
edgeX NVDAUSDC	+0.0730%	4h	226.94	−0.012%	$171K	$1.9M	20x	as long as short