Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.024%

Price spread now: Extended against Phemex−0.110%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$750.749% of the position

Long on Phemex Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 3 days (all we have)+0.135%+$14 · spread now −0.110%, 7d avg −0.071%

Together, before fees+0.241%+ Points / potential airdropExtended: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.039% cheaper against Phemex than usual: you would sell low and buy high (spread −0.110% now, against its 7-day average of −0.071%). If the spread goes back, that is −$4 on $10k: about 4.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.10	0	get 0.0000% / 4h	2h 09m	$2.2M	$41K	10x
Short	Extended NVDA_24_5-USD	226.85	0.0032	get 0.0004% / 1h	9m 54s	$522K	$409K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.110%Rate

Funding earned: $6.72
Price spread: −0.110% → −0.071%: −$3.91
Slippage, 4 orders: −$57.92
Fee Phemex: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$72.11
Costs to cover: 0.749%
Break-even: 82.1 days

Slippage from Phemex: live order book, 4 min ago; Extended: live order book, 13 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	34.0 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 13 min ago	0.22 bp	4.9 bp −$5	22.5 bp −$225	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
Hotstuff NVDA-PERP	−0.0032%	1h	226.93	−0.075%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.95	−0.067%	$473K	$550K	20x	as long as short
Binance NVDAUSDT	0.0000%	8h	227.01	−0.040%	$156.1M	$220.8M	50x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.99	−0.048%	$12.6M	$15.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.00	−0.044%	$14.4M	$21.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.96	−0.062%	$7.2M	$9.4M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.08	−0.008%	$3.5M	$2.4M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.11	+0.004%	$21K	$468K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.72	−0.167%	$2K	$4.0M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.95	−0.066%	$49K	$1.5M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX NVDA-USDT	0.0000%	8h	227.13	+0.013%	$202K	$527K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.10	long leg	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0014%	1h	227.02	−0.035%	$118K	$54K	10x	as long as short
QFEX NVDA-USD	+0.0030%	1h	227.02	−0.035%	$1.6M	$11.3M	10x	as long as short
Lighter RH NVDA	+0.0032%	1h	227.14	+0.018%	$4.8M	$7.0M	20x	as long as short
Extended NVDA_24_5-USDshort	+0.0032%	1h	226.85	−0.110%	$522K	$409K	10x
Vest NVDA-USD-PERP	+0.0046%	1h	227.13	+0.013%	—	$73K	25x	as long as short
Bitget NVDAUSDT	+0.0046%	8h	226.99	−0.048%	$15.6M	$18.3M	100x	as long as short
Nado NVDA-PERP	+0.0048%	1h	226.90	−0.089%	$487K	$226K	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.88	−0.097%	$147.0M	$50.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.00	−0.044%	$400K	$261K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.89	−0.092%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.84	−0.114%	$1.6M	$2.1M	15x	as long as short
Phoenix NVDA	+0.0070%	1h	227.01	−0.040%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.01	−0.039%	—	—	10x	as long as short
Lighter NVDA	+0.0088%	1h	227.03	−0.031%	$2.1M	$3.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.89	−0.094%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.05	−0.022%	$1.6M	$753K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.06	−0.018%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.98	−0.053%	$36K	$22K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	227.01	−0.040%	$1.3M	$911K	10x	as long as short
BloFin NVDA-USDT	+0.0120%	8h	227.07	−0.013%	$714K	$205K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.44	+0.150%	$73K	$137	30x	as long as short
Arcus NVDA-USD	+0.0419%	1h	226.99	−0.048%	$384K	$695K	20x	as long as short
edgeX NVDAUSDC	+0.0820%	4h	227.14	+0.017%	$170K	$1.9M	20x	as long as short