Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h −0.015%

Price spread now: Hotstuff against Phemex−0.092%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.092% cheaper against Phemex than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 9.6 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	227.51	0	get 0.0000% / 4h	50m 13s	$2.2M	$42K	10x
Short	Hotstuff NVDA-PERP	227.30	0.0032	get 0.0004% / 1h	50m 13s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.092%Rate

Funding earned: $6.72
Price spread: −0.092% → 0.000%: −$9.23
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$19.51
Costs to cover: 0.170%
Break-even: 27.3 days

Slippage unknown: Phemex: live order book, 3 min ago; Hotstuff: no order-book sample. Net counts fees only.

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, 3 min ago	2.42 bp	34.1 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	227.42	−0.040%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.47	−0.018%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.44	−0.031%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.37	−0.062%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.46	−0.023%	$3.5M	$2.1M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.49	−0.009%	$20K	$426K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.93	−0.255%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	−0.013%	$198K	$525K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.51	long leg	$2.2M	$42K	10x
Aftermath Perps NVDAUSD	+0.0028%	1h	227.46	−0.020%	$118K	$55K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.24	−0.117%	$536K	$446K	10x	as long as short
Hotstuff NVDA-PERPshort	+0.0032%	1h	227.30	−0.092%	$35K	—	20x
Binance NVDAUSDT	+0.0038%	8h	227.47	−0.018%	$156.3M	$220.2M	50x	as long as short
Bitget NVDAUSDT	+0.0041%	8h	227.46	−0.022%	$15.6M	$17.7M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.49	−0.009%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.31	−0.088%	$147.3M	$48.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.34	−0.075%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.31	−0.088%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.26	−0.110%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.45	−0.026%	$1.6M	$11.4M	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.46	−0.022%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.220%	$1.3M	$862K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.30	−0.092%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.49	−0.009%	$1.6M	$746K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	−0.092%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.41	−0.044%	$36K	$22K	20x	as long as short
Nado NVDA-PERP	+0.0102%	1h	227.28	−0.099%	$483K	$228K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.34	−0.075%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.31	−0.088%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0148%	8h	227.50	−0.004%	$672K	$204K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.73	+0.097%	$73K	$135	30x	as long as short
Lighter RH NVDA	+0.0232%	1h	227.59	+0.035%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0240%	1h	227.48	−0.013%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0366%	1h	227.40	−0.048%	$49K	$1.4M	10x	as long as short
edgeX NVDAUSDC	+0.0697%	4h	227.47	−0.017%	$170K	$1.9M	20x	as long as short