Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.066%

Price spread now: Injective against Phemex+0.075%65s7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.401%+$40 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Injective is 0.075% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.37	0	get 0.0000% / 4h	49m 48s	$2.2M	$41K	10x
Short	Injective NVDA/USDC PERP	227.54	0.0220	get 0.0028% / 1h	49m 48s	$73K	$135	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.075%Rate

Funding earned: $46.2
Price spread: +0.075% → 0.000%: $7.48
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $41.66
Costs to cover: 0.120%
Break-even: 0.7 days

Slippage unknown: Phemex: live order book, 2 min ago; Injective: 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, 2 min ago	1.54 bp	43.7 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 exchanges

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	−0.1600%	1h	227.26	−0.048%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.15	−0.097%	$12.5M	$16.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.15	−0.097%	$14.6M	$21.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.11	−0.114%	$7.2M	$9.1M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.19	−0.079%	$15.6M	$15.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.76	−0.268%	$2K	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.04	−0.145%	$16K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.07	−0.132%	$198K	$399K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.37	long leg	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	227.34	−0.013%	$117K	$51K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.04	−0.145%	$608K	$932K	10x	as long as short
QFEX NVDA-USD	+0.0038%	1h	227.34	−0.013%	$1.3M	$9.0M	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0042%	8h	227.45	+0.033%	$20K	$418K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.44	+0.031%	—	$74K	25x	as long as short
Lighter NVDA	+0.0048%	1h	227.16	−0.093%	$2.0M	$3.1M	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.01	−0.158%	$149.2M	$44.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.28	−0.040%	$395K	$257K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.13	−0.106%	$59K	$16K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.16	−0.092%	$1.5M	$2.0M	15x	as long as short
Aster NVDAUSDT	+0.0052%	8h	227.24	−0.057%	$483K	$565K	20x	as long as short
Arcus NVDA-USD	+0.0083%	1h	227.27	−0.044%	$383K	$721K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.18	−0.084%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.28	−0.040%	$16K	$45K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.17	−0.088%	$36K	$19K	20x	as long as short
Aevo NVDA-PERP	+0.0128%	1h	227.23	−0.061%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.00	−0.163%	$1.3M	$665K	10x	as long as short
Nado NVDA-PERP	+0.0133%	1h	227.20	−0.074%	$478K	$198K	20x	as long as short
Variational Omni NVDA	+0.0137%	8h	227.30	−0.029%	$3.3M	$2.4M	—	as long as short
KuCoin NVDAUSDTM	+0.0154%	8h	227.30	−0.031%	$1.6M	$1.6M	20x	as long as short
Phoenix NVDA	+0.0176%	1h	227.31	−0.026%	$93K	$83K	20x	as long as short
Lighter RH NVDA	+0.0176%	1h	227.29	−0.035%	$5.3M	$7.1M	20x	as long as short
Binance NVDAUSDT	+0.0187%	8h	227.15	−0.097%	$155.1M	$225.9M	50x	as long as short
Injective NVDA/USDC PERPshort	+0.0220%	1h	227.54	+0.075%	$73K	$135	30x
BloFin NVDA-USDT	+0.0307%	8h	227.38	+0.004%	$748K	$204K	20x	as long as short
edgeX NVDAUSDC	+0.0375%	4h	227.44	+0.030%	$172K	$1.9M	20x	as long as short