Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.041%

Price spread now: Lighter RH against Phemex+0.026%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$700.696% of the position

Long on Phemex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.226%+$23 on $10k

Price spread, last 4 days (all we have)+0.244%+$24 · spread now +0.026%, 7d avg +0.030%

Together, before fees+0.469%+ Points / potential airdropLighter RH: Points live · farm board+$47 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.72	0	get 0.0000% / 4h	1h 06m	$2.2M	$43K	10x
Short	Lighter RH NVDA	227.78	0.0208	get 0.0026% / 1h	6m 37s	$5.1M	$7.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.026%Rate

Funding earned: $43.68
Price spread: +0.026% → +0.030%: −$0.37
Slippage, 4 orders: −$57.56
Fee Phemex: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$26.25
Costs to cover: 0.696%
Break-even: 11.2 days

Slippage from Phemex: live order book, 2 min ago; Lighter RH: live order book, 2 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	1.76 bp	36.3 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	0.88 bp	0.9 bp −$1	3.6 bp −$36	32.8 bp −$3,285	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	227.63	−0.040%	$12.6M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.66	−0.026%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.60	−0.053%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.68	−0.018%	$15.5M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.23	−0.215%	$3K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.018%	$198K	$475K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.72	long leg	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	227.55	−0.077%	$118K	$54K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	227.50	−0.097%	$35K	—	20x	as long as short
Aster NVDAUSDT	+0.0024%	8h	227.68	−0.017%	$483K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0031%	8h	227.69	−0.013%	$21K	$386K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.57	−0.066%	$406K	$746K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.62	−0.044%	$1.4M	$9.5M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.75	+0.013%	—	$74K	25x	as long as short
Variational Omni NVDA	+0.0049%	8h	227.62	−0.044%	$3.5M	$2.1M	—	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.51	−0.092%	$147.9M	$43.7M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.63	−0.040%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.51	−0.092%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.43	−0.127%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.53	−0.083%	$1.3M	$776K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.48	−0.103%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.52	−0.088%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.64	−0.035%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.65	−0.030%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.57	−0.066%	$94K	$112K	20x	as long as short
Binance NVDAUSDT	+0.0108%	8h	227.68	−0.019%	$156.2M	$215.2M	50x	as long as short
Nado NVDA-PERP	+0.0130%	1h	227.52	−0.088%	$483K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0143%	8h	227.69	−0.013%	$1.6M	$723K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.63	−0.040%	$2.2M	$3.3M	20x	as long as short
Lighter RH NVDAshort	+0.0208%	1h	227.78	+0.026%	$5.1M	$7.1M	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.98	+0.114%	$73K	$139	30x	as long as short
BloFin NVDA-USDT	+0.0228%	8h	227.70	−0.009%	$722K	$201K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0234%	1h	227.60	−0.053%	$49K	$1.6M	10x	as long as short
Extended NVDA_24_5-USD	+0.0416%	1h	227.46	−0.114%	$686K	$733K	10x	as long as short
edgeX NVDAUSDC	+0.0652%	4h	227.68	−0.019%	$170K	$1.9M	20x	as long as short