Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.032%

Price spread now: Nado against Phemex−0.081%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$108as in the Price arb table

costs, in and out, $10k−$1041.042% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.046%+$5 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.081%, 7d avg −0.046%

Together, before fees+0.162%+ Points / potential airdropNado: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.035% cheaper against Phemex than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of −0.046%). If the spread goes back, that is −$4 on $10k: about 30 hours of funding at the current rate (+$3 a day). At the pace of the last 4 days (+0.046% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.45	0	get 0.0000% / 4h	1h 53m	$2.2M	$41K	10x
Short	Nado NVDA-PERP	227.26	0.0093	get 0.0012% / 1h	53m 52s	$478K	$210K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.081%Rate

Funding earned: $19.5
Price spread: −0.081% → −0.046%: −$3.52
Slippage, 4 orders: −$85.15
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$88.17
Costs to cover: 1.042%
Break-even: 38.7 days

Slippage from Phemex: live order book, 3 min ago; Nado: live order book, 57 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, 3 min ago	1.76 bp	41.2 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell Nado live order book, 57 min ago	1.10 bp	12.1 bp −$12	25.6 bp −$256	doesn't fit	doesn't fit

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	225.99	−0.642%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.52	+0.031%	$12.8M	$15.9M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.52	+0.031%	$14.4M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.42	−0.013%	$7.2M	$9.1M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.50	+0.022%	$15.6M	$16.1M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.01	−0.193%	$3K	$3.4M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.27	−0.079%	$16K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.49	+0.018%	$199K	$400K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.45	long leg	$2.2M	$41K	10x
GRVT NVDA_USDT_Perp	+0.0011%	8h	227.39	−0.027%	$20K	$432K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0013%	1h	227.28	−0.075%	$118K	$52K	10x	as long as short
Lighter NVDA	+0.0032%	1h	227.34	−0.048%	$2.1M	$3.1M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.28	−0.076%	$613K	$940K	10x	as long as short
Aster NVDAUSDT	+0.0036%	8h	227.30	−0.064%	$484K	$566K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.38	−0.031%	$1.3M	$9.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.54	+0.040%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.32	−0.057%	$148.8M	$45.7M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.31	−0.062%	$392K	$241K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.28	−0.075%	$59K	$16K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.19	−0.114%	$1.5M	$1.9M	15x	as long as short
Lighter RH NVDA	+0.0088%	1h	227.55	+0.044%	$5.1M	$7.1M	20x	as long as short
Nado NVDA-PERPshort	+0.0093%	1h	227.26	−0.081%	$478K	$210K	20x
Pacifica NVDA	+0.0100%	1h	227.24	−0.092%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.22	−0.101%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.38	−0.031%	$36K	$19K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.26	−0.084%	$93K	$82K	20x	as long as short
Variational Omni NVDA	+0.0110%	8h	227.33	−0.054%	$3.3M	$2.4M	—	as long as short
Aevo NVDA-PERP	+0.0120%	1h	227.39	−0.027%	—	—	10x	as long as short
KuCoin NVDAUSDTM	+0.0130%	8h	227.37	−0.035%	$1.6M	$1.3M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.45	−0.440%	$1.3M	$657K	10x	as long as short
Binance NVDAUSDT	+0.0164%	8h	227.50	+0.021%	$156.0M	$224.7M	50x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.53	+0.035%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0282%	8h	227.47	+0.009%	$726K	$203K	20x	as long as short
Arcus NVDA-USD	+0.0320%	1h	227.35	−0.044%	$384K	$704K	20x	as long as short
edgeX NVDAUSDC	+0.0597%	4h	227.32	−0.057%	$171K	$1.9M	20x	as long as short