Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.003%

Price spread now: OKX against Phemex−0.128%7-day average −0.024% · 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−$88as in the Price arb table

costs, in and out, $10k−$780.776% of the position

Long on Phemex Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$13 on $10k

Price spread, last 4 days (all we have)+0.304%+$30 · spread now −0.128%, 7d avg −0.024%

Together, before fees+0.438%+$44 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: OKX is 0.104% cheaper against Phemex than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.37	0	get 0.0000% / 4h	3h 29m	$2.2M	$41K	10x
Short	OKX NVDA-USDT-SWAP	226.08	0	get 0.0000% / 8h	7h 29m	$14.1M	$20.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.128%Rate

Funding earned: $0
Price spread: −0.128% → −0.024%: −$10.4
Slippage, 4 orders: −$55.61
Fee Phemex: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$88
Costs to cover: 0.776%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; OKX: live order book, 4 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	0.66 bp	30.4 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.22 bp	6.5 bp −$7	8.4 bp −$84	17.8 bp −$1,778	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	226.04	−0.146%	$12.5M	$14.7M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	226.08	−0.128%	$14.1M	$20.4M	50x
Gate NVDA_USDT	0.0000%	8h	226.03	−0.150%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.10	−0.119%	$15.8M	$15.9M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.20	−0.075%	$21K	$429K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.80	−0.252%	$2K	$3.5M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.02	−0.155%	$53K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.19	−0.080%	$198K	$437K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.37	long leg	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0011%	1h	226.00	−0.162%	$117K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter NVDA	+0.0032%	1h	226.05	−0.142%	$2.1M	$3.2M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	225.95	−0.187%	$640K	$875K	10x	as long as short
Lighter RH NVDA	+0.0040%	1h	226.22	−0.066%	$5.1M	$7.1M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.01	−0.159%	$391K	$738K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.22	−0.066%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	225.97	−0.177%	$146.7M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	225.90	−0.208%	$390K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	225.95	−0.186%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	225.84	−0.234%	$1.6M	$1.9M	15x	as long as short
Nado NVDA-PERP	+0.0054%	1h	226.01	−0.160%	$480K	$222K	20x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	225.93	−0.194%	$35K	—	20x	as long as short
Aster NVDAUSDT	+0.0064%	8h	226.09	−0.126%	$483K	$544K	20x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.02	−0.155%	$1.3M	$9.1M	10x	as long as short
Variational Omni NVDA	+0.0095%	8h	226.20	−0.076%	$3.2M	$2.5M	—	as long as short
Pacifica NVDA	+0.0100%	1h	225.96	−0.183%	$297K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.10	−0.119%	$1.6M	$972K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.07	−0.133%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.08	−0.128%	$36K	$20K	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.06	−0.138%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.00	−0.163%	$1.3M	$688K	10x	as long as short
Binance NVDAUSDT	+0.0150%	8h	226.10	−0.121%	$154.8M	$221.3M	50x	as long as short
Phoenix NVDA	+0.0212%	1h	226.04	−0.146%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.54	+0.075%	$73K	$137	30x	as long as short
BloFin NVDA-USDT	+0.0270%	8h	226.12	−0.110%	$713K	$198K	20x	as long as short
edgeX NVDAUSDC	+0.0758%	4h	226.15	−0.098%	$171K	$1.9M	20x	as long as short