Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.024%

Price spread now: Ondo Perps against Phemex−0.110%7-day average −0.119% · you buy dearer than you sell

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

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 3 days (all we have)+0.076%+$8 · spread now −0.110%, 7d avg −0.119%

Together, before fees+0.177%+ Points / potential airdropOndo Perps: Active · farm board+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.119%, so right now this pair is about funding alone: +$2 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	227.40	0	get 0.0000% / 4h	21m 47s	$2.2M	$42K	10x
Short	Ondo Perps NVDA-USD.P	227.15	0.0050	get 0.0006% / 1h	21m 47s	$1.6M	$2.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.110%Rate

Funding earned: $10.58
Price spread: −0.110% → −0.119%: $0.95
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$5.47
Costs to cover: 0.170%
Break-even: 10.6 days

Slippage unknown: Phemex: live order book, 2 min ago; Ondo Perps: 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	1.32 bp	35.5 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	227.34	−0.026%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.35	−0.022%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.30	−0.044%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.28	−0.053%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.33	−0.031%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.37	−0.013%	$21K	$412K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.87	−0.233%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.44	+0.018%	$198K	$521K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.40	long leg	$2.2M	$42K	10x
Deribit NVDA_USDC-PERPETUAL	+0.0014%	1h	227.30	−0.044%	$49K	$1.4M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0027%	1h	227.17	−0.100%	$118K	$56K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.22	−0.078%	$535K	$447K	10x	as long as short
Bitget NVDAUSDT	+0.0034%	8h	227.36	−0.018%	$15.5M	$17.7M	100x	as long as short
Binance NVDAUSDT	+0.0038%	8h	227.36	−0.018%	$156.2M	$220.2M	50x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.47	+0.031%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.22	−0.079%	$147.8M	$48.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.26	−0.062%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.22	−0.079%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.Pshort	+0.0050%	1h	227.15	−0.110%	$1.6M	$2.1M	15x
QFEX NVDA-USD	+0.0060%	1h	227.31	−0.040%	$1.6M	$11.5M	10x	as long as short
Nado NVDA-PERP	+0.0064%	1h	227.25	−0.064%	$483K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.34	−0.025%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.172%	$1.3M	$845K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.23	−0.076%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.40	0.000%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.28	−0.053%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.30	−0.044%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.26	−0.062%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.17	−0.101%	$399K	$724K	20x	as long as short
Hotstuff NVDA-PERP	+0.0152%	1h	227.22	−0.079%	$35K	—	20x	as long as short
BloFin NVDA-USDT	+0.0156%	8h	227.38	−0.009%	$718K	$205K	20x	as long as short
Lighter RH NVDA	+0.0200%	1h	227.51	+0.048%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0208%	1h	227.39	−0.005%	$2.1M	$3.3M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.73	+0.145%	$73K	$137	30x	as long as short
edgeX NVDAUSDC	+0.0271%	4h	227.32	−0.034%	$170K	$1.9M	20x	as long as short