Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Phemex−0.057%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$790.795% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.044%+$4 · spread now −0.057%, 7d avg −0.063%

Together, before fees+0.153%+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.063%, 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	227.01	0	get 0.0000% / 4h	8m 08s	$2.2M	$41K	10x
Short	Polymarket Perps NVDA-USD	226.88	0.0050	get 0.0006% / 1h	8m 08s	$394K	$252K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.057%Rate

Funding earned: $10.5
Price spread: −0.057% → −0.063%: $0.58
Slippage, 4 orders: −$59.45
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$68.38
Costs to cover: 0.795%
Break-even: 52.6 days

Slippage from Phemex: live order book, 3 min ago; Polymarket Perps: live order book, 32 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	4.84 bp	28.9 bp −$29	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 32 min ago	2.42 bp	6.4 bp −$6	7.5 bp −$75	9.0 bp −$902	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	226.81	−0.088%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.94	−0.031%	$12.5M	$16.6M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.95	−0.026%	$14.5M	$21.8M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.89	−0.053%	$7.2M	$9.4M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.00	−0.004%	$15.7M	$15.5M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.99	−0.009%	$20K	$425K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.58	−0.189%	$2K	$3.2M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.81	−0.088%	$16K	$1.8M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.94	−0.031%	$198K	$396K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.01	long leg	$2.2M	$41K	10x

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0016%	1h	226.88	−0.057%	$117K	$51K	10x	as long as short
Aster NVDAUSDT	+0.0022%	8h	226.93	−0.037%	$482K	$566K	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	226.76	−0.110%	$608K	$925K	10x	as long as short
QFEX NVDA-USD	+0.0038%	1h	226.94	−0.031%	$1.3M	$9.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.10	+0.040%	—	$75K	25x	as long as short
Lighter NVDA	+0.0048%	1h	226.88	−0.057%	$2.0M	$3.1M	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.79	−0.097%	$149.1M	$44.1M	20x	as long as short
Polymarket Perps NVDA-USDshort	+0.0050%	1h	226.88	−0.057%	$394K	$252K	10x
SoDEX NVDA-USD	+0.0050%	1h	226.82	−0.084%	$59K	$17K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.81	−0.088%	$1.5M	$2.0M	15x	as long as short
Arcus NVDA-USD	+0.0083%	1h	226.89	−0.053%	$383K	$721K	20x	as long as short
Nado NVDA-PERP	+0.0092%	1h	226.84	−0.075%	$477K	$197K	20x	as long as short
Variational Omni NVDA	+0.0099%	8h	226.94	−0.030%	$3.2M	$2.4M	—	as long as short
Pacifica NVDA	+0.0100%	1h	226.78	−0.102%	$298K	$57K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.88	−0.057%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.88	−0.057%	$36K	$18K	20x	as long as short
Lighter RH NVDA	+0.0120%	1h	227.05	+0.018%	$5.2M	$7.2M	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.93	−0.036%	—	—	10x	as long as short
edgeX NVDAUSDC	+0.0126%	4h	227.08	+0.032%	$173K	$2.0M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.95	−0.026%	$1.3M	$681K	10x	as long as short
Binance NVDAUSDT	+0.0152%	8h	226.94	−0.031%	$154.9M	$226.4M	50x	as long as short
KuCoin NVDAUSDTM	+0.0173%	8h	227.00	−0.004%	$1.6M	$1.7M	20x	as long as short
Phoenix NVDA	+0.0176%	1h	226.88	−0.057%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.46	+0.198%	$73K	$138	30x	as long as short
BloFin NVDA-USDT	+0.0275%	8h	227.01	0.000%	$697K	$178K	20x	as long as short