Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Phemex−0.119%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.119% cheaper against Phemex than usual: you would sell low and buy high (spread −0.119% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 7.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.61	0	get 0.0000% / 4h	1h 49m	$2.2M	$42K	10x
Short	SoDEX NVDA-USD	226.34	0.0050	get 0.0006% / 1h	49m 20s	$59K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.119%Rate

Funding earned: $10.5
Price spread: −0.119% → 0.000%: −$11.91
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$21.41
Costs to cover: 0.200%
Break-even: 21.3 days

Slippage unknown: Phemex: live order book, 4 min ago; SoDEX: 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, 4 min ago	2.20 bp	38.6 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Bybit NVDAUSDT	0.0000%	8h	226.52	−0.040%	$12.4M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.51	−0.044%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.46	−0.066%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.54	−0.031%	$15.2M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.48	−0.056%	$22K	$422K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.14	−0.207%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.72	+0.049%	$198K	$454K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.61	long leg	$2.2M	$42K	10x
Aster NVDAUSDT	0.0000%	8h	226.53	−0.034%	$482K	$571K	20x	as long as short
Hotstuff NVDA-PERP	+0.0008%	1h	226.38	−0.101%	$35K	—	20x	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	+0.0013%	1h	226.33	−0.121%	$117K	$52K	10x	as long as short
Variational Omni NVDA	+0.0014%	8h	226.44	−0.076%	$3.6M	$2.1M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.42	−0.084%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.55	−0.026%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.38	−0.101%	$147.1M	$43.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.45	−0.071%	$398K	$279K	10x	as long as short
SoDEX NVDA-USDshort	+0.0050%	1h	226.34	−0.119%	$59K	$19K	10x
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.30	−0.137%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.47	−0.062%	$1.3M	$9.1M	10x	as long as short
Binance NVDAUSDT	+0.0087%	8h	226.53	−0.033%	$154.4M	$219.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.33	−0.123%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.53	−0.035%	$1.6M	$748K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.31	−0.132%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.47	−0.062%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.50	−0.047%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.34	−0.119%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.141%	$1.3M	$789K	10x	as long as short
Lighter NVDA	+0.0120%	1h	226.46	−0.065%	$2.1M	$3.3M	20x	as long as short
Nado NVDA-PERP	+0.0151%	1h	226.27	−0.150%	$481K	$226K	20x	as long as short
Lighter RH NVDA	+0.0168%	1h	226.60	−0.004%	$5.1M	$6.9M	20x	as long as short
BloFin NVDA-USDT	+0.0205%	8h	226.45	−0.071%	$716K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.74	+0.057%	$73K	$136	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0324%	1h	226.45	−0.071%	$52K	$1.8M	10x	as long as short
Extended NVDA_24_5-USD	+0.0424%	1h	226.26	−0.154%	$667K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0903%	4h	226.48	−0.059%	$170K	$1.9M	20x	as long as short