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 0.000%

Price spread now: SunX against Phemex−0.265%7-day average −0.150% · you buy dearer than you sell

Net, funding: paid 7d − costs−$215as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2152.148% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.188%+$19 · spread now −0.265%, 7d avg −0.150%

Together, before fees+0.188%+$19 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: SunX is 0.115% cheaper against Phemex than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.150%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.41	0	get 0.0000% / 4h	3h 33m	$2.2M	$41K	10x
Short	SunX NVDA-USDT	225.81	0	get 0.0000% / 8h	7h 33m	$2K	$3.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.265%Rate

Funding earned: $0
Price spread: −0.265% → −0.150%: −$11.51
Slippage, 4 orders: −$194.85
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$226.36
Costs to cover: 2.148%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; SunX: live order book, 5 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, 5 min ago	0.88 bp	38.5 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	57.05 bp	61.0 bp −$61	90.8 bp −$908	doesn't fit	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	226.09	−0.141%	$12.5M	$14.7M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.11	−0.133%	$14.1M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.09	−0.141%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.19	−0.097%	$15.8M	$16.1M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.18	−0.104%	$22K	$428K	10x	as long as short
SunX NVDA-USDTshort	0.0000%	8h	225.81	−0.265%	$2K	$3.5M	20x
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.07	−0.150%	$53K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.32	−0.040%	$198K	$437K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.41	long leg	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0011%	1h	226.08	−0.148%	$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	226.07	−0.151%	$2.1M	$3.2M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	226.00	−0.181%	$643K	$873K	10x	as long as short
Lighter RH NVDA	+0.0040%	1h	226.26	−0.066%	$5.1M	$7.0M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.12	−0.128%	$391K	$738K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.29	−0.053%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.00	−0.181%	$146.8M	$43.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	225.99	−0.186%	$390K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.02	−0.172%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	225.97	−0.194%	$1.6M	$1.9M	15x	as long as short
Nado NVDA-PERP	+0.0058%	1h	226.06	−0.153%	$480K	$222K	20x	as long as short
Aster NVDAUSDT	+0.0070%	8h	226.14	−0.118%	$481K	$544K	20x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.15	−0.115%	$1.3M	$9.1M	10x	as long as short
Pacifica NVDA	+0.0100%	1h	226.06	−0.154%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.13	−0.124%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.11	−0.133%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0100%	8h	226.16	−0.111%	$3.2M	$2.5M	—	as long as short
KuCoin NVDAUSDTM	+0.0103%	8h	226.20	−0.093%	$1.6M	$953K	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.12	−0.129%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.09	−0.141%	$1.3M	$688K	10x	as long as short
Binance NVDAUSDT	+0.0155%	8h	226.14	−0.119%	$154.9M	$221.1M	50x	as long as short
Hotstuff NVDA-PERP	+0.0184%	1h	226.06	−0.155%	$35K	—	20x	as long as short
Phoenix NVDA	+0.0212%	1h	226.04	−0.163%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.54	+0.057%	$73K	$137	30x	as long as short
BloFin NVDA-USDT	+0.0275%	8h	226.15	−0.115%	$715K	$198K	20x	as long as short
edgeX NVDAUSDC	+0.0570%	4h	226.14	−0.117%	$170K	$1.9M	20x	as long as short