Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%

Price spread now: tradeXYZ against Phemex−0.106%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$105as in the Price arb table

costs, in and out, $10k−$1031.031% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.106%, 7d avg −0.082%

Together, before fees+0.253%+ Points / potential airdroptradeXYZ: Active · farm board+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.024% cheaper against Phemex than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of −0.082%). If the spread goes back, that is −$2 on $10k: about 38 hours 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	227.47	0	get 0.0000% / 4h	3h 43m	$2.2M	$43K	10x
Short	tradeXYZ xyz:NVDA	227.23	0.0050	get 0.0006% / 1h	43m 30s	$147.7M	$43.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.106%Rate

Funding earned: $10.5
Price spread: −0.106% → −0.082%: −$2.39
Slippage, 4 orders: −$73.06
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$94.95
Costs to cover: 1.031%
Break-even: 70.3 days

Slippage from Phemex: live order book, 5 min ago; tradeXYZ: live order book, 6 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	1.10 bp	44.1 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.44 bp	9.4 bp −$9	10.4 bp −$104	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	227.39	−0.035%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.37	−0.044%	$14.3M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.33	−0.062%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.42	−0.022%	$15.4M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.44	−0.014%	$20K	$392K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.99	−0.211%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.52	+0.022%	$198K	$465K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.47	long leg	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0012%	1h	227.28	−0.082%	$118K	$53K	10x	as long as short
Aster NVDAUSDT	+0.0019%	8h	227.43	−0.018%	$483K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NVDA-USD	+0.0040%	1h	227.35	−0.053%	$399K	$741K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.36	−0.048%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.48	+0.004%	—	$74K	25x	as long as short
Hotstuff NVDA-PERP	+0.0048%	1h	227.27	−0.088%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDAshort	+0.0050%	1h	227.23	−0.106%	$147.7M	$43.4M	20x
Polymarket Perps NVDA-USD	+0.0050%	1h	227.35	−0.053%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.24	−0.101%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.23	−0.106%	$1.6M	$2.0M	15x	as long as short
Variational Omni NVDA	+0.0051%	8h	227.48	+0.002%	$3.6M	$2.2M	—	as long as short
Lighter NVDA	+0.0056%	1h	227.36	−0.048%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0058%	1h	227.29	−0.079%	$49K	$1.7M	10x	as long as short
Nado NVDA-PERP	+0.0064%	1h	227.27	−0.089%	$483K	$227K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.26	−0.092%	$298K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.28	−0.084%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.34	−0.057%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.35	−0.051%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0105%	8h	227.40	−0.031%	$156.0M	$215.9M	50x	as long as short
KuCoin NVDAUSDTM	+0.0108%	8h	227.41	−0.026%	$1.6M	$727K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.53	+0.026%	$1.3M	$775K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.30	−0.075%	$93K	$112K	20x	as long as short
Lighter RH NVDA	+0.0152%	1h	227.51	+0.018%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.83	+0.158%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0226%	8h	227.43	−0.018%	$719K	$201K	20x	as long as short
Extended NVDA_24_5-USD	+0.0232%	1h	227.20	−0.119%	$673K	$779K	10x	as long as short
edgeX NVDAUSDC	+0.0310%	4h	227.48	+0.005%	$171K	$1.9M	20x	as long as short