Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.019%

Price spread now: Variational Omni against Phemex−0.006%7-day average −0.033% · you buy dearer than you sell

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

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 3 days (all we have)+0.110%+$11 · spread now −0.006%, 7d avg −0.033%

Together, before fees+0.129%+ Points / potential airdropVariational Omni: Active · farm board+$13 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: Variational Omni is 0.028% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.20	0	get 0.0000% / 4h	2h 21m	$2.2M	$41K	10x
Short	Variational Omni NVDA	227.19	0	get 0.0000% / 8h	2h 21m	$3.5M	$2.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.006%Rate

Funding earned: $0
Price spread: −0.006% → −0.033%: $2.77
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.23
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 2 min ago; Variational Omni: RFQ quote, 3 min ago. 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	1.10 bp	38.5 bp −$39	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.80 bp	doesn't fit	4.3 bp −$43	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
Aster NVDAUSDT	0.0000%	8h	227.08	−0.052%	$473K	$550K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.15	−0.022%	$12.7M	$15.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.14	−0.026%	$14.4M	$21.2M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.11	−0.040%	$7.2M	$9.4M	100x	as long as short
Variational Omni NVDAshort	0.0000%	8h	227.19	−0.006%	$3.5M	$2.3M	—
GRVT NVDA_USDT_Perp	0.0000%	8h	227.18	−0.010%	$21K	$468K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.84	−0.158%	$3K	$4.0M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.09	−0.048%	$49K	$1.5M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.22	+0.009%	$202K	$528K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.20	long leg	$2.2M	$41K	10x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NVDAUSDT	+0.0001%	8h	227.16	−0.016%	$156.2M	$220.7M	50x	as long as short
BloFin NVDA-USDT	+0.0003%	8h	227.17	−0.013%	$712K	$205K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.08	−0.052%	$118K	$54K	10x	as long as short
Hotstuff NVDA-PERP	+0.0024%	1h	227.01	−0.084%	$35K	—	20x	as long as short
QFEX NVDA-USD	+0.0030%	1h	227.14	−0.026%	$1.6M	$11.3M	10x	as long as short
Lighter RH NVDA	+0.0032%	1h	227.29	+0.040%	$4.9M	$7.0M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.06	−0.061%	$522K	$409K	10x	as long as short
Nado NVDA-PERP	+0.0044%	1h	227.07	−0.056%	$487K	$223K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.24	+0.018%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.02	−0.079%	$147.1M	$50.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.15	−0.022%	$390K	$235K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.02	−0.079%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.01	−0.084%	$1.6M	$2.1M	15x	as long as short
Bitget NVDAUSDT	+0.0059%	8h	227.18	−0.009%	$15.5M	$18.3M	100x	as long as short
Phoenix NVDA	+0.0070%	1h	227.11	−0.040%	$93K	$112K	20x	as long as short
Lighter NVDA	+0.0080%	1h	227.20	+0.001%	$2.1M	$3.3M	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.16	−0.017%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.05	−0.064%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.17	−0.013%	$1.6M	$752K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.07	−0.057%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.14	−0.026%	$36K	$22K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	227.01	−0.084%	$1.3M	$911K	10x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.48	+0.123%	$73K	$136	30x	as long as short
Arcus NVDA-USD	+0.0419%	1h	227.14	−0.026%	$395K	$683K	20x	as long as short
edgeX NVDAUSDC	+0.0789%	4h	227.16	−0.016%	$170K	$1.9M	20x	as long as short