Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0083%/8h= −9.0% APRpaid last 24h −0.019%

Price spread now: Bitget against Phoenix+0.004%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on Phoenix Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now +0.004%, 7d avg +0.048%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bitget is 0.043% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NVDA	227.47	0.0106	pay 0.0013% / 1h	3m 12s	$94K	$112K	20x
Short	Bitget NVDAUSDT	227.48	0.0023	get 0.0023% / 8h	3m 12s	$15.5M	$17.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phoenix. 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 PhoenixbpFee BitgetbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$17.34
Price spread: +0.004% → +0.048%: −$4.33
Slippage, 4 orders: −$14.65
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$55.33
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from Phoenix: live order book, 2 min ago; Bitget: 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 Phoenix live order book, 2 min ago	3.08 bp	9.4 bp −$9	20.8 bp −$208	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	0.22 bp	7.5 bp −$8	10.3 bp −$103	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	227.51	+0.017%	$482K	$586K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.48	+0.004%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.42	−0.022%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.38	−0.040%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.52	+0.024%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.55	+0.033%	$20K	$405K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.01	−0.202%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.53	+0.026%	$197K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.53	+0.026%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0016%	1h	227.33	−0.060%	$118K	$56K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NVDAUSDTshort	+0.0023%	8h	227.48	+0.004%	$15.5M	$17.4M	100x
Extended NVDA_24_5-USD	+0.0032%	1h	227.37	−0.045%	$535K	$447K	10x	as long as short
Binance NVDAUSDT	+0.0037%	8h	227.45	−0.009%	$156.3M	$219.3M	50x	as long as short
Hotstuff NVDA-PERP	+0.0040%	1h	227.36	−0.048%	$35K	—	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.64	+0.075%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.32	−0.066%	$147.8M	$48.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.45	−0.009%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.35	−0.053%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.29	−0.079%	$1.6M	$2.1M	15x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0058%	1h	227.44	−0.013%	$49K	$1.4M	10x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.49	+0.009%	$1.6M	$11.5M	10x	as long as short
Nado NVDA-PERP	+0.0061%	1h	227.39	−0.034%	$484K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.46	−0.004%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.202%	$1.3M	$842K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.36	−0.049%	$298K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.43	−0.018%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.42	−0.022%	$36K	$22K	20x	as long as short
Phoenix NVDAlong	+0.0106%	1h	227.47	long leg	$94K	$112K	20x
KuCoin NVDAUSDTM	+0.0112%	8h	227.50	+0.013%	$1.6M	$742K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.32	−0.066%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0148%	8h	227.46	−0.004%	$714K	$205K	20x	as long as short
Lighter NVDA	+0.0176%	1h	227.47	0.000%	$2.2M	$3.3M	20x	as long as short
Lighter RH NVDA	+0.0176%	1h	227.61	+0.062%	$5.1M	$7.2M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.67	+0.088%	$73K	$140	30x	as long as short
edgeX NVDAUSDC	+0.0498%	4h	227.48	+0.003%	$171K	$1.9M	20x	as long as short