NVDA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.3% APRnext payment −$0.06 per $10,000 · paid last 24h +0.005%

Price spread now: Deribit against Phoenix−0.004%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$330.333% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.059%+$6 on $10k

Price spread, last 3 days (all we have)−0.015%−$1 · spread now −0.004%, 7d avg −0.006%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.006%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 5 days funding on this pair paid +0.059%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NVDA	227.83	0.0106	pay 0.0013% / 1h	8m 28s	$94K	$112K	20x
Short	Deribit NVDA_USDC-PERPETUAL	227.82	0.0057	get 0.0007% / 1h	8m 28s	$49K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$10.12
Price spread: −0.004% → −0.006%: $0.16
Slippage, 4 orders: −$19.26
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$43.23
Costs to cover: 0.333%
Break-even: never at this rate

Slippage from Phoenix: live order book, 56 min ago; Deribit: 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, 56 min ago	3.08 bp	9.4 bp −$9	20.8 bp −$208	doesn't fit	doesn't fit
Sell Deribit live order book, 6 min ago	3.29 bp	7.2 bp −$7	7.5 bp −$75	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	227.70	−0.055%	$483K	$581K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.90	+0.031%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.89	+0.026%	$14.4M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.84	+0.004%	$7.2M	$9.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.49	−0.149%	$3K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.96	+0.057%	$198K	$509K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.93	+0.044%	$2.2M	$43K	10x	as long as short
Variational Omni NVDA	+0.0004%	8h	227.82	−0.006%	$3.5M	$1.9M	—	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	227.71	−0.051%	$118K	$55K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.72	−0.048%	$524K	$469K	10x	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	227.73	−0.044%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.86	+0.013%	$1.5M	$11.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.98	+0.066%	—	$74K	25x	as long as short
Bitget NVDAUSDT	+0.0046%	8h	227.95	+0.053%	$15.5M	$16.9M	100x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.75	−0.035%	$147.9M	$45.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.84	+0.004%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.74	−0.040%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.69	−0.061%	$1.5M	$2.1M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.75	−0.035%	$35K	—	20x	as long as short
Deribit NVDA_USDC-PERPETUALshort	+0.0057%	1h	227.82	−0.004%	$49K	$1.5M	10x
Binance NVDAUSDT	+0.0078%	8h	227.91	+0.036%	$156.5M	$217.2M	50x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.162%	$1.3M	$800K	10x	as long as short
Nado NVDA-PERP	+0.0086%	1h	227.76	−0.030%	$484K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0096%	1h	227.86	+0.014%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.72	−0.046%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.71	−0.053%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.86	+0.013%	$36K	$22K	20x	as long as short
Phoenix NVDAlong	+0.0106%	1h	227.83	long leg	$94K	$112K	20x
KuCoin NVDAUSDTM	+0.0142%	8h	227.92	+0.040%	$1.6M	$735K	20x	as long as short
Lighter NVDA	+0.0152%	1h	227.92	+0.039%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0152%	1h	228.04	+0.092%	$5.1M	$7.1M	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0165%	8h	227.94	+0.048%	$20K	$392K	10x	as long as short
BloFin NVDA-USDT	+0.0195%	8h	227.90	+0.031%	$718K	$206K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.20	+0.162%	$73K	$140	30x	as long as short
edgeX NVDAUSDC	+0.0995%	4h	227.83	−0.001%	$170K	$1.9M	20x	as long as short