Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h −0.042%

Price spread now: HTX against Phoenix+0.070%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$410.408% of the position

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.251%−$25 on $10k

Price spread, last 3 days (all we have)−0.051%−$5 · spread now +0.070%, 7d avg +0.003%

Together, before fees−0.302%−$30 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.067% dearer against Phoenix than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of +0.003%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NVDA	227.28	0.0106	pay 0.0013% / 1h	20m 28s	$93K	$112K	20x
Short	HTX NVDA-USDT	227.44	0	get 0.0000% / 8h	20m 28s	$198K	$521K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$22.17
Price spread: +0.070% → +0.003%: $6.72
Slippage, 4 orders: −$21.84
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$56.3
Costs to cover: 0.408%
Break-even: never at this rate

Slippage from Phoenix: live order book, 49 min ago; HTX: live order book, 58 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, 49 min ago	2.64 bp	8.6 bp −$9	18.0 bp −$180	doesn't fit	doesn't fit
Sell HTX live order book, 58 min ago	0.22 bp	10.6 bp −$11	12.5 bp −$125	32.3 bp −$3,229	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	227.35	+0.030%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.36	+0.035%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.33	+0.022%	$14.4M	$21.0M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.30	+0.009%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.32	+0.019%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.38	+0.044%	$21K	$412K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.86	−0.185%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDTshort	0.0000%	8h	227.44	+0.070%	$198K	$521K	30x
Phemex NVDAUSDT	0.0000%	4h	227.40	+0.053%	$2.2M	$42K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0014%	1h	227.29	+0.004%	$49K	$1.5M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0026%	1h	227.18	−0.044%	$118K	$56K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.22	−0.026%	$535K	$447K	10x	as long as short
Bitget NVDAUSDT	+0.0032%	8h	227.36	+0.035%	$15.5M	$17.5M	100x	as long as short
Binance NVDAUSDT	+0.0036%	8h	227.37	+0.038%	$156.2M	$220.2M	50x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.38	+0.044%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.22	−0.026%	$147.8M	$48.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.27	−0.004%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.22	−0.026%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.16	−0.053%	$1.6M	$2.1M	15x	as long as short
Nado NVDA-PERP	+0.0060%	1h	227.26	−0.007%	$483K	$229K	20x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.25	−0.013%	$1.6M	$11.5M	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.35	+0.032%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.119%	$1.3M	$845K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.24	−0.016%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.42	+0.062%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	+0.009%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.30	+0.009%	$36K	$22K	20x	as long as short
Phoenix NVDAlong	+0.0106%	1h	227.28	long leg	$93K	$112K	20x
Hotstuff NVDA-PERP	+0.0112%	1h	227.22	−0.026%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.19	−0.040%	$399K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0147%	8h	227.35	+0.031%	$715K	$205K	20x	as long as short
Lighter RH NVDA	+0.0200%	1h	227.51	+0.101%	$5.1M	$7.2M	20x	as long as short
Lighter NVDA	+0.0208%	1h	227.37	+0.039%	$2.1M	$3.3M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.73	+0.198%	$73K	$137	30x	as long as short
edgeX NVDAUSDC	+0.0475%	4h	227.34	+0.025%	$170K	$1.9M	20x	as long as short