Funding you earn now, next payment 02:00 UTC+0.0071%/8h= +7.7% APRnext payment +$0.09 per $10,000 · paid last 24h 0.000%
Price spread now: Lighter against Phoenix+0.052%7-day average +0.023% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$180.181% of the position
Funding, last 7 days+0.051%+$5 on $10k
+Price spread, last 4 days (all we have)−0.015%−$1 · spread now +0.052%, 7d avg +0.023%
=Together, before fees+0.036%+ Points / potential airdropLighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.028% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.023%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NVDA | 227.50 | 0.0105 | pay 0.0013% / 1h | 33m 16s | $94K | $112K | 20x |
| Short | Lighter NVDA | 227.62 | 0.0176 | get 0.0022% / 1h | 33m 16s | $2.2M | $3.2M | 20x |
Phoenix NVDA
Lighter NVDAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $14.81
- Price spread: +0.052% → +0.023%
- $2.84
- Slippage, 4 orders
- −$11.1
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$0.45
- Costs to cover
- 0.181%
- Break-even
- 7.2 days
Slippage from Phoenix: live order book, 22 min ago; Lighter: live order book, 4 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, 22 min ago | 2.63 bp | 8.6 bp −$9 | 18.2 bp −$182 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 4 min ago | 0.31 bp | 0.3 bp $0 | 0.9 bp −$9 | 8.9 bp −$890 | 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 | 227.62 | +0.053% | $12.7M | $14.8M | 100x | as long as short |
| OKX NVDA-USDT-SWAP | 0.0000% | 8h | 227.59 | +0.040% | $14.4M | $20.2M | 50x | as long as short |
| Gate NVDA_USDT | 0.0000% | 8h | 227.57 | +0.031% | $7.2M | $9.6M | 100x | as long as short |
| Bitget NVDAUSDT | 0.0000% | 8h | 227.65 | +0.066% | $15.5M | $16.4M | 100x | as long as short |
| GRVT NVDA_USDT_Perp | 0.0000% | 8h | 227.67 | +0.077% | $20K | $384K | 10x | as long as short |
| SunX NVDA-USDT | 0.0000% | 8h | 227.13 | −0.163% | $2K | $3.7M | 20x | as long as short |
| HTX NVDA-USDT | 0.0000% | 8h | 227.76 | +0.114% | $198K | $479K | 30x | as long as short |
| Phemex NVDAUSDT | 0.0000% | 4h | 227.66 | +0.070% | $2.2M | $43K | 10x | as long as short |
| Aster NVDAUSDT | +0.0010% | 8h | 227.69 | +0.082% | $483K | $590K | 20x | as long as short |
| Aftermath Perps NVDAUSD | +0.0011% | 1h | 227.49 | −0.004% | $118K | $54K | 10x | as long as short |
Bybit NVDAUSDT
OKX NVDA-USDT-SWAP
Gate NVDA_USDT
Bitget NVDAUSDT
GRVT NVDA_USDT_Perp
SunX NVDA-USDT
HTX NVDA-USDT
Phemex NVDAUSDT
Aster NVDAUSDT
Aftermath Perps NVDAUSDShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni NVDA | +0.0034% | 8h | 227.71 | +0.093% | $3.5M | $2.1M | — | as long as short |
| Arcus NVDA-USD | +0.0040% | 1h | 227.70 | +0.088% | $406K | $719K | 20x | as long as short |
| QFEX NVDA-USD | +0.0044% | 1h | 227.64 | +0.062% | $1.4M | $9.6M | 10x | as long as short |
| Vest NVDA-USD-PERP | +0.0046% | 1h | 227.70 | +0.088% | — | $74K | 25x | as long as short |
| tradeXYZ xyz:NVDA | +0.0050% | 1h | 227.46 | −0.018% | $147.9M | $44.2M | 20x | as long as short |
| Polymarket Perps NVDA-USD | +0.0050% | 1h | 227.58 | +0.035% | $401K | $277K | 10x | as long as short |
| SoDEX NVDA-USD | +0.0050% | 1h | 227.46 | −0.018% | $58K | $19K | 10x | as long as short |
| Ondo Perps NVDA-USD.P | +0.0050% | 1h | 227.41 | −0.040% | $1.6M | $2.0M | 15x | as long as short |
| Coinbase International NVDA-PERP-INTX | +0.0072% | 1h | 227.46 | −0.018% | $1.3M | $776K | 10x | as long as short |
| Binance NVDAUSDT | +0.0094% | 8h | 227.65 | +0.066% | $156.2M | $215.1M | 50x | as long as short |
| Pacifica NVDA | +0.0100% | 1h | 227.48 | −0.010% | $299K | $60K | 10x | as long as short |
| ApeX Omni NVDAUSDT | +0.0100% | 1h | 227.47 | −0.013% | $16K | $44K | 50x | as long as short |
| Orderly PERP_NVDA_USDC | +0.0100% | 8h | 227.61 | +0.048% | $36K | $22K | 20x | as long as short |
| Aevo NVDA-PERP | +0.0104% | 1h | 227.60 | +0.046% | — | — | 10x | as long as short |
| Phoenix NVDAlong | +0.0105% | 1h | 227.50 | long leg | $94K | $112K | 20x | |
| Hotstuff NVDA-PERP | +0.0112% | 1h | 227.45 | −0.022% | $35K | — | 20x | as long as short |
| Nado NVDA-PERP | +0.0123% | 1h | 227.49 | −0.003% | $483K | $228K | 20x | as long as short |
| KuCoin NVDAUSDTM | +0.0132% | 8h | 227.69 | +0.084% | $1.6M | $723K | 20x | as long as short |
| Lighter NVDAshort | +0.0176% | 1h | 227.62 | +0.052% | $2.2M | $3.2M | 20x | |
| BloFin NVDA-USDT | +0.0212% | 8h | 227.66 | +0.070% | $722K | $202K | 20x | as long as short |
| Lighter RH NVDA | +0.0216% | 1h | 227.75 | +0.110% | $5.1M | $7.0M | 20x | as long as short |
| Injective NVDA/USDC PERP | +0.0220% | 1h | 227.99 | +0.215% | $73K | $137 | 30x | as long as short |
| Deribit NVDA_USDC-PERPETUAL | +0.0322% | 1h | 227.58 | +0.035% | $49K | $1.6M | 10x | as long as short |
| Extended NVDA_24_5-USD | +0.0328% | 1h | 227.43 | −0.031% | $689K | $718K | 10x | as long as short |
| edgeX NVDAUSDC | +0.0532% | 4h | 227.64 | +0.062% | $170K | $1.9M | 20x | as long as short |
Variational Omni NVDA
Arcus NVDA-USD
QFEX NVDA-USD
Vest NVDA-USD-PERP
tradeXYZ xyz:NVDA
Polymarket Perps NVDA-USD
SoDEX NVDA-USD
Ondo Perps NVDA-USD.P
Coinbase International NVDA-PERP-INTX
Binance NVDAUSDT
Pacifica NVDA
ApeX Omni NVDAUSDT
Orderly PERP_NVDA_USDC
Aevo NVDA-PERP
Hotstuff NVDA-PERP
Nado NVDA-PERP
KuCoin NVDAUSDTM
BloFin NVDA-USDT
Lighter RH NVDA
Injective NVDA/USDC PERP
Deribit NVDA_USDC-PERPETUAL
Extended NVDA_24_5-USD
edgeX NVDAUSDC