Funding you earn now, next payment 05:00 UTC+0.0078%/8h= +8.6% APRnext payment +$0.10 per $10,000 · paid last 24h −0.002%
Price spread now: Lighter RH against Phoenix−0.018%7-day average +0.079% · you buy dearer than you sell
Net, funding: paid 7d − costs−$22as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$210.207% of the position
Funding, last 7 days−0.017%−$2 on $10k
+Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.018%, 7d avg +0.079%
=Together, before fees+0.091%+ Points / potential airdropLighter RH: Points live · farm board+$9 on $10k · with fees, hour by hour
Funding pays, the price is against you. Lighter RH is 0.097% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.018% now, against its 7-day average of +0.079%). If the spread goes back, that is −$10 on $10k: about 4.1 days of funding at the current rate (+$2 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NVDA | 226.58 | 0.0106 | pay 0.0013% / 1h | 55m 31s | $93K | $112K | 20x |
| Short | Lighter RH NVDA | 226.54 | 0.0184 | get 0.0023% / 1h | 55m 31s | $5.0M | $6.9M | 20x |
Phoenix NVDA
Lighter RH NVDAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- $16.4
- Price spread: −0.018% → +0.079%
- −$9.7
- Slippage, 4 orders
- −$13.67
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$13.97
- Costs to cover
- 0.207%
- Break-even
- 13.0 days
Slippage from Phoenix: live order book, 45 min ago; Lighter RH: live order book, 3 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, 45 min ago | 3.09 bp | 9.3 bp −$9 | 20.0 bp −$200 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 3 min ago | 0.88 bp | 0.9 bp −$1 | 3.5 bp −$35 | 31.2 bp −$3,118 | 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 | 226.50 | −0.033% | $482K | $571K | 20x | as long as short |
| Bybit NVDAUSDT | 0.0000% | 8h | 226.44 | −0.062% | $12.4M | $15.0M | 100x | as long as short |
| OKX NVDA-USDT-SWAP | 0.0000% | 8h | 226.44 | −0.062% | $14.2M | $20.5M | 50x | as long as short |
| Gate NVDA_USDT | 0.0000% | 8h | 226.40 | −0.079% | $7.2M | $9.7M | 100x | as long as short |
| Bitget NVDAUSDT | 0.0000% | 8h | 226.47 | −0.049% | $15.2M | $16.3M | 100x | as long as short |
| GRVT NVDA_USDT_Perp | 0.0000% | 8h | 226.55 | −0.012% | $21K | $416K | 10x | as long as short |
| SunX NVDA-USDT | 0.0000% | 8h | 226.18 | −0.177% | $2K | $3.7M | 20x | as long as short |
| HTX NVDA-USDT | 0.0000% | 8h | 226.72 | +0.062% | $198K | $455K | 30x | as long as short |
| Phemex NVDAUSDT | 0.0000% | 4h | 226.66 | +0.035% | $2.2M | $42K | 10x | as long as short |
| Variational Omni NVDA | +0.0012% | 8h | 226.43 | −0.068% | $3.6M | $2.1M | — | as long as short |
Aster NVDAUSDT
Bybit NVDAUSDT
OKX NVDA-USDT-SWAP
Gate NVDA_USDT
Bitget NVDAUSDT
GRVT NVDA_USDT_Perp
SunX NVDA-USDT
HTX NVDA-USDT
Phemex NVDAUSDT
Variational Omni NVDAShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps NVDAUSD | +0.0012% | 1h | 226.39 | −0.082% | $117K | $52K | 10x | as long as short |
| Arcus NVDA-USD | +0.0040% | 1h | 226.50 | −0.035% | $398K | $734K | 20x | as long as short |
| Vest NVDA-USD-PERP | +0.0046% | 1h | 226.54 | −0.018% | — | $74K | 25x | as long as short |
| tradeXYZ xyz:NVDA | +0.0050% | 1h | 226.32 | −0.115% | $147.0M | $43.6M | 20x | as long as short |
| Polymarket Perps NVDA-USD | +0.0050% | 1h | 226.39 | −0.084% | $398K | $279K | 10x | as long as short |
| SoDEX NVDA-USD | +0.0050% | 1h | 226.33 | −0.110% | $59K | $19K | 10x | as long as short |
| Ondo Perps NVDA-USD.P | +0.0050% | 1h | 226.48 | −0.044% | $1.6M | $2.0M | 15x | as long as short |
| QFEX NVDA-USD | +0.0056% | 1h | 226.40 | −0.079% | $1.3M | $9.1M | 10x | as long as short |
| Hotstuff NVDA-PERP | +0.0064% | 1h | 226.50 | −0.035% | $35K | — | 20x | as long as short |
| Binance NVDAUSDT | +0.0084% | 8h | 226.48 | −0.044% | $154.3M | $219.1M | 50x | as long as short |
| Pacifica NVDA | +0.0100% | 1h | 226.28 | −0.131% | $297K | $48K | 10x | as long as short |
| KuCoin NVDAUSDTM | +0.0100% | 8h | 226.49 | −0.040% | $1.6M | $745K | 20x | as long as short |
| ApeX Omni NVDAUSDT | +0.0100% | 1h | 226.34 | −0.106% | $16K | $44K | 50x | as long as short |
| Orderly PERP_NVDA_USDC | +0.0100% | 8h | 226.44 | −0.062% | $36K | $21K | 20x | as long as short |
| Lighter NVDA | +0.0104% | 1h | 226.40 | −0.081% | $2.1M | $3.3M | 20x | as long as short |
| Aevo NVDA-PERP | +0.0104% | 1h | 226.47 | −0.049% | — | — | 10x | as long as short |
| Phoenix NVDAlong | +0.0106% | 1h | 226.58 | long leg | $93K | $112K | 20x | |
| Coinbase International NVDA-PERP-INTX | +0.0112% | 1h | 226.29 | −0.128% | $1.3M | $789K | 10x | as long as short |
| Nado NVDA-PERP | +0.0150% | 1h | 226.27 | −0.138% | $481K | $226K | 20x | as long as short |
| Lighter RH NVDAshort | +0.0184% | 1h | 226.54 | −0.018% | $5.0M | $6.9M | 20x | |
| BloFin NVDA-USDT | +0.0203% | 8h | 226.61 | +0.013% | $715K | $194K | 20x | as long as short |
| Injective NVDA/USDC PERP | +0.0220% | 1h | 226.95 | +0.163% | $73K | $135 | 30x | as long as short |
| Deribit NVDA_USDC-PERPETUAL | +0.0236% | 1h | 226.37 | −0.093% | $52K | $1.8M | 10x | as long as short |
| edgeX NVDAUSDC | +0.0318% | 4h | 226.63 | +0.022% | $170K | $1.9M | 20x | as long as short |
| Extended NVDA_24_5-USD | +0.0408% | 1h | 226.28 | −0.132% | $668K | $767K | 10x | as long as short |
Aftermath Perps NVDAUSD
Arcus NVDA-USD
Vest NVDA-USD-PERP
tradeXYZ xyz:NVDA
Polymarket Perps NVDA-USD
SoDEX NVDA-USD
Ondo Perps NVDA-USD.P
QFEX NVDA-USD
Hotstuff NVDA-PERP
Binance NVDAUSDT
Pacifica NVDA
KuCoin NVDAUSDTM
ApeX Omni NVDAUSDT
Orderly PERP_NVDA_USDC
Lighter NVDA
Aevo NVDA-PERP
Coinbase International NVDA-PERP-INTX
Nado NVDA-PERP
BloFin NVDA-USDT
Injective NVDA/USDC PERP
Deribit NVDA_USDC-PERPETUAL
edgeX NVDAUSDC
Extended NVDA_24_5-USD