Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0212%/8h= −23.2% APRpaid last 24h −0.042%

Price spread now: Phemex against Phoenix+0.168%73s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.242%−$24 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.168% dearer against Phoenix than usual: you sell high and buy low (spread +0.168% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 2.6 days. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NVDA	226.19	0.0212	pay 0.0027% / 1h	46m 11s	$93K	$83K	20x
Short	Phemex NVDAUSDT	226.57	0	get 0.0000% / 4h	3h 46m	$2.2M	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.168%Rate

Funding earned: −$44.57
Price spread: +0.168% → 0.000%: $16.8
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$46.77
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Phemex: live order book, 2 min ago. Net counts fees only.

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 no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	0.88 bp	37.5 bp −$37	doesn't fit	doesn't fit	doesn't fit

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	226.31	+0.053%	$12.5M	$14.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.32	+0.057%	$14.1M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.27	+0.035%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.37	+0.080%	$15.8M	$16.3M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.99	−0.088%	$2K	$3.5M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.25	+0.027%	$53K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.46	+0.119%	$198K	$437K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.57	+0.168%	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0014%	1h	226.20	+0.003%	$117K	$52K	10x	as long as short
Lighter NVDA	+0.0032%	1h	226.29	+0.046%	$2.1M	$3.2M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH NVDA	+0.0040%	1h	226.47	+0.124%	$5.1M	$6.9M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.26	+0.031%	$392K	$736K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.47	+0.124%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.20	+0.004%	$146.9M	$43.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.14	−0.022%	$391K	$242K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.21	+0.009%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.11	−0.035%	$1.6M	$1.9M	15x	as long as short
Nado NVDA-PERP	+0.0054%	1h	226.19	+0.001%	$480K	$223K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0055%	8h	226.45	+0.115%	$21K	$428K	10x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.30	+0.049%	$1.3M	$9.1M	10x	as long as short
Aster NVDAUSDT	+0.0080%	8h	226.36	+0.077%	$482K	$538K	20x	as long as short
Extended NVDA_24_5-USD	+0.0096%	1h	226.20	+0.006%	$644K	$879K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	226.16	−0.015%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.29	+0.044%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.30	+0.049%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0104%	8h	226.46	+0.118%	$3.3M	$2.5M	—	as long as short
Hotstuff NVDA-PERP	+0.0104%	1h	226.30	+0.049%	$35K	—	20x	as long as short
KuCoin NVDAUSDTM	+0.0109%	8h	226.32	+0.057%	$1.6M	$903K	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.32	+0.056%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.29	+0.044%	$1.3M	$696K	10x	as long as short
Binance NVDAUSDT	+0.0166%	8h	226.36	+0.074%	$155.1M	$220.9M	50x	as long as short
Phoenix NVDAlong	+0.0212%	1h	226.19	long leg	$93K	$83K	20x
Injective NVDA/USDC PERP	+0.0220%	1h	226.97	+0.345%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0286%	8h	226.36	+0.075%	$711K	$197K	20x	as long as short
edgeX NVDAUSDC	+0.0520%	4h	226.38	+0.086%	$171K	$1.9M	20x	as long as short