NVDA

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0020%/8h= +2.2% APRnext payment +$0.03 per $10,000 · paid last 24h +0.023%

Price spread now: Phoenix against Polymarket Perps−0.048%59s7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.279% of the position

Long on Polymarket Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 3 days (all we have)+0.052%+$5 · spread now −0.048%, 7d avg +0.015%

Together, before fees+0.196%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.063% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.048% now, against its 7-day average of +0.015%). If the spread goes back, that is −$6 on $10k: about 10 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.144% in total) that is about 3.1 days. The two prices were read 59 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	Polymarket Perps NVDA-USD	227.36	0.0050	pay 0.0006% / 1h	32m 18s	$401K	$290K	10x
Short	Phoenix NVDA	227.25	0.0070	get 0.0009% / 1h	32m 18s	$93K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Polymarket Perps. 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 Polymarket PerpsbpFee PhoenixbpOrdersPrice spread, now −0.048%Rate

Funding earned: $4.3
Price spread: −0.048% → +0.015%: −$6.34
Slippage, 4 orders: −$12.86
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$29.9
Costs to cover: 0.279%
Break-even: 55.7 days

Slippage from Polymarket Perps: live order book, 50 min ago; Phoenix: live order book, 42 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 Polymarket Perps live order book, 50 min ago	1.32 bp	5.3 bp −$5	7.0 bp −$70	18.9 bp −$1,886	doesn't fit
Sell Phoenix live order book, 42 min ago	2.64 bp	8.6 bp −$9	18.0 bp −$180	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
Hotstuff NVDA-PERP	−0.0008%	1h	227.31	−0.022%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	227.49	+0.057%	$474K	$578K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.46	+0.044%	$12.7M	$15.6M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.47	+0.048%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.42	+0.026%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.43	+0.030%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.46	+0.046%	$20K	$441K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.05	−0.136%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.41	+0.022%	$202K	$522K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.52	+0.070%	$2.2M	$41K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NVDAUSDT	+0.0004%	8h	227.50	+0.062%	$156.2M	$220.8M	50x	as long as short
Aftermath Perps NVDAUSD	+0.0011%	1h	227.28	−0.033%	$118K	$55K	10x	as long as short
Bitget NVDAUSDT	+0.0020%	8h	227.51	+0.066%	$15.6M	$17.9M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.26	−0.042%	$522K	$409K	10x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.45	+0.040%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.53	+0.075%	—	$73K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.31	−0.022%	$147.3M	$49.6M	20x	as long as short
Polymarket Perps NVDA-USDlong	+0.0050%	1h	227.36	long leg	$401K	$290K	10x
SoDEX NVDA-USD	+0.0050%	1h	227.32	−0.018%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.30	−0.026%	$1.6M	$2.1M	15x	as long as short
BloFin NVDA-USDT	+0.0058%	8h	227.48	+0.053%	$714K	$205K	20x	as long as short
Phoenix NVDAshort	+0.0070%	1h	227.25	−0.048%	$93K	$112K	20x
edgeX NVDAUSDC	+0.0074%	4h	227.49	+0.056%	$170K	$1.9M	20x	as long as short
Aevo NVDA-PERP	+0.0080%	1h	227.48	+0.052%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0080%	1h	227.31	−0.022%	$484K	$227K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.154%	$1.3M	$888K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.32	−0.018%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.44	+0.035%	$1.6M	$754K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	−0.026%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.45	+0.040%	$36K	$22K	20x	as long as short
Lighter RH NVDA	+0.0128%	1h	227.59	+0.101%	$4.9M	$7.0M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0146%	1h	227.41	+0.022%	$49K	$1.5M	10x	as long as short
Lighter NVDA	+0.0152%	1h	227.48	+0.055%	$2.1M	$3.2M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.61	+0.110%	$73K	$136	30x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.36	0.000%	$388K	$709K	20x	as long as short