Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against SoDEX+0.053%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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 0.053% dearer against SoDEX than usual: you sell high and buy low (spread +0.053% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX NVDA-USD	227.42	0.0050	pay 0.0006% / 1h	50m 58s	$59K	$16K	10x
Short	Phemex NVDAUSDT	227.54	0	get 0.0000% / 4h	1h 50m	$2.2M	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$10.5
Price spread: +0.053% → 0.000%: $5.28
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$25.22
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 6 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 SoDEX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	1.76 bp	42.3 bp −$42	doesn't fit	doesn't fit	doesn't fit

SoDEX: 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 exchanges

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	−0.1600%	1h	225.99	−0.629%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.59	+0.075%	$12.8M	$15.9M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.62	+0.088%	$14.4M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.49	+0.031%	$7.2M	$9.1M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.65	+0.101%	$15.7M	$16.1M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.13	−0.128%	$2K	$3.4M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.39	−0.013%	$16K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.49	+0.031%	$199K	$400K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.54	+0.053%	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0013%	1h	227.31	−0.049%	$118K	$52K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0019%	8h	227.47	+0.021%	$20K	$432K	10x	as long as short
Lighter NVDA	+0.0032%	1h	227.50	+0.035%	$2.1M	$3.1M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.35	−0.029%	$613K	$939K	10x	as long as short
Aster NVDAUSDT	+0.0035%	8h	227.52	+0.045%	$484K	$565K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.45	+0.013%	$1.3M	$9.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.67	+0.110%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.46	+0.018%	$149.0M	$45.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.44	+0.009%	$392K	$242K	10x	as long as short
SoDEX NVDA-USDlong	+0.0050%	1h	227.42	long leg	$59K	$16K	10x
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.26	−0.070%	$1.5M	$2.0M	15x	as long as short
Lighter RH NVDA	+0.0088%	1h	227.66	+0.106%	$5.1M	$7.1M	20x	as long as short
Nado NVDA-PERP	+0.0090%	1h	227.42	−0.002%	$478K	$210K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.34	−0.033%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.31	−0.048%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.49	+0.031%	$36K	$19K	20x	as long as short
Variational Omni NVDA	+0.0110%	8h	227.33	−0.041%	$3.3M	$2.4M	—	as long as short
Aevo NVDA-PERP	+0.0120%	1h	227.50	+0.036%	—	—	10x	as long as short
edgeX NVDAUSDC	+0.0129%	4h	227.41	−0.002%	$171K	$1.9M	20x	as long as short
KuCoin NVDAUSDTM	+0.0131%	8h	227.44	+0.009%	$1.6M	$1.3M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.45	−0.427%	$1.3M	$657K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.35	−0.031%	$93K	$82K	20x	as long as short
Binance NVDAUSDT	+0.0165%	8h	227.59	+0.073%	$156.1M	$224.7M	50x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.53	+0.048%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0285%	8h	227.50	+0.035%	$727K	$203K	20x	as long as short
Arcus NVDA-USD	+0.0320%	1h	227.46	+0.018%	$384K	$704K	20x	as long as short