Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.041%

Price spread now: Lighter RH against SunX+0.234%7-day average +0.176% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on SunX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.228%+$23 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now +0.234%, 7d avg +0.176%

Together, before fees+0.191%+ Points / potential airdropLighter RH: Points live · farm board+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter RH is 0.058% dearer against SunX than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.176%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NVDA-USDT	226.12	0	get 0.0000% / 8h	1h 05m	$2K	$3.6M	20x
Short	Lighter RH NVDA	226.65	0.0152	get 0.0019% / 1h	5m 18s	$5.1M	$7.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against SunX. 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 SunXbpFee Lighter RHbpOrdersPrice spread, now +0.234%Rate

Funding earned: $31.92
Price spread: +0.234% → +0.176%: $5.81
Slippage, 4 orders: −$58.86
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$29.13
Costs to cover: 0.669%
Break-even: 13.4 days

Slippage from SunX: live order book, 3 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 SunX live order book, 3 min ago	21.86 bp	38.5 bp −$38	67.8 bp −$678	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	0.88 bp	1.7 bp −$2	4.1 bp −$41	33.2 bp −$3,322	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	−0.0072%	1h	226.43	+0.137%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.48	+0.159%	$12.4M	$14.6M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.46	+0.150%	$14.1M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.45	+0.146%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.59	+0.208%	$15.6M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.68	+0.248%	$21K	$420K	10x	as long as short
SunX NVDA-USDTlong	0.0000%	8h	226.12	long leg	$2K	$3.6M	20x
HTX NVDA-USDT	0.0000%	8h	226.80	+0.301%	$198K	$449K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.64	+0.230%	$2.2M	$42K	10x	as long as short
Aster NVDAUSDT	+0.0012%	8h	226.41	+0.129%	$482K	$530K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0015%	1h	226.57	+0.201%	$117K	$51K	10x	as long as short
Variational Omni NVDA	+0.0031%	8h	226.57	+0.197%	$3.5M	$2.3M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.56	+0.195%	$399K	$732K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.55	+0.190%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.34	+0.097%	$147.1M	$43.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.42	+0.133%	$391K	$247K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.42	+0.133%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.37	+0.111%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.52	+0.177%	$1.3M	$9.1M	10x	as long as short
Binance NVDAUSDT	+0.0098%	8h	226.49	+0.164%	$154.4M	$218.4M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.36	+0.106%	$297K	$46K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.53	+0.181%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.43	+0.137%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.46	+0.150%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.49	+0.165%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.44	+0.142%	$93K	$112K	20x	as long as short
Lighter NVDA	+0.0112%	1h	226.52	+0.176%	$2.1M	$3.3M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	+0.075%	$1.3M	$723K	10x	as long as short
Nado NVDA-PERP	+0.0135%	1h	226.36	+0.108%	$481K	$224K	20x	as long as short
Lighter RH NVDAshort	+0.0152%	1h	226.65	+0.234%	$5.1M	$7.0M	20x
edgeX NVDAUSDC	+0.0204%	4h	226.64	+0.232%	$170K	$1.9M	20x	as long as short
BloFin NVDA-USDT	+0.0215%	8h	226.57	+0.199%	$710K	$195K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.94	+0.363%	$73K	$140	30x	as long as short
Extended NVDA_24_5-USD	+0.0400%	1h	226.27	+0.066%	$649K	$869K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0413%	1h	226.50	+0.168%	$53K	$1.8M	10x	as long as short