Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against SunX+0.230%7-day average +0.150% · you sell dearer than you buy

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1431.426% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.153%−$15 · spread now +0.230%, 7d avg +0.150%

Together, before fees−0.153%−$15 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.080% dearer against SunX than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.150%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NVDA-USDT	226.07	0	get 0.0000% / 8h	7h 47m	$2K	$3.5M	20x
Short	Phemex NVDAUSDT	226.59	0	get 0.0000% / 4h	3h 47m	$2.2M	$41K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.230%Rate

Funding earned: $0
Price spread: +0.230% → +0.150%: $8.01
Slippage, 4 orders: −$122.64
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$134.63
Costs to cover: 1.426%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Phemex: live order book, 1 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, 11 min ago	21.88 bp	38.5 bp −$38	67.8 bp −$678	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	0.88 bp	37.5 bp −$37	doesn't fit	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
Bybit NVDAUSDT	0.0000%	8h	226.33	+0.115%	$12.5M	$14.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.39	+0.142%	$14.1M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.31	+0.106%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.39	+0.142%	$15.8M	$16.3M	100x	as long as short
SunX NVDA-USDTlong	0.0000%	8h	226.07	long leg	$2K	$3.5M	20x
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.28	+0.093%	$53K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.45	+0.168%	$198K	$437K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.59	+0.230%	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0014%	1h	226.21	+0.061%	$117K	$51K	10x	as long as short
Lighter NVDA	+0.0032%	1h	226.29	+0.100%	$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	+0.0032%	1h	226.46	+0.173%	$5.1M	$6.9M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.35	+0.124%	$392K	$737K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.51	+0.195%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.22	+0.066%	$146.9M	$43.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.25	+0.080%	$391K	$242K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.23	+0.071%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.22	+0.066%	$1.6M	$1.9M	15x	as long as short
Nado NVDA-PERP	+0.0053%	1h	226.33	+0.116%	$481K	$223K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0055%	8h	226.45	+0.168%	$21K	$428K	10x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.36	+0.128%	$1.3M	$9.1M	10x	as long as short
Aster NVDAUSDT	+0.0080%	8h	226.39	+0.142%	$482K	$538K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.25	+0.080%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.29	+0.097%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.37	+0.133%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0104%	8h	226.46	+0.171%	$3.3M	$2.5M	—	as long as short
Hotstuff NVDA-PERP	+0.0104%	1h	226.30	+0.102%	$35K	—	20x	as long as short
KuCoin NVDAUSDTM	+0.0110%	8h	226.39	+0.142%	$1.6M	$898K	20x	as long as short
Extended NVDA_24_5-USD	+0.0112%	1h	226.20	+0.057%	$644K	$879K	10x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.35	+0.123%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.29	+0.097%	$1.3M	$696K	10x	as long as short
Binance NVDAUSDT	+0.0166%	8h	226.38	+0.137%	$155.1M	$220.8M	50x	as long as short
Phoenix NVDA	+0.0212%	1h	226.19	+0.053%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.97	+0.398%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0286%	8h	226.36	+0.128%	$711K	$197K	20x	as long as short
edgeX NVDAUSDC	+0.0520%	4h	226.38	+0.139%	$171K	$1.9M	20x	as long as short