Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h +0.028%

Price spread now: Lighter against Variational Omni−0.050%7-day average −0.015% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.051%+$5 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.050%, 7d avg −0.015%

Together, before fees+0.104%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.035% cheaper against Variational Omni than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.015%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.051%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NVDA	226.63	0.0098	pay 0.0098% / 8h	7h 13m	$3.2M	$2.5M	—
Short	Lighter NVDA	226.52	0.0032	get 0.0004% / 1h	13m 49s	$2.1M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$13.89
Price spread: −0.050% → −0.015%: −$3.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$17.39
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; Lighter: live order book, 4 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 Variational Omni RFQ quote, just now	2.80 bp	doesn't fit	9.9 bp −$99	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.40 bp	0.6 bp −$1	2.1 bp −$21	21.9 bp −$2,189	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	226.55	−0.036%	$12.6M	$14.9M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.57	−0.027%	$14.1M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.54	−0.041%	$7.2M	$10.0M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.60	−0.014%	$15.7M	$16.0M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.25	−0.170%	$21K	$430K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.42	−0.094%	$2K	$3.5M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.28	−0.155%	$198K	$436K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.77	+0.061%	$2.2M	$41K	10x	as long as short
Hotstuff NVDA-PERP	+0.0008%	1h	226.39	−0.107%	$35K	—	20x	as long as short
Aftermath Perps NVDAUSD	+0.0009%	1h	226.17	−0.202%	$117K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter NVDAshort	+0.0032%	1h	226.52	−0.050%	$2.1M	$3.3M	20x
Extended NVDA_24_5-USD	+0.0032%	1h	226.42	−0.093%	$640K	$872K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.66	+0.012%	$392K	$739K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.81	+0.078%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.43	−0.089%	$147.4M	$44.2M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.58	−0.023%	$391K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.46	−0.076%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.32	−0.138%	$1.6M	$1.9M	15x	as long as short
Aster NVDAUSDT	+0.0070%	8h	226.51	−0.052%	$484K	$544K	20x	as long as short
QFEX NVDA-USD	+0.0072%	1h	226.67	+0.017%	$1.3M	$9.1M	10x	as long as short
Nado NVDA-PERP	+0.0073%	1h	226.53	−0.046%	$481K	$221K	20x	as long as short
Lighter RH NVDA	+0.0080%	1h	226.67	+0.017%	$5.1M	$7.2M	20x	as long as short
Variational Omni NVDAlong	+0.0098%	8h	226.63	long leg	$3.2M	$2.5M	—
Pacifica NVDA	+0.0100%	1h	226.53	−0.045%	$297K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.15	−0.213%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.65	+0.008%	$36K	$20K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0103%	1h	226.57	−0.027%	$53K	$1.9M	10x	as long as short
KuCoin NVDAUSDTM	+0.0110%	8h	226.53	−0.045%	$1.6M	$1.0M	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.65	+0.010%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.17	−0.204%	$1.3M	$679K	10x	as long as short
Binance NVDAUSDT	+0.0155%	8h	226.60	−0.014%	$155.3M	$222.5M	50x	as long as short
Phoenix NVDA	+0.0212%	1h	226.11	−0.230%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.54	−0.041%	$73K	$138	30x	as long as short
BloFin NVDA-USDT	+0.0275%	8h	226.56	−0.032%	$715K	$200K	20x	as long as short
edgeX NVDAUSDC	+0.0893%	4h	226.32	−0.137%	$171K	$1.9M	20x	as long as short