Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.019%

Price spread now: Phemex against Variational Omni+0.049%7-day average +0.033% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.019%−$2 on $10k

Price spread, last 3 days (all we have)−0.092%−$9 · spread now +0.049%, 7d avg +0.033%

Together, before fees−0.111%+ Points / potential airdropVariational Omni: Active · farm board−$11 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NVDA	227.82	0.0004	pay 0.0004% / 8h	7h 09m	$3.5M	$1.9M	—
Short	Phemex NVDAUSDT	227.93	0	get 0.0000% / 4h	3h 09m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$0.85
Price spread: +0.049% → +0.033%: $1.63
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$11.22
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Phemex: 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, 5 min ago	2.79 bp	doesn't fit	5.4 bp −$54	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.53 bp	31.3 bp −$31	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
Aster NVDAUSDT	0.0000%	8h	227.70	−0.050%	$483K	$581K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.89	+0.032%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.92	+0.045%	$14.4M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.84	+0.010%	$7.2M	$9.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.49	−0.144%	$3K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.96	+0.063%	$198K	$509K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.93	+0.049%	$2.2M	$43K	10x
Variational Omni NVDAlong	+0.0004%	8h	227.82	long leg	$3.5M	$1.9M	—
Aftermath Perps NVDAUSD	+0.0012%	1h	227.71	−0.045%	$118K	$55K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.72	−0.043%	$524K	$469K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NVDA-USD	+0.0040%	1h	227.73	−0.038%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.87	+0.023%	$1.5M	$11.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	228.00	+0.080%	—	$74K	25x	as long as short
Bitget NVDAUSDT	+0.0046%	8h	227.94	+0.054%	$15.5M	$16.9M	100x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.75	−0.030%	$147.9M	$45.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.86	+0.019%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.74	−0.034%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.69	−0.056%	$1.5M	$2.1M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.78	−0.016%	$35K	—	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0057%	1h	227.82	+0.001%	$49K	$1.5M	10x	as long as short
Binance NVDAUSDT	+0.0075%	8h	227.92	+0.044%	$156.5M	$217.2M	50x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.157%	$1.3M	$800K	10x	as long as short
Nado NVDA-PERP	+0.0086%	1h	227.82	+0.002%	$484K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0096%	1h	227.86	+0.020%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.76	−0.025%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.71	−0.047%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.86	+0.019%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.83	+0.006%	$94K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0141%	8h	227.91	+0.041%	$1.6M	$735K	20x	as long as short
Lighter NVDA	+0.0152%	1h	227.92	+0.047%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0152%	1h	228.05	+0.102%	$5.1M	$7.1M	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0165%	8h	227.94	+0.054%	$20K	$392K	10x	as long as short
BloFin NVDA-USDT	+0.0195%	8h	227.90	+0.036%	$718K	$206K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.20	+0.168%	$73K	$140	30x	as long as short
edgeX NVDAUSDC	+0.0995%	4h	227.83	+0.005%	$170K	$1.9M	20x	as long as short