Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h −0.016%

Price spread now: Phemex against Aftermath Perps+0.122%7-day average +0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$109as in the Price arb table

costs, in and out, $10k−$1131.134% of the position

Long on Aftermath Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.096%+$10 on $10k

Price spread, last 3 days (all we have)−0.071%−$7 · spread now +0.122%, 7d avg +0.076%

Together, before fees+0.026%+$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.045% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.122% now, against its 7-day average of +0.076%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 13 days. Mind the row above: over the last 3 days funding on this pair paid +0.096%, 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	Aftermath Perps NVDAUSD	227.67	0.0012	pay 0.0001% / 1h	17m 18s	$118K	$54K	10x
Short	Phemex NVDAUSDT	227.95	0	get 0.0000% / 4h	2h 17m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aftermath Perps. 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 Aftermath PerpsbpFee PhemexbpOrdersPrice spread, now +0.122%Rate

Funding earned: −$2.5
Price spread: +0.122% → +0.076%: $4.54
Slippage, 4 orders: −$92.44
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$111.4
Costs to cover: 1.134%
Break-even: never at this rate

Slippage from Aftermath Perps: live order book, 52 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 Aftermath Perps live order book, 52 min ago	4.00 bp	20.2 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	3.29 bp	44.7 bp −$45	doesn't fit	doesn't fit	doesn't fit

NVDA on 34 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	227.78	+0.049%	$484K	$590K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.87	+0.086%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.88	+0.091%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.80	+0.056%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.90	+0.100%	$15.4M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.35	−0.142%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.96	+0.126%	$198K	$494K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.95	+0.122%	$2.2M	$43K	10x
Aftermath Perps NVDAUSDlong	+0.0012%	1h	227.67	long leg	$118K	$54K	10x
GRVT NVDA_USDT_Perp	+0.0020%	8h	227.82	+0.064%	$20K	$388K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0022%	8h	227.79	+0.053%	$3.5M	$2.0M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.68	+0.003%	$400K	$723K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.85	+0.078%	$1.4M	$10.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.98	+0.135%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.72	+0.021%	$148.1M	$44.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.82	+0.064%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.72	+0.021%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.67	−0.001%	$1.6M	$2.0M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.74	+0.029%	$35K	—	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.094%	$1.3M	$786K	10x	as long as short
Nado NVDA-PERP	+0.0081%	1h	227.77	+0.043%	$484K	$229K	20x	as long as short
Binance NVDAUSDT	+0.0084%	8h	227.90	+0.100%	$156.4M	$215.8M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.73	+0.025%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.69	+0.007%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.83	+0.069%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0101%	1h	227.78	+0.047%	$49K	$1.5M	10x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.86	+0.082%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.66	−0.006%	$94K	$112K	20x	as long as short
Lighter NVDA	+0.0120%	1h	227.87	+0.085%	$2.2M	$3.2M	20x	as long as short
KuCoin NVDAUSDTM	+0.0131%	8h	227.91	+0.104%	$1.6M	$736K	20x	as long as short
Lighter RH NVDA	+0.0144%	1h	228.00	+0.144%	$5.1M	$7.0M	20x	as long as short
Extended NVDA_24_5-USD	+0.0168%	1h	227.69	+0.005%	$689K	$714K	10x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.09	+0.183%	$73K	$138	30x	as long as short
edgeX NVDAUSDC	+0.0460%	4h	227.77	+0.042%	$170K	$1.9M	20x	as long as short