Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0080%/8h= +8.8% APRpaid last 24h +0.023%

Price spread now: Lighter against Aster+0.015%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$110.113% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)−0.055%−$6 · spread now +0.015%, 7d avg −0.005%

Together, before fees+0.082%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.020% dearer against Aster than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NVDAUSDT	226.47	0	get 0.0000% / 8h	1h 23m	$482K	$571K	20x
Short	Lighter NVDA	226.50	0.0080	get 0.0010% / 1h	23m 27s	$2.1M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.015%Rate

Funding earned: $16.8
Price spread: +0.015% → −0.005%: $2.02
Slippage, 4 orders: −$3.26
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $7.56
Costs to cover: 0.113%
Break-even: 3.8 days

Slippage from Aster: live order book, 19 min ago; Lighter: live order book, 4 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 Aster live order book, 19 min ago	0.22 bp	4.2 bp −$4	7.9 bp −$79	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.46 bp	0.5 bp $0	1.1 bp −$11	7.0 bp −$702	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 NVDAUSDTlong	0.0000%	8h	226.47	long leg	$482K	$571K	20x
Bybit NVDAUSDT	0.0000%	8h	226.52	+0.024%	$12.4M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.53	+0.028%	$14.1M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.50	+0.015%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.54	+0.033%	$15.2M	$16.0M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.48	+0.005%	$22K	$418K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.16	−0.135%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.57	+0.046%	$198K	$451K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.61	+0.064%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0014%	1h	226.27	−0.087%	$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
Variational Omni NVDA	+0.0016%	8h	226.48	+0.004%	$3.4M	$2.3M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.41	−0.025%	$399K	$731K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.62	+0.068%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.40	−0.029%	$147.1M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.46	−0.003%	$391K	$285K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.38	−0.038%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.22	−0.109%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.51	+0.019%	$1.3M	$9.1M	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0059%	1h	226.39	−0.033%	$52K	$1.8M	10x	as long as short
Lighter NVDAshort	+0.0080%	1h	226.50	+0.015%	$2.1M	$3.3M	20x
Binance NVDAUSDT	+0.0083%	8h	226.54	+0.033%	$154.5M	$218.1M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.37	−0.044%	$297K	$46K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.46	−0.003%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.33	−0.060%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.48	+0.006%	$36K	$21K	20x	as long as short
Hotstuff NVDA-PERP	+0.0104%	1h	226.38	−0.038%	$35K	—	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.52	+0.025%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.32	−0.064%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.078%	$1.3M	$732K	10x	as long as short
Nado NVDA-PERP	+0.0119%	1h	226.40	−0.031%	$481K	$224K	20x	as long as short
Lighter RH NVDA	+0.0120%	1h	226.62	+0.068%	$5.0M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0203%	8h	226.45	−0.007%	$711K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.67	+0.090%	$73K	$138	30x	as long as short
Extended NVDA_24_5-USD	+0.0384%	1h	226.36	−0.047%	$623K	$833K	10x	as long as short
edgeX NVDAUSDC	+0.0723%	4h	226.45	−0.007%	$170K	$1.9M	20x	as long as short