Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.017%

Price spread now: Lighter RH against Aster+0.044%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$120.123% of the position

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.044%, 7d avg +0.048%

Together, before fees+0.020%+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.048%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.058% in total (about 3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NVDAUSDT	227.42	0	get 0.0000% / 8h	14m 28s	$482K	$587K	20x
Short	Lighter RH NVDA	227.52	0.0200	get 0.0025% / 1h	14m 28s	$5.1M	$7.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.044%Rate

Funding earned: $42
Price spread: +0.044% → +0.048%: −$0.44
Slippage, 4 orders: −$4.26
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $29.29
Costs to cover: 0.123%
Break-even: 2.1 days

Slippage from Aster: live order book, 63 min ago; Lighter RH: 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, 63 min ago	0.22 bp	5.5 bp −$5	7.7 bp −$77	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.88 bp	0.9 bp −$1	2.7 bp −$27	28.1 bp −$2,808	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	227.42	long leg	$482K	$587K	20x
Bybit NVDAUSDT	0.0000%	8h	227.36	−0.026%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.35	−0.031%	$14.4M	$20.9M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.33	−0.040%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.42	+0.001%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.43	+0.003%	$21K	$410K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.90	−0.229%	$3K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.40	−0.009%	$198K	$525K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.48	+0.026%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0023%	1h	227.16	−0.113%	$118K	$56K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NVDAUSDT	+0.0031%	8h	227.36	−0.026%	$15.5M	$17.5M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.25	−0.077%	$535K	$447K	10x	as long as short
Binance NVDAUSDT	+0.0039%	8h	227.37	−0.022%	$156.2M	$219.4M	50x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.50	+0.035%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.25	−0.075%	$147.9M	$48.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.33	−0.040%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.24	−0.079%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.26	−0.070%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.40	−0.009%	$1.6M	$11.5M	10x	as long as short
Nado NVDA-PERP	+0.0062%	1h	227.28	−0.062%	$483K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.39	−0.012%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.180%	$1.3M	$844K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.26	−0.072%	$298K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.29	−0.057%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.37	−0.022%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.31	−0.048%	$93K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0107%	8h	227.42	0.000%	$1.6M	$743K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.21	−0.092%	$399K	$724K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0146%	1h	227.35	−0.031%	$49K	$1.4M	10x	as long as short
BloFin NVDA-USDT	+0.0156%	8h	227.41	−0.004%	$716K	$205K	20x	as long as short
Hotstuff NVDA-PERP	+0.0160%	1h	227.24	−0.079%	$35K	—	20x	as long as short
Lighter NVDA	+0.0200%	1h	227.41	−0.004%	$2.2M	$3.3M	20x	as long as short
Lighter RH NVDAshort	+0.0200%	1h	227.52	+0.044%	$5.1M	$7.2M	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.65	+0.101%	$73K	$139	30x	as long as short
edgeX NVDAUSDC	+0.0616%	4h	227.43	+0.005%	$171K	$1.9M	20x	as long as short