Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h +0.011%

Price spread now: Phoenix against Binance−0.053%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$290.295% of the position

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 2 days (all we have)−0.051%−$5 · spread now −0.053%, 7d avg −0.040%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance NVDAUSDT	227.77	0.0037	pay 0.0037% / 8h	7h 49m	$156.5M	$218.6M	50x
Short	Phoenix NVDA	227.65	0.0106	get 0.0013% / 1h	49m 07s	$94K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now −0.053%Rate

Funding earned: $14.42
Price spread: −0.053% → −0.040%: −$1.27
Slippage, 4 orders: −$12.48
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$16.33
Costs to cover: 0.295%
Break-even: 14.9 days

Slippage from Binance: live order book, 9 min ago; Phoenix: live order book, 16 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 Binance live order book, 9 min ago	0.22 bp	5.4 bp −$5	6.5 bp −$65	21.8 bp −$2,185	doesn't fit
Sell Phoenix live order book, 16 min ago	3.08 bp	9.4 bp −$9	20.8 bp −$208	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	227.60	−0.076%	$483K	$586K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.75	−0.009%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.71	−0.026%	$14.4M	$20.7M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.67	−0.044%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.71	−0.026%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.66	−0.048%	$20K	$406K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.39	−0.167%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	−0.127%	$197K	$515K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.84	+0.031%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0015%	1h	227.61	−0.072%	$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
Extended NVDA_24_5-USD	+0.0032%	1h	227.55	−0.097%	$535K	$447K	10x	as long as short
Binance NVDAUSDTlong	+0.0037%	8h	227.77	long leg	$156.5M	$218.6M	50x
Bitget NVDAUSDT	+0.0038%	8h	227.81	+0.018%	$15.5M	$17.1M	100x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.57	−0.088%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.74	−0.013%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.84	+0.031%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.60	−0.075%	$148.0M	$46.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.71	−0.026%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.62	−0.066%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.46	−0.136%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0057%	1h	227.66	−0.050%	$484K	$229K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.136%	$1.3M	$823K	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.70	−0.031%	—	—	10x	as long as short
Hotstuff NVDA-PERP	+0.0096%	1h	227.64	−0.057%	$35K	—	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.64	−0.057%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.59	−0.079%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.72	−0.022%	$36K	$22K	20x	as long as short
Phoenix NVDAshort	+0.0106%	1h	227.65	−0.053%	$94K	$112K	20x
Lighter RH NVDA	+0.0112%	1h	227.88	+0.048%	$5.1M	$7.1M	20x	as long as short
KuCoin NVDAUSDTM	+0.0119%	8h	227.73	−0.018%	$1.6M	$743K	20x	as long as short
Lighter NVDA	+0.0128%	1h	227.76	−0.004%	$2.2M	$3.2M	20x	as long as short
BloFin NVDA-USDT	+0.0148%	8h	227.84	+0.031%	$715K	$207K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.89	+0.053%	$73K	$135	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0321%	1h	227.72	−0.022%	$49K	$1.4M	10x	as long as short
edgeX NVDAUSDC	+0.0364%	4h	227.63	−0.061%	$170K	$1.9M	20x	as long as short