Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.002%

Price spread now: Phemex against Bybit+0.066%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$101as in the Funding arb table

Net, price: spread back to 7d avg − costs−$93as in the Price arb table

costs, in and out, $10k−$960.964% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.066%, 7d avg +0.029%

Together, before fees−0.142%−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.037% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	226.43	0	get 0.0000% / 8h	1h 51m	$12.4M	$15.0M	100x
Short	Phemex NVDAUSDT	226.58	0	get 0.0000% / 4h	1h 51m	$2.2M	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → +0.029%: $3.72
Slippage, 4 orders: −$73.39
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$92.67
Costs to cover: 0.964%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Phemex: live order book, 2 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 Bybit live order book, 2 min ago	0.22 bp	6.4 bp −$6	9.1 bp −$91	53.5 bp −$5,346	doesn't fit
Sell Phemex live order book, 2 min ago	2.20 bp	45.3 bp −$45	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	226.45	+0.008%	$482K	$571K	20x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	226.43	long leg	$12.4M	$15.0M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.41	−0.009%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.37	−0.026%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.45	+0.009%	$15.2M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.49	+0.026%	$21K	$420K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.13	−0.132%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.72	+0.128%	$198K	$455K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.58	+0.066%	$2.2M	$42K	10x
Variational Omni NVDA	+0.0012%	8h	226.43	−0.002%	$3.6M	$2.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0013%	1h	226.33	−0.042%	$117K	$52K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.42	−0.004%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.49	+0.026%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.30	−0.057%	$147.0M	$43.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.36	−0.031%	$398K	$279K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.32	−0.049%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.30	−0.057%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.37	−0.026%	$1.3M	$9.1M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	226.33	−0.044%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0085%	8h	226.43	0.000%	$154.3M	$219.1M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.29	−0.062%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.46	+0.013%	$1.6M	$746K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.31	−0.053%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.42	−0.004%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.45	+0.007%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.38	−0.022%	$93K	$112K	20x	as long as short
Lighter NVDA	+0.0112%	1h	226.40	−0.013%	$2.1M	$3.3M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.062%	$1.3M	$789K	10x	as long as short
Nado NVDA-PERP	+0.0149%	1h	226.32	−0.050%	$481K	$226K	20x	as long as short
Lighter RH NVDA	+0.0168%	1h	226.54	+0.049%	$5.0M	$6.9M	20x	as long as short
BloFin NVDA-USDT	+0.0204%	8h	226.53	+0.044%	$716K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.74	+0.137%	$73K	$136	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0280%	1h	226.36	−0.031%	$52K	$1.8M	10x	as long as short
Extended NVDA_24_5-USD	+0.0408%	1h	226.20	−0.102%	$667K	$767K	10x	as long as short
edgeX NVDAUSDC	+0.0903%	4h	226.48	+0.020%	$170K	$1.9M	20x	as long as short