Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h +0.025%

Price spread now: Phemex against Hotstuff+0.111%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hotstuff Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Phemex is 0.111% dearer against Hotstuff than usual: you sell high and buy low (spread +0.111% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff NVDA-PERP	226.24	0.0048	pay 0.0006% / 1h	57m 52s	$35K	—	20x
Short	Phemex NVDAUSDT	226.49	0	get 0.0000% / 4h	57m 52s	$2.2M	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Hotstuff. 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 HotstuffbpFee PhemexbpOrdersPrice spread, now +0.111%Rate

Funding earned: −$10.08
Price spread: +0.111% → 0.000%: $11.05
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$16.03
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Phemex: live order book, 6 min ago. Net counts fees only.

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 Hotstuff no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	1.76 bp	32.0 bp −$32	doesn't fit	doesn't fit	doesn't fit

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Bybit NVDAUSDT	0.0000%	8h	226.28	+0.018%	$12.4M	$14.6M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.28	+0.018%	$14.1M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.26	+0.009%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.36	+0.053%	$15.8M	$16.6M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.46	+0.098%	$21K	$421K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.82	−0.186%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.42	+0.080%	$198K	$448K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.49	+0.111%	$2.2M	$42K	10x
Aftermath Perps NVDAUSD	+0.0018%	1h	226.22	−0.009%	$117K	$51K	10x	as long as short
Aster NVDAUSDT	+0.0018%	8h	226.30	+0.025%	$482K	$530K	20x	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	+0.0036%	8h	226.42	+0.078%	$3.5M	$2.3M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.35	+0.049%	$399K	$732K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.38	+0.062%	—	$74K	25x	as long as short
Hotstuff NVDA-PERPlong	+0.0048%	1h	226.24	long leg	$35K	—	20x
tradeXYZ xyz:NVDA	+0.0050%	1h	226.13	−0.049%	$146.9M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.24	0.000%	$391K	$247K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.15	−0.040%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.13	−0.049%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.30	+0.027%	$1.3M	$9.1M	10x	as long as short
Lighter NVDA	+0.0080%	1h	226.23	−0.005%	$2.1M	$3.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.19	−0.021%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.32	+0.035%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.21	−0.013%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.23	−0.004%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.29	+0.022%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0104%	8h	226.29	+0.020%	$154.3M	$218.4M	50x	as long as short
Phoenix NVDA	+0.0106%	1h	226.30	+0.027%	$93K	$83K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.29	+0.022%	$1.3M	$697K	10x	as long as short
Nado NVDA-PERP	+0.0124%	1h	226.19	−0.021%	$480K	$223K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0148%	1h	226.19	−0.022%	$53K	$1.8M	10x	as long as short
Lighter RH NVDA	+0.0152%	1h	226.33	+0.040%	$5.1M	$6.9M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.94	+0.309%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0224%	8h	226.43	+0.084%	$712K	$195K	20x	as long as short
Extended NVDA_24_5-USD	+0.0360%	1h	226.07	−0.075%	$644K	$875K	10x	as long as short
edgeX NVDAUSDC	+0.0455%	4h	226.45	+0.093%	$170K	$1.9M	20x	as long as short