Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0002%/8h= −0.3% APRpaid last 24h 0.000%

Price spread now: Phoenix against KuCoin−0.066%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$101as in the Price arb table

costs, in and out, $10k−$970.972% of the position

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.075%−$8 on $10k

Price spread, last 3 days (all we have)+0.015%+$1 · spread now −0.066%, 7d avg −0.027%

Together, before fees−0.060%−$6 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: Phoenix is 0.039% cheaper against KuCoin than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin NVDAUSDTM	227.42	0.0108	pay 0.0108% / 8h	13m 14s	$1.6M	$743K	20x
Short	Phoenix NVDA	227.27	0.0106	get 0.0013% / 1h	13m 14s	$93K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$0.51
Price spread: −0.066% → −0.027%: −$3.94
Slippage, 4 orders: −$78.21
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$101.66
Costs to cover: 0.972%
Break-even: never at this rate

Slippage from KuCoin: live order book, 3 min ago; Phoenix: live order book, 56 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 KuCoin live order book, 3 min ago	5.71 bp	55.5 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix live order book, 56 min ago	2.64 bp	8.6 bp −$9	18.0 bp −$180	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	227.41	−0.005%	$482K	$587K	20x	as long as short
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	227.31	−0.048%	$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	226.85	−0.251%	$3K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.40	−0.009%	$197K	$525K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.44	+0.009%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0021%	1h	227.17	−0.110%	$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	+0.0030%	8h	227.37	−0.022%	$15.5M	$17.5M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.22	−0.086%	$535K	$447K	10x	as long as short
Binance NVDAUSDT	+0.0039%	8h	227.37	−0.021%	$156.2M	$219.4M	50x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.48	+0.026%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.23	−0.084%	$147.8M	$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	227.23	−0.084%	$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
Deribit NVDA_USDC-PERPETUAL	+0.0058%	1h	227.32	−0.044%	$49K	$1.4M	10x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.35	−0.031%	$1.6M	$11.5M	10x	as long as short
Nado NVDA-PERP	+0.0062%	1h	227.26	−0.069%	$483K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.35	−0.031%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.180%	$1.3M	$843K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.23	−0.084%	$298K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.28	−0.062%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.34	−0.035%	$36K	$22K	20x	as long as short
Phoenix NVDAshort	+0.0106%	1h	227.27	−0.066%	$93K	$112K	20x
KuCoin NVDAUSDTMlong	+0.0108%	8h	227.42	long leg	$1.6M	$743K	20x
Arcus NVDA-USD	+0.0127%	1h	227.20	−0.097%	$399K	$724K	20x	as long as short
edgeX NVDAUSDC	+0.0140%	4h	227.39	−0.015%	$170K	$1.9M	20x	as long as short
BloFin NVDA-USDT	+0.0156%	8h	227.41	−0.004%	$715K	$205K	20x	as long as short
Hotstuff NVDA-PERP	+0.0160%	1h	227.23	−0.084%	$35K	—	20x	as long as short
Lighter NVDA	+0.0192%	1h	227.39	−0.014%	$2.2M	$3.3M	20x	as long as short
Lighter RH NVDA	+0.0192%	1h	227.51	+0.040%	$5.1M	$7.2M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.65	+0.101%	$73K	$139	30x	as long as short