Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0017%/8hpaid last 24h −0.005%

Price spread now: BloFin against Lighter−0.065%90s7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$150.147% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now −0.065%, 7d avg +0.007%

Together, before fees+0.020%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.072% cheaper against Lighter than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of +0.007%). If the spread goes back, that is −$7 on $10k: about 14 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.010% in total) that is about 50 days. The two prices were read 90 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	227.74	0.0184	pay 0.0023% / 1h	21m 33s	$2.1M	$3.2M	20x
Short	BloFin NVDA-USDT	227.59	0.0201	get 0.0201% / 8h	4h 21m	$728K	$198K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now −0.065%Rate

Funding earned: $3.53
Price spread: −0.065% → +0.007%: −$7.16
Slippage, 4 orders: −$2.69
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$18.32
Costs to cover: 0.147%
Break-even: 43.4 days

Slippage from Lighter: live order book, 10 min ago; BloFin: live order book, 9 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 Lighter live order book, 10 min ago	0.28 bp	0.4 bp $0	1.2 bp −$12	23.1 bp −$2,307	doesn't fit
Sell BloFin live order book, 9 min ago	0.88 bp	6.9 bp −$7	7.4 bp −$74	12.0 bp −$1,202	25.3 bp −$12.7K

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	227.64	−0.043%	$12.8M	$14.6M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.64	−0.043%	$14.4M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.58	−0.069%	$7.2M	$8.9M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.61	−0.056%	$20K	$484K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.22	−0.227%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.63	−0.047%	$197K	$437K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.62	−0.052%	$2.2M	$41K	10x	as long as short
Variational Omni NVDA	+0.0011%	8h	227.59	−0.063%	$3.3M	$2.2M	—	as long as short
Aster NVDAUSDT	+0.0028%	8h	227.62	−0.052%	$511K	$393K	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.54	−0.087%	$530K	$341K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NVDA-USD	+0.0040%	1h	227.68	−0.025%	$413K	$634K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.75	+0.005%	—	$73K	25x	as long as short
QFEX NVDA-USD	+0.0050%	1h	227.66	−0.034%	$1.5M	$10.8M	10x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.56	−0.078%	$147.6M	$47.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.50	−0.105%	$396K	$220K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.54	−0.087%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.33	−0.179%	$1.6M	$2.0M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.58	−0.069%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0080%	8h	227.67	−0.032%	$156.7M	$208.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.51	−0.099%	$299K	$52K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.68	−0.025%	$1.6M	$706K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.58	−0.069%	$16K	$43K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.58	−0.069%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0102%	1h	227.61	−0.056%	$49K	$1.4M	10x	as long as short
Lighter RH NVDA	+0.0104%	1h	227.81	+0.032%	$4.8M	$6.8M	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.61	−0.054%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0109%	1h	227.50	−0.106%	$478K	$216K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	227.55	−0.083%	$1.3M	$818K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0159%	1h	227.49	−0.111%	$118K	$53K	10x	as long as short
Lighter NVDAlong	+0.0184%	1h	227.74	long leg	$2.1M	$3.2M	20x
Bitget NVDAUSDT	+0.0185%	8h	227.68	−0.025%	$15.8M	$17.6M	100x	as long as short
BloFin NVDA-USDTshort	+0.0201%	8h	227.59	−0.065%	$728K	$198K	20x
Phoenix NVDA	+0.0211%	1h	227.65	−0.039%	$94K	$112K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.91	+0.076%	$73K	$127	30x	as long as short
edgeX NVDAUSDC	+0.0804%	4h	227.60	−0.060%	$166K	$1.8M	20x	as long as short