Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0144%/8h= −15.8% APRpaid last 24h −0.026%

Price spread now: OKX against Lighter−0.021%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$120.123% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 7 days+0.019%+$2 · spread now −0.021%, 7d avg +0.029%

Together, before fees−0.129%+ Points / potential airdropLighter: Season 3 · farm board−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and OKX is 0.050% cheaper against Lighter than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	227.81	0.0144	pay 0.0018% / 1h	23m 15s	$2.2M	$3.2M	20x
Short	OKX NVDA-USDT-SWAP	227.76	0	get 0.0000% / 8h	7h 23m	$14.4M	$20.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$30.24
Price spread: −0.021% → +0.029%: −$4.97
Slippage, 4 orders: −$2.34
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$47.54
Costs to cover: 0.123%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; OKX: live order book, 5 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, 4 min ago	0.42 bp	0.8 bp −$1	2.0 bp −$20	7.8 bp −$779	doesn't fit
Sell OKX live order book, 5 min ago	0.22 bp	5.8 bp −$6	8.1 bp −$81	25.1 bp −$2,510	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	227.63	−0.079%	$483K	$586K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.73	−0.034%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	227.76	−0.021%	$14.4M	$20.7M	50x
Gate NVDA_USDT	0.0000%	8h	227.72	−0.039%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.86	+0.022%	$3.5M	$1.9M	—	as long as short
SunX NVDA-USDT	0.0000%	8h	227.37	−0.192%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.87	+0.027%	$198K	$510K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.86	+0.023%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0015%	1h	227.78	−0.013%	$118K	$55K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.68	−0.056%	$524K	$474K	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	227.65	−0.069%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.73	−0.034%	$1.6M	$11.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.86	+0.023%	—	$74K	25x	as long as short
Bitget NVDAUSDT	+0.0046%	8h	227.79	−0.008%	$15.5M	$16.9M	100x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.65	−0.069%	$147.8M	$46.0M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.73	−0.034%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.63	−0.078%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.63	−0.078%	$1.6M	$2.1M	15x	as long as short
Binance NVDAUSDT	+0.0056%	8h	227.80	−0.005%	$156.4M	$217.6M	50x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.153%	$1.3M	$800K	10x	as long as short
Nado NVDA-PERP	+0.0081%	1h	227.65	−0.070%	$484K	$229K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0092%	8h	227.86	+0.023%	$20K	$387K	10x	as long as short
Aevo NVDA-PERP	+0.0096%	1h	227.76	−0.021%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.61	−0.085%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.73	−0.034%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.78	−0.012%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0101%	1h	227.73	−0.034%	$49K	$1.4M	10x	as long as short
Phoenix NVDA	+0.0106%	1h	227.81	+0.001%	$94K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0130%	8h	227.83	+0.010%	$1.6M	$740K	20x	as long as short
Lighter NVDAlong	+0.0144%	1h	227.81	long leg	$2.2M	$3.2M	20x
Lighter RH NVDA	+0.0144%	1h	227.94	+0.058%	$5.1M	$7.1M	20x	as long as short
BloFin NVDA-USDT	+0.0176%	8h	227.82	+0.005%	$718K	$205K	20x	as long as short
edgeX NVDAUSDC	+0.0181%	4h	227.87	+0.026%	$170K	$1.9M	20x	as long as short
Hotstuff NVDA-PERP	+0.0192%	1h	227.53	−0.122%	$35K	—	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.22	+0.181%	$73K	$138	30x	as long as short