Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.044%

Price spread now: SunX against Lighter−0.211%7-day average −0.119% · you buy dearer than you sell

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

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 3 days (all we have)+0.065%+$6 · spread now −0.211%, 7d avg −0.119%

Together, before fees−0.235%+ Points / potential airdropLighter: Season 3 · farm board−$24 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 SunX is 0.092% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.119%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	227.76	0.0120	pay 0.0015% / 1h	36m 18s	$2.2M	$3.2M	20x
Short	SunX NVDA-USDT	227.28	0	get 0.0000% / 8h	6h 36m	$3K	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.211%Rate

Funding earned: −$25.2
Price spread: −0.211% → −0.119%: −$9.18
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$42.38
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 6 min ago; SunX: live order book, 12 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 Lighter live order book, 6 min ago	0.35 bp	0.8 bp −$1	2.1 bp −$21	7.2 bp −$721	doesn't fit
Sell SunX live order book, 12 min ago	395.61 bp	doesn't fit	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	227.77	+0.002%	$484K	$581K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.74	−0.009%	$12.7M	$15.2M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.71	−0.022%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.68	−0.036%	$7.2M	$9.5M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.79	+0.013%	$15.4M	$16.4M	100x	as long as short
SunX NVDA-USDTshort	0.0000%	8h	227.28	−0.211%	$3K	$3.8M	20x
HTX NVDA-USDT	0.0000%	8h	227.75	−0.005%	$198K	$498K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.80	+0.017%	$2.2M	$43K	10x	as long as short
Hotstuff NVDA-PERP	+0.0008%	1h	227.57	−0.084%	$35K	—	20x	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.58	−0.078%	$118K	$54K	10x	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	+0.0015%	8h	227.74	−0.009%	$3.5M	$1.9M	—	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.56	−0.088%	$693K	$709K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0037%	8h	227.71	−0.022%	$20K	$386K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.59	−0.075%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.72	−0.018%	$1.5M	$10.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.84	+0.035%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.59	−0.075%	$148.0M	$44.7M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.70	−0.027%	$402K	$280K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.59	−0.075%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.56	−0.088%	$1.5M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.132%	$1.3M	$788K	10x	as long as short
Nado NVDA-PERP	+0.0072%	1h	227.63	−0.060%	$484K	$230K	20x	as long as short
Binance NVDAUSDT	+0.0081%	8h	227.77	+0.006%	$156.3M	$216.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.60	−0.070%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.62	−0.062%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.72	−0.018%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0102%	1h	227.67	−0.040%	$49K	$1.5M	10x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.72	−0.018%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.62	−0.062%	$94K	$112K	20x	as long as short
Lighter NVDAlong	+0.0120%	1h	227.76	long leg	$2.2M	$3.2M	20x
Lighter RH NVDA	+0.0120%	1h	227.87	+0.048%	$5.1M	$7.0M	20x	as long as short
KuCoin NVDAUSDTM	+0.0131%	8h	227.75	−0.005%	$1.6M	$737K	20x	as long as short
BloFin NVDA-USDT	+0.0203%	8h	227.78	+0.008%	$723K	$204K	20x	as long as short
edgeX NVDAUSDC	+0.0212%	4h	227.66	−0.043%	$170K	$1.9M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.96	+0.087%	$73K	$135	30x	as long as short