Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.040%

Price spread now: Phemex against Lighter RH−0.009%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$840.845% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 3 days (all we have)−0.083%−$8 · spread now −0.009%, 7d avg −0.030%

Together, before fees−0.309%+ Points / potential airdropLighter RH: Points live · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.021% dearer against Lighter RH than usual: you sell high and buy low (spread −0.009% now, against its 7-day average of −0.030%): +$2 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH NVDA	227.90	0.0088	pay 0.0011% / 1h	56m 19s	$5.1M	$7.0M	20x
Short	Phemex NVDAUSDT	227.88	0	get 0.0000% / 4h	2h 56m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Lighter RH. 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 Lighter RHbpFee PhemexbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$18.48
Price spread: −0.009% → −0.030%: $2.1
Slippage, 4 orders: −$72.47
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$100.86
Costs to cover: 0.845%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 2 min ago; Phemex: live order book, 2 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 RH live order book, 2 min ago	0.88 bp	1.2 bp −$1	3.3 bp −$33	34.8 bp −$3,483	doesn't fit
Sell Phemex live order book, 2 min ago	1.76 bp	42.3 bp −$42	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
Bybit NVDAUSDT	0.0000%	8h	227.75	−0.066%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.74	−0.070%	$14.4M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.71	−0.083%	$7.2M	$9.5M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.26	−0.281%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.78	−0.053%	$198K	$505K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.88	−0.009%	$2.2M	$43K	10x
Aster NVDAUSDT	+0.0001%	8h	227.82	−0.037%	$484K	$582K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0014%	1h	227.69	−0.092%	$49K	$1.5M	10x	as long as short
Aftermath Perps NVDAUSD	+0.0014%	1h	227.78	−0.053%	$118K	$55K	10x	as long as short
Variational Omni NVDA	+0.0018%	8h	227.76	−0.062%	$3.5M	$1.9M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget NVDAUSDT	+0.0029%	8h	227.80	−0.044%	$15.4M	$16.8M	100x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.59	−0.134%	$696K	$704K	10x	as long as short
Hotstuff NVDA-PERP	+0.0040%	1h	227.64	−0.114%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.66	−0.105%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.80	−0.044%	$1.5M	$10.7M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.89	−0.004%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.64	−0.114%	$148.0M	$46.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.76	−0.061%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.63	−0.118%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.59	−0.136%	$1.5M	$2.1M	15x	as long as short
Nado NVDA-PERP	+0.0057%	1h	227.69	−0.094%	$484K	$229K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.193%	$1.3M	$798K	10x	as long as short
Binance NVDAUSDT	+0.0086%	8h	227.79	−0.048%	$156.4M	$216.9M	50x	as long as short
Lighter NVDA	+0.0088%	1h	227.77	−0.056%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDAlong	+0.0088%	1h	227.90	long leg	$5.1M	$7.0M	20x
Pacifica NVDA	+0.0100%	1h	227.67	−0.101%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.72	−0.079%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.72	−0.079%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.74	−0.071%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	227.74	−0.070%	$94K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0142%	8h	227.84	−0.026%	$1.6M	$735K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0169%	8h	227.88	−0.009%	$20K	$392K	10x	as long as short
BloFin NVDA-USDT	+0.0207%	8h	227.81	−0.039%	$718K	$205K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.15	+0.110%	$73K	$134	30x	as long as short
edgeX NVDAUSDC	+0.0417%	4h	227.87	−0.012%	$170K	$1.9M	20x	as long as short