Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against Orderly+0.062%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.062% dearer against Orderly than usual: you sell high and buy low (spread +0.062% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_NVDA_USDC	226.85	0.0100	pay 0.0100% / 8h	2h 45m	$36K	$21K	20x
Short	Phemex NVDAUSDT	226.99	0	get 0.0000% / 4h	2h 45m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Orderly. 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 OrderlybpFee PhemexbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$21
Price spread: +0.062% → 0.000%: $6.17
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$32.83
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Phemex: live order book, 3 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 Orderly no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	0.66 bp	33.6 bp −$34	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	226.86	+0.003%	$483K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.86	+0.004%	$12.5M	$14.9M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.86	+0.004%	$14.3M	$20.3M	50x	as long as short
Hotstuff NVDA-PERP	0.0000%	1h	226.74	−0.048%	$35K	—	20x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.85	0.000%	$7.3M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.91	+0.026%	$15.3M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.91	+0.025%	$21K	$410K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.60	−0.110%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.01	+0.071%	$198K	$462K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.99	+0.062%	$2.2M	$43K	10x

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0006%	8h	226.86	+0.002%	$3.6M	$2.1M	—	as long as short
Aftermath Perps NVDAUSD	+0.0006%	1h	226.73	−0.052%	$118K	$52K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0015%	1h	226.82	−0.013%	$52K	$1.7M	10x	as long as short
Lighter NVDA	+0.0032%	1h	226.85	−0.001%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.84	−0.004%	$398K	$728K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.88	+0.013%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.98	+0.057%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.75	−0.044%	$147.3M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.84	−0.004%	$399K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.75	−0.044%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.73	−0.053%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0054%	1h	226.77	−0.036%	$482K	$226K	20x	as long as short
Binance NVDAUSDT	+0.0079%	8h	226.90	+0.022%	$155.3M	$217.2M	50x	as long as short
Lighter RH NVDA	+0.0088%	1h	226.99	+0.062%	$5.1M	$7.1M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.75	−0.045%	$298K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.92	+0.031%	$1.6M	$734K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.77	−0.035%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDClong	+0.0100%	8h	226.85	long leg	$36K	$21K	20x
Aevo NVDA-PERP	+0.0104%	1h	226.87	+0.011%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.79	−0.026%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.63	−0.097%	$1.3M	$781K	10x	as long as short
BloFin NVDA-USDT	+0.0199%	8h	226.91	+0.026%	$716K	$191K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.12	+0.119%	$73K	$136	30x	as long as short
Extended NVDA_24_5-USD	+0.0264%	1h	226.74	−0.048%	$668K	$767K	10x	as long as short
edgeX NVDAUSDC	+0.0508%	4h	226.91	+0.025%	$170K	$1.9M	20x	as long as short