Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.016%

Price spread now: Aftermath Perps against Phemex−0.121%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1131.134% of the position

Long on Phemex Short on Aftermath Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.096%−$10 on $10k

Price spread, last 3 days (all we have)+0.071%+$7 · spread now −0.121%, 7d avg −0.076%

Together, before fees−0.026%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aftermath Perps is 0.045% cheaper against Phemex than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of −0.076%). If the spread goes back, that is −$5 on $10k: about 13 days of funding at the current rate ($0 a day). Mind the row above: over the last 3 days funding on this pair cost −0.096%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.95	0	get 0.0000% / 4h	2h 17m	$2.2M	$43K	10x
Short	Aftermath Perps NVDAUSD	227.67	0.0012	get 0.0001% / 1h	17m 17s	$118K	$54K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Phemex. 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 PhemexbpFee Aftermath PerpsbpOrdersPrice spread, now −0.121%Rate

Funding earned: $2.5
Price spread: −0.121% → −0.076%: −$4.53
Slippage, 4 orders: −$92.44
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: −$115.46
Costs to cover: 1.134%
Break-even: 329.8 days

Slippage from Phemex: live order book, 1 min ago; Aftermath Perps: live order book, 52 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 Phemex live order book, 1 min ago	3.29 bp	37.5 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell Aftermath Perps live order book, 52 min ago	4.00 bp	11.0 bp −$11	21.6 bp −$216	doesn't fit	doesn't fit

NVDA on 34 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	227.78	−0.072%	$484K	$590K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.87	−0.035%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.88	−0.031%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.80	−0.066%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.90	−0.022%	$15.4M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.35	−0.263%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.96	+0.004%	$198K	$494K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.95	long leg	$2.2M	$43K	10x
Aftermath Perps NVDAUSDshort	+0.0012%	1h	227.67	−0.121%	$118K	$54K	10x
GRVT NVDA_USDT_Perp	+0.0020%	8h	227.82	−0.057%	$20K	$388K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0022%	8h	227.79	−0.069%	$3.5M	$2.0M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.68	−0.118%	$400K	$723K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.85	−0.044%	$1.4M	$10.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.98	+0.013%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.72	−0.101%	$148.1M	$44.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.82	−0.057%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.72	−0.101%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.67	−0.123%	$1.6M	$2.0M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.74	−0.092%	$35K	—	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.215%	$1.3M	$786K	10x	as long as short
Nado NVDA-PERP	+0.0081%	1h	227.77	−0.079%	$484K	$229K	20x	as long as short
Binance NVDAUSDT	+0.0084%	8h	227.90	−0.021%	$156.4M	$215.8M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.73	−0.096%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.69	−0.114%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.83	−0.053%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0101%	1h	227.78	−0.075%	$49K	$1.5M	10x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.86	−0.039%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.66	−0.127%	$94K	$112K	20x	as long as short
Lighter NVDA	+0.0120%	1h	227.87	−0.036%	$2.2M	$3.2M	20x	as long as short
KuCoin NVDAUSDTM	+0.0131%	8h	227.91	−0.018%	$1.6M	$736K	20x	as long as short
Lighter RH NVDA	+0.0144%	1h	228.00	+0.022%	$5.1M	$7.0M	20x	as long as short
Extended NVDA_24_5-USD	+0.0168%	1h	227.69	−0.116%	$689K	$714K	10x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.09	+0.061%	$73K	$138	30x	as long as short
edgeX NVDAUSDC	+0.0460%	4h	227.77	−0.080%	$170K	$1.9M	20x	as long as short