Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0288%/8h= +31.6% APRpaid last 24h +0.067%

Price spread now: BloFin against Phemex−0.026%59s7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$920.920% of the position

Long on Phemex Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.308%+$31 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.026%, 7d avg −0.019%

Together, before fees+0.271%+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.01	0	get 0.0000% / 4h	2h 56m	$2.2M	$41K	10x
Short	BloFin NVDA-USDT	226.95	0.0288	get 0.0288% / 8h	6h 56m	$717K	$202K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.026%Rate

Funding earned: $60.51
Price spread: −0.026% → −0.019%: −$0.72
Slippage, 4 orders: −$67.95
Fee Phemex: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$32.16
Costs to cover: 0.920%
Break-even: 10.7 days

Slippage from Phemex: live order book, 2 min ago; BloFin: live order book, 15 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, 2 min ago	1.98 bp	35.1 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 15 min ago	0.22 bp	6.2 bp −$6	7.5 bp −$75	16.0 bp −$1,600	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	226.98	−0.013%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.95	−0.026%	$14.2M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.91	−0.044%	$7.2M	$9.3M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.03	+0.009%	$15.7M	$16.0M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.56	−0.198%	$2K	$3.5M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.07	+0.026%	$198K	$436K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.01	long leg	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0013%	1h	226.87	−0.064%	$117K	$51K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	226.78	−0.103%	$641K	$885K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.11	+0.044%	—	$74K	25x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX NVDA-USD	+0.0047%	1h	227.00	−0.004%	$1.3M	$9.1M	10x	as long as short
Hotstuff NVDA-PERP	+0.0048%	1h	226.79	−0.097%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.83	−0.079%	$147.7M	$44.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.89	−0.053%	$392K	$240K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.83	−0.079%	$59K	$18K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.81	−0.088%	$1.6M	$1.9M	15x	as long as short
GRVT NVDA_USDT_Perp	+0.0053%	8h	226.94	−0.030%	$21K	$433K	10x	as long as short
Lighter NVDA	+0.0064%	1h	226.94	−0.032%	$2.1M	$3.1M	20x	as long as short
Aster NVDAUSDT	+0.0083%	8h	226.96	−0.022%	$485K	$543K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.83	−0.081%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.76	−0.110%	$16K	$45K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.93	−0.035%	$36K	$20K	20x	as long as short
Variational Omni NVDA	+0.0111%	8h	226.94	−0.030%	$3.3M	$2.5M	—	as long as short
Nado NVDA-PERP	+0.0111%	1h	226.87	−0.061%	$482K	$221K	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	227.00	−0.006%	—	—	10x	as long as short
KuCoin NVDAUSDTM	+0.0121%	8h	226.97	−0.018%	$1.6M	$1.1M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.02	+0.004%	$1.3M	$682K	10x	as long as short
Lighter RH NVDA	+0.0152%	1h	227.09	+0.035%	$5.1M	$6.9M	20x	as long as short
Binance NVDAUSDT	+0.0169%	8h	226.99	−0.009%	$155.6M	$223.4M	50x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0191%	1h	226.90	−0.048%	$53K	$1.9M	10x	as long as short
Phoenix NVDA	+0.0212%	1h	226.87	−0.062%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.48	+0.207%	$73K	$135	30x	as long as short
Arcus NVDA-USD	+0.0225%	1h	226.98	−0.013%	$393K	$740K	20x	as long as short
BloFin NVDA-USDTshort	+0.0288%	8h	226.95	−0.026%	$717K	$202K	20x
edgeX NVDAUSDC	+0.0289%	4h	226.94	−0.029%	$171K	$1.9M	20x	as long as short