Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Bybit against Phemex−0.062%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$81as in the Price arb table

costs, in and out, $10k−$780.782% of the position

Long on Phemex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.062%, 7d avg −0.029%

Together, before fees+0.138%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.033% cheaper against Phemex than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.029%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.77	0	get 0.0000% / 4h	2h 03m	$2.2M	$42K	10x
Short	Bybit NVDAUSDT	226.63	0	get 0.0000% / 8h	2h 03m	$12.5M	$15.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.062%Rate

Funding earned: $0
Price spread: −0.062% → −0.029%: −$3.26
Slippage, 4 orders: −$55.22
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$81.48
Costs to cover: 0.782%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bybit: live order book, 4 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, 5 min ago	1.32 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.22 bp	6.2 bp −$6	9.3 bp −$93	63.7 bp −$6,369	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	226.59	−0.077%	$482K	$571K	20x	as long as short
Bybit NVDAUSDTshort	0.0000%	8h	226.63	−0.062%	$12.5M	$15.0M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.66	−0.049%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.63	−0.062%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.67	−0.044%	$15.3M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.82	+0.022%	$21K	$417K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.48	−0.128%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.71	−0.026%	$198K	$456K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.77	long leg	$2.2M	$42K	10x
Variational Omni NVDA	+0.0009%	8h	226.76	−0.006%	$3.6M	$2.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0010%	1h	226.56	−0.093%	$117K	$52K	10x	as long as short
Hotstuff NVDA-PERP	+0.0032%	1h	226.58	−0.084%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.66	−0.049%	$398K	$734K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.62	−0.066%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.81	+0.018%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.51	−0.115%	$147.2M	$43.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.61	−0.071%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.52	−0.110%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.56	−0.093%	$1.6M	$2.0M	15x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0059%	1h	226.59	−0.079%	$53K	$1.8M	10x	as long as short
Lighter NVDA	+0.0072%	1h	226.60	−0.075%	$2.1M	$3.4M	20x	as long as short
Binance NVDAUSDT	+0.0081%	8h	226.65	−0.051%	$154.5M	$219.1M	50x	as long as short
Nado NVDA-PERP	+0.0085%	1h	226.56	−0.091%	$482K	$226K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.53	−0.104%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.70	−0.031%	$1.6M	$744K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.63	−0.062%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.61	−0.071%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.65	−0.055%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.65	−0.053%	$93K	$112K	20x	as long as short
Lighter RH NVDA	+0.0112%	1h	226.75	−0.009%	$5.1M	$7.1M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.29	−0.212%	$1.3M	$789K	10x	as long as short
BloFin NVDA-USDT	+0.0202%	8h	226.73	−0.018%	$710K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.95	+0.079%	$73K	$140	30x	as long as short
Extended NVDA_24_5-USD	+0.0376%	1h	226.50	−0.121%	$668K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0738%	4h	226.73	−0.020%	$170K	$1.9M	20x	as long as short