Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Phemex−0.018%7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$800.802% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)+0.040%+$4 · spread now −0.018%, 7d avg −0.062%

Together, before fees+0.149%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.044% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.57	0	get 0.0000% / 4h	35m 41s	$2.2M	$43K	10x
Short	Polymarket Perps NVDA-USD	227.53	0.0050	get 0.0006% / 1h	35m 41s	$401K	$276K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.018%Rate

Funding earned: $10.5
Price spread: −0.018% → −0.062%: $4.44
Slippage, 4 orders: −$60.16
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$65.21
Costs to cover: 0.802%
Break-even: 50.5 days

Slippage from Phemex: live order book, 3 min ago; Polymarket Perps: live order book, 22 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, 3 min ago	2.42 bp	40.1 bp −$40	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 22 min ago	2.20 bp	6.2 bp −$6	8.2 bp −$82	9.4 bp −$939	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	227.55	−0.009%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.53	−0.018%	$14.4M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.49	−0.035%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.60	+0.013%	$15.5M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.17	−0.176%	$2K	$3.7M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.47	−0.044%	$49K	$1.6M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.64	+0.031%	$198K	$471K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.57	long leg	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0017%	1h	227.42	−0.068%	$118K	$54K	10x	as long as short
Aster NVDAUSDT	+0.0036%	8h	227.57	−0.001%	$483K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NVDA-USD	+0.0040%	1h	227.45	−0.053%	$400K	$745K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.69	+0.053%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.41	−0.070%	$147.7M	$43.7M	20x	as long as short
Polymarket Perps NVDA-USDshort	+0.0050%	1h	227.53	−0.018%	$401K	$276K	10x
SoDEX NVDA-USD	+0.0050%	1h	227.41	−0.070%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.30	−0.119%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0057%	1h	227.51	−0.026%	$1.4M	$9.3M	10x	as long as short
Lighter NVDA	+0.0064%	1h	227.55	−0.009%	$2.2M	$3.3M	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0066%	8h	227.61	+0.017%	$20K	$390K	10x	as long as short
Variational Omni NVDA	+0.0068%	8h	227.54	−0.015%	$3.5M	$2.1M	—	as long as short
Nado NVDA-PERP	+0.0077%	1h	227.47	−0.045%	$484K	$228K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.45	−0.054%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.40	−0.075%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.50	−0.031%	$36K	$22K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0104%	1h	227.53	−0.018%	$1.3M	$775K	10x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	227.53	−0.019%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0120%	8h	227.58	+0.004%	$156.5M	$216.2M	50x	as long as short
Lighter RH NVDA	+0.0136%	1h	227.71	+0.062%	$5.1M	$7.1M	20x	as long as short
KuCoin NVDAUSDTM	+0.0140%	8h	227.56	−0.004%	$1.6M	$725K	20x	as long as short
Phoenix NVDA	+0.0141%	1h	227.45	−0.053%	$94K	$112K	20x	as long as short
Hotstuff NVDA-PERP	+0.0144%	1h	227.43	−0.062%	$35K	—	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.84	+0.119%	$73K	$137	30x	as long as short
BloFin NVDA-USDT	+0.0242%	8h	227.52	−0.022%	$721K	$201K	20x	as long as short
Extended NVDA_24_5-USD	+0.0408%	1h	227.41	−0.073%	$685K	$733K	10x	as long as short
edgeX NVDAUSDC	+0.0986%	4h	227.48	−0.041%	$170K	$1.9M	20x	as long as short