Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: SoDEX against Phemex−0.146%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. SoDEX is 0.146% cheaper against Phemex than usual: you would sell low and buy high (spread −0.146% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 9.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.55	0	get 0.0000% / 4h	32m 08s	$2.2M	$42K	10x
Short	SoDEX NVDA-USD	226.22	0.0050	get 0.0006% / 1h	32m 08s	$59K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.146%Rate

Funding earned: $10.5
Price spread: −0.146% → 0.000%: −$14.57
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$24.07
Costs to cover: 0.200%
Break-even: 23.0 days

Slippage unknown: Phemex: live order book, 1 min ago; SoDEX: no order-book sample. 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 Phemex live order book, 1 min ago	1.76 bp	38.4 bp −$38	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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
Bybit NVDAUSDT	0.0000%	8h	226.33	−0.097%	$12.4M	$14.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.36	−0.084%	$14.1M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.29	−0.115%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.44	−0.049%	$15.8M	$16.6M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.91	−0.282%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.40	−0.066%	$198K	$445K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.55	long leg	$2.2M	$42K	10x
Aftermath Perps NVDAUSD	+0.0017%	1h	226.15	−0.174%	$117K	$51K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0023%	8h	226.38	−0.077%	$21K	$424K	10x	as long as short
Aster NVDAUSDT	+0.0038%	8h	226.37	−0.079%	$482K	$530K	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	226.29	−0.115%	$392K	$740K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.42	−0.057%	—	$74K	25x	as long as short
SoDEX NVDA-USDshort	+0.0050%	1h	226.22	−0.146%	$59K	$19K	10x
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.13	−0.185%	$1.6M	$1.9M	15x	as long as short
Variational Omni NVDA	+0.0061%	8h	226.29	−0.114%	$3.5M	$2.3M	—	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.34	−0.093%	$1.3M	$9.1M	10x	as long as short
tradeXYZ xyz:NVDA	+0.0083%	1h	226.24	−0.137%	$146.9M	$43.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0085%	1h	226.31	−0.106%	$391K	$247K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	226.18	−0.163%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.35	−0.088%	$1.6M	$750K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.21	−0.150%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.28	−0.119%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	226.32	−0.102%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.203%	$1.3M	$698K	10x	as long as short
Binance NVDAUSDT	+0.0123%	8h	226.38	−0.073%	$154.4M	$218.6M	50x	as long as short
Hotstuff NVDA-PERP	+0.0128%	1h	226.22	−0.146%	$35K	—	20x	as long as short
edgeX NVDAUSDC	+0.0153%	4h	226.33	−0.097%	$170K	$1.9M	20x	as long as short
Lighter NVDA	+0.0160%	1h	226.29	−0.116%	$2.1M	$3.2M	20x	as long as short
Nado NVDA-PERP	+0.0166%	1h	226.18	−0.161%	$480K	$223K	20x	as long as short
Phoenix NVDA	+0.0177%	1h	226.23	−0.141%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.65	+0.044%	$73K	$138	30x	as long as short
Lighter RH NVDA	+0.0224%	1h	226.46	−0.040%	$5.1M	$6.9M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0236%	1h	226.24	−0.137%	$53K	$1.9M	10x	as long as short
BloFin NVDA-USDT	+0.0244%	8h	226.37	−0.079%	$711K	$195K	20x	as long as short
Extended NVDA_24_5-USD	+0.0312%	1h	226.14	−0.181%	$644K	$875K	10x	as long as short