Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SunX against Phemex−0.215%7-day average −0.142% · you buy dearer than you sell

Net, funding: paid 7d − costs−$139as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1391.394% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.109%+$11 · spread now −0.215%, 7d avg −0.142%

Together, before fees+0.109%+$11 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: SunX is 0.073% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.142%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.86	0	get 0.0000% / 4h	3h 23m	$2.2M	$42K	10x
Short	SunX NVDA-USDT	227.37	0	get 0.0000% / 8h	7h 23m	$2K	$3.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.215%Rate

Funding earned: $0
Price spread: −0.215% → −0.142%: −$7.29
Slippage, 4 orders: −$119.38
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$146.66
Costs to cover: 1.394%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; SunX: live order book, 5 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	1.75 bp	35.4 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	21.95 bp	26.0 bp −$26	55.7 bp −$557	doesn't fit	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	227.63	−0.102%	$483K	$586K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.73	−0.057%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.76	−0.044%	$14.4M	$20.7M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.72	−0.061%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.86	−0.001%	$3.5M	$1.9M	—	as long as short
SunX NVDA-USDTshort	0.0000%	8h	227.37	−0.215%	$2K	$3.8M	20x
HTX NVDA-USDT	0.0000%	8h	227.87	+0.004%	$198K	$510K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.86	long leg	$2.2M	$42K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	227.78	−0.036%	$118K	$55K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.68	−0.079%	$524K	$474K	10x	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	227.65	−0.092%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.73	−0.057%	$1.6M	$11.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.86	0.000%	—	$74K	25x	as long as short
Bitget NVDAUSDT	+0.0046%	8h	227.79	−0.031%	$15.5M	$16.9M	100x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.65	−0.092%	$147.8M	$46.0M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.73	−0.057%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.63	−0.101%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.63	−0.101%	$1.6M	$2.1M	15x	as long as short
Binance NVDAUSDT	+0.0056%	8h	227.80	−0.028%	$156.4M	$217.6M	50x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.176%	$1.3M	$800K	10x	as long as short
Nado NVDA-PERP	+0.0081%	1h	227.65	−0.092%	$484K	$229K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0092%	8h	227.86	0.000%	$20K	$387K	10x	as long as short
Aevo NVDA-PERP	+0.0096%	1h	227.76	−0.044%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.61	−0.108%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.73	−0.057%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.78	−0.035%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0101%	1h	227.73	−0.057%	$49K	$1.4M	10x	as long as short
Phoenix NVDA	+0.0106%	1h	227.81	−0.022%	$94K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0130%	8h	227.83	−0.013%	$1.6M	$740K	20x	as long as short
Lighter NVDA	+0.0144%	1h	227.81	−0.023%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0144%	1h	227.94	+0.035%	$5.1M	$7.1M	20x	as long as short
BloFin NVDA-USDT	+0.0176%	8h	227.82	−0.018%	$718K	$205K	20x	as long as short
edgeX NVDAUSDC	+0.0181%	4h	227.87	+0.003%	$170K	$1.9M	20x	as long as short
Hotstuff NVDA-PERP	+0.0192%	1h	227.53	−0.145%	$35K	—	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.22	+0.158%	$73K	$138	30x	as long as short