Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%

Price spread now: tradeXYZ against Phemex−0.097%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$103as in the Price arb table

costs, in and out, $10k−$1011.014% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)+0.067%+$7 · spread now −0.097%, 7d avg −0.082%

Together, before fees+0.215%+ Points / potential airdroptradeXYZ: Active · farm board+$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.082%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.61	0	get 0.0000% / 4h	1h 23m	$2.2M	$42K	10x
Short	tradeXYZ xyz:NVDA	226.39	0.0050	get 0.0006% / 1h	23m 58s	$147.1M	$43.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.097%Rate

Funding earned: $10.5
Price spread: −0.097% → −0.082%: −$1.47
Slippage, 4 orders: −$71.39
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$92.36
Costs to cover: 1.014%
Break-even: 68.6 days

Slippage from Phemex: live order book, 4 min ago; tradeXYZ: live order book, 6 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, 4 min ago	1.32 bp	41.4 bp −$41	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.22 bp	9.5 bp −$10	11.1 bp −$111	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	226.47	−0.063%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.52	−0.040%	$12.4M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.51	−0.044%	$14.1M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.46	−0.066%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.52	−0.040%	$15.2M	$16.0M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.48	−0.058%	$22K	$418K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.12	−0.216%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.57	−0.018%	$198K	$451K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.61	long leg	$2.2M	$42K	10x
Aftermath Perps NVDAUSD	+0.0014%	1h	226.25	−0.157%	$117K	$51K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0016%	8h	226.48	−0.059%	$3.4M	$2.3M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.40	−0.093%	$399K	$731K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.57	−0.018%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDAshort	+0.0050%	1h	226.39	−0.097%	$147.1M	$43.4M	20x
Polymarket Perps NVDA-USD	+0.0050%	1h	226.41	−0.088%	$391K	$285K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.38	−0.101%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.19	−0.185%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.45	−0.071%	$1.3M	$9.1M	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0059%	1h	226.39	−0.097%	$52K	$1.8M	10x	as long as short
Lighter NVDA	+0.0080%	1h	226.47	−0.060%	$2.1M	$3.3M	20x	as long as short
Binance NVDAUSDT	+0.0083%	8h	226.53	−0.037%	$154.5M	$218.0M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.33	−0.122%	$297K	$46K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.45	−0.071%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.33	−0.124%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.44	−0.075%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.47	−0.064%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.32	−0.128%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.141%	$1.3M	$732K	10x	as long as short
Lighter RH NVDA	+0.0120%	1h	226.61	0.000%	$5.0M	$7.0M	20x	as long as short
Nado NVDA-PERP	+0.0120%	1h	226.36	−0.108%	$481K	$224K	20x	as long as short
Hotstuff NVDA-PERP	+0.0128%	1h	226.33	−0.124%	$35K	—	20x	as long as short
BloFin NVDA-USDT	+0.0203%	8h	226.45	−0.071%	$711K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.67	+0.026%	$73K	$138	30x	as long as short
Extended NVDA_24_5-USD	+0.0392%	1h	226.37	−0.106%	$623K	$833K	10x	as long as short
edgeX NVDAUSDC	+0.0723%	4h	226.45	−0.070%	$170K	$1.9M	20x	as long as short