NVDA

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0130%/8h= +14.2% APRnext payment +$0.16 per $10,000 · paid last 24h +0.004%

Price spread now: Deribit against Phoenix+0.022%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Phoenix Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now +0.022%, 7d avg −0.004%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.026% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NVDA	226.54	0.0106	pay 0.0013% / 1h	16m 56s	$93K	$112K	20x
Short	Deribit NVDA_USDC-PERPETUAL	226.59	0.0236	get 0.0029% / 1h	16m 56s	$52K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Phoenix. 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 PhoenixbpFee DeribitbpOrdersPrice spread, now +0.022%Rate

Funding earned: $27.25
Price spread: +0.022% → −0.004%: $2.57
Slippage, 4 orders: −$18.18
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$2.37
Costs to cover: 0.322%
Break-even: 7.6 days

Slippage from Phoenix: live order book, 18 min ago; Deribit: live order book, 2 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 Phoenix live order book, 18 min ago	3.10 bp	9.1 bp −$9	19.3 bp −$193	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	3.31 bp	6.8 bp −$7	7.3 bp −$73	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
Hotstuff NVDA-PERP	−0.0032%	1h	226.56	+0.009%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.52	−0.011%	$482K	$530K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.65	+0.049%	$12.4M	$14.7M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.69	+0.066%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.63	+0.040%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.72	+0.079%	$15.2M	$16.1M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.64	+0.044%	$21K	$420K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.29	−0.110%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.60	+0.026%	$198K	$450K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.78	+0.106%	$2.2M	$42K	10x	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	+0.0012%	1h	226.39	−0.066%	$117K	$51K	10x	as long as short
Variational Omni NVDA	+0.0017%	8h	226.62	+0.033%	$3.5M	$2.3M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.59	+0.022%	$399K	$732K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.77	+0.102%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.56	+0.009%	$147.2M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.61	+0.031%	$391K	$285K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.56	+0.009%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.50	−0.018%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.63	+0.040%	$1.3M	$9.1M	10x	as long as short
edgeX NVDAUSDC	+0.0070%	4h	226.59	+0.023%	$170K	$1.9M	20x	as long as short
Binance NVDAUSDT	+0.0085%	8h	226.68	+0.061%	$154.5M	$218.4M	50x	as long as short
Lighter NVDA	+0.0088%	1h	226.63	+0.041%	$2.1M	$3.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.52	−0.010%	$297K	$46K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.61	+0.031%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.46	−0.035%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.63	+0.040%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.66	+0.053%	—	—	10x	as long as short
Phoenix NVDAlong	+0.0106%	1h	226.54	long leg	$93K	$112K	20x
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.110%	$1.3M	$724K	10x	as long as short
Nado NVDA-PERP	+0.0119%	1h	226.55	+0.004%	$481K	$224K	20x	as long as short
Lighter RH NVDA	+0.0120%	1h	226.77	+0.102%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0205%	8h	226.71	+0.075%	$710K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.88	+0.150%	$73K	$139	30x	as long as short
Deribit NVDA_USDC-PERPETUALshort	+0.0236%	1h	226.59	+0.022%	$52K	$1.8M	10x
Extended NVDA_24_5-USD	+0.0376%	1h	226.47	−0.031%	$627K	$838K	10x	as long as short