Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h 0.000%

Price spread now: KuCoin against Phoenix+0.048%7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on Phoenix Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 3 days (all we have)+0.002%$0 · spread now +0.048%, 7d avg +0.027%

Together, before fees+0.079%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and KuCoin is 0.021% dearer against Phoenix than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NVDA	227.74	0.0106	pay 0.0013% / 1h	57m 31s	$94K	$112K	20x
Short	KuCoin NVDAUSDTM	227.85	0.0143	get 0.0143% / 8h	6h 57m	$1.6M	$735K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.048%Rate

Funding earned: $7.86
Price spread: +0.048% → +0.027%: $2.13
Slippage, 4 orders: −$41.41
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$50.42
Costs to cover: 0.604%
Break-even: 51.9 days

Slippage from Phoenix: live order book, 3 min ago; KuCoin: live order book, 3 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, 3 min ago	2.63 bp	8.6 bp −$9	17.9 bp −$179	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	1.32 bp	18.3 bp −$18	doesn't fit	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
Bybit NVDAUSDT	0.0000%	8h	227.79	+0.022%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.78	+0.018%	$14.4M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.73	−0.004%	$7.2M	$9.5M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.31	−0.189%	$2K	$3.8M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.76	+0.009%	$49K	$1.5M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.82	+0.035%	$198K	$505K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.88	+0.061%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0002%	8h	227.80	+0.028%	$484K	$582K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.85	+0.047%	$118K	$55K	10x	as long as short
Variational Omni NVDA	+0.0019%	8h	227.86	+0.051%	$3.5M	$1.9M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.61	−0.057%	$686K	$695K	10x	as long as short
Bitget NVDAUSDT	+0.0032%	8h	227.82	+0.035%	$15.4M	$16.8M	100x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.68	−0.026%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.78	+0.018%	$1.5M	$10.7M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.90	+0.070%	—	$74K	25x	as long as short
Nado NVDA-PERP	+0.0050%	1h	227.67	−0.030%	$484K	$229K	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.64	−0.044%	$148.0M	$46.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.76	+0.009%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.68	−0.026%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.59	−0.066%	$1.5M	$2.1M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.123%	$1.3M	$798K	10x	as long as short
Lighter RH NVDA	+0.0080%	1h	227.93	+0.083%	$5.1M	$7.0M	20x	as long as short
Hotstuff NVDA-PERP	+0.0080%	1h	227.65	−0.040%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0087%	8h	227.80	+0.026%	$156.4M	$216.9M	50x	as long as short
Lighter NVDA	+0.0096%	1h	227.80	+0.026%	$2.2M	$3.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.67	−0.032%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.72	−0.009%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.80	+0.026%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.80	+0.028%	—	—	10x	as long as short
Phoenix NVDAlong	+0.0106%	1h	227.74	long leg	$94K	$112K	20x
KuCoin NVDAUSDTMshort	+0.0143%	8h	227.85	+0.048%	$1.6M	$735K	20x
GRVT NVDA_USDT_Perp	+0.0169%	8h	227.88	+0.061%	$20K	$392K	10x	as long as short
BloFin NVDA-USDT	+0.0208%	8h	227.88	+0.061%	$720K	$205K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.20	+0.202%	$73K	$133	30x	as long as short
edgeX NVDAUSDC	+0.0417%	4h	227.87	+0.058%	$170K	$1.9M	20x	as long as short