Funding you earn now, next payment 04:00 UTC−0.0109%/8h= −11.9% APRnext payment −$0.14 per $10,000 · paid last 24h +0.002%
Price spread now: Lighter against Phoenix+0.049%7-day average +0.024% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$200.201% of the position
Funding, last 7 days+0.050%+$5 on $10k
+Price spread, last 4 days (all we have)−0.019%−$2 · spread now +0.049%, 7d avg +0.024%
=Together, before fees+0.031%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter is 0.025% dearer against Phoenix than usual: you sell high and buy low (spread +0.049% now, against its 7-day average of +0.024%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 18 hours. Mind the row above: over the last 7 days funding on this pair paid +0.050%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NVDA | 226.87 | 0.0141 | pay 0.0018% / 1h | 15m 24s | $93K | $112K | 20x |
| Short | Lighter NVDA | 226.98 | 0.0032 | get 0.0004% / 1h | 15m 24s | $2.1M | $3.3M | 20x |
Phoenix NVDA
Lighter NVDAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$22.81
- Price spread: +0.049% → +0.024%
- $2.5
- Slippage, 4 orders
- −$13.11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$40.41
- Costs to cover
- 0.201%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 30 min ago; Lighter: 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, 30 min ago | 3.08 bp | 9.4 bp −$9 | 20.5 bp −$205 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 2 min ago | 0.37 bp | 0.4 bp $0 | 1.4 bp −$14 | 9.1 bp −$913 | 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 | 227.01 | +0.062% | $12.6M | $14.8M | 100x | as long as short |
| OKX NVDA-USDT-SWAP | 0.0000% | 8h | 226.98 | +0.048% | $14.3M | $20.4M | 50x | as long as short |
| Gate NVDA_USDT | 0.0000% | 8h | 226.94 | +0.031% | $7.2M | $9.7M | 100x | as long as short |
| Bitget NVDAUSDT | 0.0000% | 8h | 227.03 | +0.071% | $15.4M | $16.4M | 100x | as long as short |
| GRVT NVDA_USDT_Perp | 0.0000% | 8h | 227.04 | +0.075% | $21K | $399K | 10x | as long as short |
| SunX NVDA-USDT | 0.0000% | 8h | 226.61 | −0.115% | $2K | $3.7M | 20x | as long as short |
| HTX NVDA-USDT | 0.0000% | 8h | 227.03 | +0.071% | $197K | $461K | 30x | as long as short |
| Phemex NVDAUSDT | 0.0000% | 4h | 227.27 | +0.176% | $2.2M | $43K | 10x | as long as short |
| Aster NVDAUSDT | +0.0006% | 8h | 227.06 | +0.082% | $482K | $569K | 20x | as long as short |
| Aftermath Perps NVDAUSD | +0.0012% | 1h | 226.89 | +0.007% | $118K | $52K | 10x | as long as short |
Bybit NVDAUSDT
OKX NVDA-USDT-SWAP
Gate NVDA_USDT
Bitget NVDAUSDT
GRVT NVDA_USDT_Perp
SunX NVDA-USDT
HTX NVDA-USDT
Phemex NVDAUSDT
Aster NVDAUSDT
Aftermath Perps NVDAUSDShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni NVDA | +0.0028% | 8h | 226.96 | +0.038% | $3.6M | $2.2M | — | as long as short |
| Lighter NVDAshort | +0.0032% | 1h | 226.98 | +0.049% | $2.1M | $3.3M | 20x | |
| Arcus NVDA-USD | +0.0040% | 1h | 226.95 | +0.035% | $398K | $738K | 20x | as long as short |
| QFEX NVDA-USD | +0.0041% | 1h | 227.01 | +0.062% | $1.3M | $9.1M | 10x | as long as short |
| Vest NVDA-USD-PERP | +0.0046% | 1h | 227.09 | +0.097% | — | $74K | 25x | as long as short |
| tradeXYZ xyz:NVDA | +0.0050% | 1h | 226.85 | −0.009% | $147.4M | $43.4M | 20x | as long as short |
| Polymarket Perps NVDA-USD | +0.0050% | 1h | 226.96 | +0.040% | $400K | $276K | 10x | as long as short |
| SoDEX NVDA-USD | +0.0050% | 1h | 226.85 | −0.009% | $59K | $19K | 10x | as long as short |
| Ondo Perps NVDA-USD.P | +0.0050% | 1h | 226.73 | −0.062% | $1.6M | $2.0M | 15x | as long as short |
| Nado NVDA-PERP | +0.0060% | 1h | 226.90 | +0.015% | $482K | $227K | 20x | as long as short |
| Binance NVDAUSDT | +0.0093% | 8h | 227.02 | +0.066% | $155.5M | $216.5M | 50x | as long as short |
| Pacifica NVDA | +0.0100% | 1h | 226.90 | +0.013% | $298K | $50K | 10x | as long as short |
| KuCoin NVDAUSDTM | +0.0100% | 8h | 227.03 | +0.071% | $1.6M | $729K | 20x | as long as short |
| ApeX Omni NVDAUSDT | +0.0100% | 1h | 226.86 | −0.004% | $16K | $44K | 50x | as long as short |
| Orderly PERP_NVDA_USDC | +0.0100% | 8h | 226.97 | +0.044% | $36K | $21K | 20x | as long as short |
| Aevo NVDA-PERP | +0.0104% | 1h | 226.99 | +0.055% | — | — | 10x | as long as short |
| Coinbase International NVDA-PERP-INTX | +0.0128% | 1h | 227.11 | +0.106% | $1.3M | $781K | 10x | as long as short |
| Lighter RH NVDA | +0.0136% | 1h | 227.14 | +0.119% | $5.1M | $7.1M | 20x | as long as short |
| Hotstuff NVDA-PERP | +0.0136% | 1h | 226.86 | −0.004% | $35K | — | 20x | as long as short |
| Phoenix NVDAlong | +0.0141% | 1h | 226.87 | long leg | $93K | $112K | 20x | |
| Deribit NVDA_USDC-PERPETUAL | +0.0147% | 1h | 226.97 | +0.044% | $49K | $1.7M | 10x | as long as short |
| Extended NVDA_24_5-USD | +0.0208% | 1h | 226.81 | −0.024% | $672K | $765K | 10x | as long as short |
| BloFin NVDA-USDT | +0.0212% | 8h | 227.10 | +0.101% | $719K | $201K | 20x | as long as short |
| Injective NVDA/USDC PERP | +0.0220% | 1h | 227.32 | +0.198% | $73K | $139 | 30x | as long as short |
| edgeX NVDAUSDC | +0.0261% | 4h | 227.00 | +0.059% | $170K | $1.9M | 20x | as long as short |
Variational Omni NVDA
Arcus NVDA-USD
QFEX NVDA-USD
Vest NVDA-USD-PERP
tradeXYZ xyz:NVDA
Polymarket Perps NVDA-USD
SoDEX NVDA-USD
Ondo Perps NVDA-USD.P
Nado NVDA-PERP
Binance NVDAUSDT
Pacifica NVDA
KuCoin NVDAUSDTM
ApeX Omni NVDAUSDT
Orderly PERP_NVDA_USDC
Aevo NVDA-PERP
Coinbase International NVDA-PERP-INTX
Lighter RH NVDA
Hotstuff NVDA-PERP
Deribit NVDA_USDC-PERPETUAL
Extended NVDA_24_5-USD
BloFin NVDA-USDT
Injective NVDA/USDC PERP
edgeX NVDAUSDC