Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.12 per $10,000 · paid last 24h −0.029%
Price spread now: QFEX against Phoenix−0.018%52s7-day average +0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$330.328% of the position
Funding, last 4 days (all we have)−0.024%−$2 on $10k
+Price spread, last 4 days (all we have)+0.022%+$2 · spread now −0.018%, 7d avg +0.016%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and QFEX is 0.034% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.016%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix NVDA | 226.96 | 0.0141 | pay 0.0018% / 1h | 18m 21s | $93K | $112K | 20x |
| Short | QFEX NVDA-USD | 226.92 | 0.0041 | get 0.0005% / 1h | 18m 21s | $1.3M | $9.1M | 10x |
Phoenix NVDA
QFEX NVDA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
QFEX 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
- −$20.99
- Price spread: −0.018% → +0.016%
- −$3.4
- Slippage, 4 orders
- −$15.84
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee QFEX: 5 bp × 2 orders
- −$10
- Net
- −$57.23
- Costs to cover
- 0.328%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 27 min ago; QFEX: 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 Phoenix live order book, 27 min ago | 3.08 bp | 9.4 bp −$9 | 20.5 bp −$205 | doesn't fit | doesn't fit |
| Sell QFEX live order book, 6 min ago | 1.98 bp | 7.0 bp −$7 | 7.7 bp −$77 | 12.0 bp −$1,196 | 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 | −0.0080% | 1h | 226.92 | −0.018% | $35K | — | 20x | as long as short |
| Bybit NVDAUSDT | 0.0000% | 8h | 226.94 | −0.009% | $12.6M | $14.8M | 100x | as long as short |
| OKX NVDA-USDT-SWAP | 0.0000% | 8h | 226.91 | −0.022% | $14.3M | $20.4M | 50x | as long as short |
| Gate NVDA_USDT | 0.0000% | 8h | 226.89 | −0.031% | $7.2M | $9.7M | 100x | as long as short |
| Bitget NVDAUSDT | 0.0000% | 8h | 226.99 | +0.013% | $15.4M | $16.4M | 100x | as long as short |
| GRVT NVDA_USDT_Perp | 0.0000% | 8h | 227.08 | +0.054% | $20K | $396K | 10x | as long as short |
| SunX NVDA-USDT | 0.0000% | 8h | 226.55 | −0.181% | $2K | $3.7M | 20x | as long as short |
| HTX NVDA-USDT | 0.0000% | 8h | 227.26 | +0.132% | $197K | $461K | 30x | as long as short |
| Phemex NVDAUSDT | 0.0000% | 4h | 227.23 | +0.119% | $2.2M | $43K | 10x | as long as short |
| Aster NVDAUSDT | +0.0006% | 8h | 226.96 | 0.000% | $482K | $569K | 20x | as long as short |
Hotstuff NVDA-PERP
Bybit NVDAUSDT
OKX NVDA-USDT-SWAP
Gate NVDA_USDT
Bitget NVDAUSDT
GRVT NVDA_USDT_Perp
SunX NVDA-USDT
HTX NVDA-USDT
Phemex NVDAUSDT
Aster NVDAUSDTShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps NVDAUSD | +0.0012% | 1h | 226.89 | −0.032% | $118K | $53K | 10x | as long as short |
| Deribit NVDA_USDC-PERPETUAL | +0.0015% | 1h | 226.86 | −0.044% | $49K | $1.7M | 10x | as long as short |
| Variational Omni NVDA | +0.0029% | 8h | 227.08 | +0.051% | $3.6M | $2.2M | — | as long as short |
| Lighter NVDA | +0.0032% | 1h | 226.89 | −0.030% | $2.1M | $3.3M | 20x | as long as short |
| Arcus NVDA-USD | +0.0040% | 1h | 226.96 | 0.000% | $398K | $739K | 20x | as long as short |
| QFEX NVDA-USDshort | +0.0041% | 1h | 226.92 | −0.018% | $1.3M | $9.1M | 10x | |
| Vest NVDA-USD-PERP | +0.0046% | 1h | 227.02 | +0.026% | — | $74K | 25x | as long as short |
| tradeXYZ xyz:NVDA | +0.0050% | 1h | 226.79 | −0.075% | $147.4M | $43.4M | 20x | as long as short |
| Polymarket Perps NVDA-USD | +0.0050% | 1h | 226.90 | −0.026% | $400K | $276K | 10x | as long as short |
| SoDEX NVDA-USD | +0.0050% | 1h | 226.79 | −0.075% | $59K | $19K | 10x | as long as short |
| Ondo Perps NVDA-USD.P | +0.0050% | 1h | 226.67 | −0.128% | $1.6M | $2.0M | 15x | as long as short |
| Nado NVDA-PERP | +0.0057% | 1h | 226.82 | −0.061% | $482K | $227K | 20x | as long as short |
| Binance NVDAUSDT | +0.0092% | 8h | 226.95 | −0.005% | $155.5M | $216.3M | 50x | as long as short |
| Pacifica NVDA | +0.0100% | 1h | 226.83 | −0.058% | $298K | $50K | 10x | as long as short |
| KuCoin NVDAUSDTM | +0.0100% | 8h | 226.94 | −0.009% | $1.6M | $729K | 20x | as long as short |
| ApeX Omni NVDAUSDT | +0.0100% | 1h | 226.93 | −0.013% | $16K | $44K | 50x | as long as short |
| Orderly PERP_NVDA_USDC | +0.0100% | 8h | 226.90 | −0.026% | $36K | $21K | 20x | as long as short |
| Aevo NVDA-PERP | +0.0104% | 1h | 226.93 | −0.012% | — | — | 10x | as long as short |
| Lighter RH NVDA | +0.0128% | 1h | 227.06 | +0.044% | $5.1M | $7.1M | 20x | as long as short |
| Coinbase International NVDA-PERP-INTX | +0.0128% | 1h | 227.11 | +0.066% | $1.3M | $782K | 10x | as long as short |
| Phoenix NVDAlong | +0.0141% | 1h | 226.96 | long leg | $93K | $112K | 20x | |
| Extended NVDA_24_5-USD | +0.0200% | 1h | 226.76 | −0.088% | $672K | $765K | 10x | as long as short |
| BloFin NVDA-USDT | +0.0212% | 8h | 227.14 | +0.079% | $718K | $201K | 20x | as long as short |
| Injective NVDA/USDC PERP | +0.0220% | 1h | 227.52 | +0.247% | $73K | $138 | 30x | as long as short |
| edgeX NVDAUSDC | +0.0497% | 4h | 227.06 | +0.045% | $170K | $1.9M | 20x | as long as short |
Aftermath Perps NVDAUSD
Deribit NVDA_USDC-PERPETUAL
Variational Omni NVDA
Lighter NVDA
Arcus 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
Lighter RH NVDA
Coinbase International NVDA-PERP-INTX
Extended NVDA_24_5-USD
BloFin NVDA-USDT
Injective NVDA/USDC PERP
edgeX NVDAUSDC