Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against SunX+0.291%7-day average +0.145% · you sell dearer than you buy

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$149as in the Price arb table

costs, in and out, $10k−$1641.638% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.186%−$19 · spread now +0.291%, 7d avg +0.145%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.146% dearer against SunX than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of +0.145%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NVDA-USDT	226.61	0	get 0.0000% / 8h	3h 15m	$2K	$3.7M	20x
Short	Phemex NVDAUSDT	227.27	0	get 0.0000% / 4h	3h 15m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SunX. 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 SunXbpFee PhemexbpOrdersPrice spread, now +0.291%Rate

Funding earned: $0
Price spread: +0.291% → +0.145%: $14.61
Slippage, 4 orders: −$143.78
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$149.17
Costs to cover: 1.638%
Break-even: never at this rate

Slippage from SunX: live order book, 2 min ago; Phemex: 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 SunX live order book, 2 min ago	22.03 bp	38.2 bp −$38	67.5 bp −$675	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.20 bp	55.5 bp −$55	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	227.01	+0.177%	$12.6M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.98	+0.163%	$14.3M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.97	+0.159%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.03	+0.185%	$15.4M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.04	+0.190%	$21K	$399K	10x	as long as short
SunX NVDA-USDTlong	0.0000%	8h	226.61	long leg	$2K	$3.7M	20x
HTX NVDA-USDT	0.0000%	8h	227.03	+0.185%	$197K	$461K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.27	+0.291%	$2.2M	$43K	10x
Aster NVDAUSDT	+0.0006%	8h	227.06	+0.198%	$482K	$569K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	226.89	+0.122%	$118K	$52K	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	+0.0028%	8h	226.96	+0.152%	$3.6M	$2.2M	—	as long as short
Lighter NVDA	+0.0032%	1h	226.98	+0.164%	$2.1M	$3.3M	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.95	+0.150%	$398K	$738K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.01	+0.177%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.10	+0.216%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.86	+0.110%	$147.4M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.00	+0.172%	$400K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.85	+0.106%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.73	+0.053%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0060%	1h	226.91	+0.134%	$482K	$227K	20x	as long as short
Binance NVDAUSDT	+0.0093%	8h	227.02	+0.181%	$155.5M	$216.5M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.90	+0.128%	$298K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.05	+0.194%	$1.6M	$729K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.80	+0.084%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.97	+0.159%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.99	+0.169%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.11	+0.221%	$1.3M	$781K	10x	as long as short
Lighter RH NVDA	+0.0136%	1h	227.14	+0.234%	$5.1M	$7.1M	20x	as long as short
Hotstuff NVDA-PERP	+0.0136%	1h	226.86	+0.110%	$35K	—	20x	as long as short
Phoenix NVDA	+0.0141%	1h	226.87	+0.115%	$93K	$112K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0147%	1h	226.97	+0.159%	$49K	$1.7M	10x	as long as short
Extended NVDA_24_5-USD	+0.0208%	1h	226.81	+0.090%	$672K	$765K	10x	as long as short
BloFin NVDA-USDT	+0.0212%	8h	227.10	+0.216%	$719K	$201K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.32	+0.313%	$73K	$139	30x	as long as short
edgeX NVDAUSDC	+0.0261%	4h	227.00	+0.174%	$170K	$1.9M	20x	as long as short