Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0176%/8h= +19.2% APRpaid last 24h +0.041%

Price spread now: Phoenix against SunX+0.212%51s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.238%+$24 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.212% dearer against SunX than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 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	SunX NVDA-USDT	226.68	0	get 0.0000% / 8h	4h 45m	$2K	$3.2M	20x
Short	Phoenix NVDA	227.16	0.0176	get 0.0022% / 1h	45m 31s	$93K	$83K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.212%Rate

Funding earned: $36.89
Price spread: +0.212% → 0.000%: $21.18
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $43.07
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: SunX: live order book, 6 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 6 min ago	22.00 bp	38.1 bp −$38	67.6 bp −$676	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

NVDA on 35 exchanges

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	−0.1600%	1h	227.26	+0.256%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.13	+0.199%	$12.5M	$16.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.16	+0.212%	$14.5M	$21.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.07	+0.172%	$7.2M	$9.1M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.23	+0.243%	$15.6M	$15.5M	100x	as long as short
SunX NVDA-USDTlong	0.0000%	8h	226.68	long leg	$2K	$3.2M	20x
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.98	+0.132%	$16K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.11	+0.190%	$198K	$399K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.28	+0.265%	$2.2M	$41K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0016%	1h	227.12	+0.193%	$117K	$51K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0030%	8h	227.19	+0.224%	$20K	$420K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	226.96	+0.123%	$608K	$929K	10x	as long as short
QFEX NVDA-USD	+0.0038%	1h	227.07	+0.172%	$1.3M	$9.0M	10x	as long as short
Lighter NVDA	+0.0040%	1h	227.07	+0.174%	$2.0M	$3.1M	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.28	+0.265%	—	$74K	25x	as long as short
Aster NVDAUSDT	+0.0046%	8h	227.14	+0.201%	$483K	$565K	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.00	+0.141%	$149.1M	$44.7M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.09	+0.181%	$395K	$257K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.99	+0.137%	$59K	$16K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.08	+0.176%	$1.5M	$1.9M	15x	as long as short
Arcus NVDA-USD	+0.0083%	1h	227.05	+0.163%	$383K	$721K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.96	+0.125%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.09	+0.181%	$16K	$45K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.07	+0.172%	$36K	$19K	20x	as long as short
Nado NVDA-PERP	+0.0105%	1h	227.00	+0.140%	$477K	$198K	20x	as long as short
Aevo NVDA-PERP	+0.0128%	1h	227.02	+0.149%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.10	+0.185%	$1.3M	$675K	10x	as long as short
Variational Omni NVDA	+0.0132%	8h	227.04	+0.158%	$3.3M	$2.4M	—	as long as short
Lighter RH NVDA	+0.0136%	1h	227.25	+0.251%	$5.3M	$7.1M	20x	as long as short
KuCoin NVDAUSDTM	+0.0152%	8h	227.20	+0.229%	$1.6M	$1.6M	20x	as long as short
Phoenix NVDAshort	+0.0176%	1h	227.16	+0.212%	$93K	$83K	20x
Binance NVDAUSDT	+0.0182%	8h	227.13	+0.200%	$155.0M	$226.0M	50x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.54	+0.379%	$73K	$135	30x	as long as short
BloFin NVDA-USDT	+0.0306%	8h	227.23	+0.243%	$750K	$205K	20x	as long as short
edgeX NVDAUSDC	+0.0819%	4h	227.14	+0.205%	$173K	$2.0M	20x	as long as short