Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h −0.019%

Price spread now: Phemex against Variational Omni+0.006%7-day average +0.032% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.006%, 7d avg +0.032%

Together, before fees−0.080%+ Points / potential airdropVariational Omni: Active · farm board−$8 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 0.026% cheaper against Variational Omni than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni NVDA	226.76	0.0009	pay 0.0009% / 8h	2h 04m	$3.6M	$2.1M	—
Short	Phemex NVDAUSDT	226.77	0	get 0.0000% / 4h	2h 04m	$2.2M	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Variational Omni. 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 Variational OmnibpFee PhemexbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$1.87
Price spread: +0.006% → +0.032%: −$2.59
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$16.46
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Phemex: live order book, 4 min ago. 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 Variational Omni RFQ quote, 5 min ago	2.80 bp	doesn't fit	5.0 bp −$50	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.32 bp	31.7 bp −$32	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
Aster NVDAUSDT	0.0000%	8h	226.60	−0.070%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.63	−0.055%	$12.5M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.61	−0.064%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.64	−0.051%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.66	−0.042%	$15.3M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.82	+0.029%	$21K	$417K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.48	−0.121%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.71	−0.020%	$198K	$456K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.77	+0.006%	$2.2M	$42K	10x
Variational Omni NVDAlong	+0.0009%	8h	226.76	long leg	$3.6M	$2.1M	—

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0010%	1h	226.56	−0.086%	$117K	$52K	10x	as long as short
Hotstuff NVDA-PERP	+0.0032%	1h	226.58	−0.077%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.66	−0.042%	$398K	$734K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.62	−0.060%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.81	+0.024%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.51	−0.108%	$147.2M	$43.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.61	−0.064%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.52	−0.104%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.56	−0.086%	$1.6M	$2.0M	15x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0059%	1h	226.59	−0.073%	$53K	$1.8M	10x	as long as short
Lighter NVDA	+0.0072%	1h	226.60	−0.068%	$2.1M	$3.4M	20x	as long as short
Binance NVDAUSDT	+0.0081%	8h	226.64	−0.051%	$154.5M	$219.0M	50x	as long as short
Nado NVDA-PERP	+0.0085%	1h	226.56	−0.084%	$482K	$226K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.53	−0.097%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.70	−0.024%	$1.6M	$744K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.63	−0.055%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.61	−0.064%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.65	−0.048%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.65	−0.046%	$93K	$112K	20x	as long as short
Lighter RH NVDA	+0.0112%	1h	226.75	−0.002%	$5.1M	$7.1M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.29	−0.205%	$1.3M	$789K	10x	as long as short
BloFin NVDA-USDT	+0.0202%	8h	226.73	−0.011%	$710K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.95	+0.086%	$73K	$140	30x	as long as short
Extended NVDA_24_5-USD	+0.0376%	1h	226.53	−0.099%	$668K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0738%	4h	226.73	−0.013%	$170K	$1.9M	20x	as long as short