Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0200%/8h= +21.9% APRpaid last 24h +0.024%

Price spread now: Lighter against Aster+0.019%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$110.112% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 4 days (all we have)−0.072%−$7 · spread now +0.019%, 7d avg −0.006%

Together, before fees+0.065%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.025% dearer against Aster than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.006%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.137% in total (about 7.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NVDAUSDT	227.42	0	get 0.0000% / 8h	1h 05m	$482K	$587K	20x
Short	Lighter NVDA	227.46	0.0200	get 0.0025% / 1h	5m 16s	$2.1M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.019%Rate

Funding earned: $42
Price spread: +0.019% → −0.006%: $2.49
Slippage, 4 orders: −$3.18
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $33.31
Costs to cover: 0.112%
Break-even: 1.4 days

Slippage from Aster: live order book, 12 min ago; Lighter: live order book, 7 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 Aster live order book, 12 min ago	0.22 bp	5.5 bp −$5	7.7 bp −$77	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.29 bp	0.3 bp $0	0.8 bp −$8	21.0 bp −$2,101	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	−0.0024%	1h	227.28	−0.062%	$35K	—	20x	as long as short
Aster NVDAUSDTlong	0.0000%	8h	227.42	long leg	$482K	$587K	20x
Bybit NVDAUSDT	0.0000%	8h	227.43	+0.004%	$12.7M	$15.5M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.39	−0.013%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.37	−0.022%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.41	−0.003%	$3.5M	$2.3M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.50	+0.036%	$20K	$432K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.90	−0.229%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.47	+0.022%	$198K	$526K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.48	+0.026%	$2.2M	$41K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0023%	1h	227.46	+0.020%	$118K	$55K	10x	as long as short
Binance NVDAUSDT	+0.0026%	8h	227.46	+0.016%	$156.3M	$220.5M	50x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.23	−0.086%	$536K	$446K	10x	as long as short
Bitget NVDAUSDT	+0.0033%	8h	227.45	+0.013%	$15.6M	$17.7M	100x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.37	−0.022%	$1.6M	$11.4M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.45	+0.013%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.29	−0.057%	$147.3M	$48.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.31	−0.048%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.28	−0.062%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.23	−0.084%	$1.6M	$2.1M	15x	as long as short
Phoenix NVDA	+0.0070%	1h	227.31	−0.048%	$93K	$112K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.42	0.000%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.180%	$1.3M	$863K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.26	−0.070%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.45	+0.013%	$1.6M	$749K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.29	−0.057%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.39	−0.013%	$36K	$22K	20x	as long as short
Nado NVDA-PERP	+0.0103%	1h	227.26	−0.070%	$483K	$227K	20x	as long as short
BloFin NVDA-USDT	+0.0106%	8h	227.44	+0.009%	$672K	$204K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0146%	1h	227.34	−0.035%	$49K	$1.4M	10x	as long as short
Lighter RH NVDA	+0.0184%	1h	227.57	+0.066%	$5.1M	$7.2M	20x	as long as short
Lighter NVDAshort	+0.0200%	1h	227.46	+0.019%	$2.1M	$3.3M	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.71	+0.128%	$73K	$140	30x	as long as short
Arcus NVDA-USD	+0.0305%	1h	227.25	−0.075%	$400K	$723K	20x	as long as short
edgeX NVDAUSDC	+0.0467%	4h	227.41	−0.005%	$170K	$1.9M	20x	as long as short