Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0106%/8h= +11.6% APRpaid last 24h +0.022%

Price spread now: Phoenix against Aster0.000%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 3 days (all we have)−0.021%−$2 · spread now 0.000%, 7d avg −0.026%

Together, before fees+0.074%+ Points / potential airdropAster: Stage 5 · farm board+$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.026% dearer against Aster than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster NVDAUSDT	227.61	0	get 0.0000% / 8h	7h 31m	$483K	$586K	20x
Short	Phoenix NVDA	227.61	0.0106	get 0.0013% / 1h	31m 16s	$94K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now 0.000%Rate

Funding earned: $22.17
Price spread: 0.000% → −0.026%: $2.63
Slippage, 4 orders: −$14.06
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$4.27
Costs to cover: 0.291%
Break-even: 8.3 days

Slippage from Aster: live order book, 41 min ago; Phoenix: live order book, 34 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, 41 min ago	0.88 bp	4.9 bp −$5	7.1 bp −$71	doesn't fit	doesn't fit
Sell Phoenix live order book, 34 min ago	3.08 bp	9.4 bp −$9	20.8 bp −$208	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 NVDAUSDTlong	0.0000%	8h	227.61	long leg	$483K	$586K	20x
Bybit NVDAUSDT	0.0000%	8h	227.76	+0.066%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.77	+0.071%	$14.4M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.70	+0.040%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.79	+0.079%	$3.6M	$1.9M	—	as long as short
SunX NVDA-USDT	0.0000%	8h	227.36	−0.110%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.77	+0.071%	$198K	$511K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.81	+0.088%	$2.2M	$42K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0009%	8h	227.62	+0.005%	$20K	$395K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	227.59	−0.009%	$35K	—	20x	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	+0.0016%	1h	227.50	−0.049%	$118K	$55K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.53	−0.033%	$530K	$467K	10x	as long as short
Bitget NVDAUSDT	+0.0036%	8h	227.83	+0.097%	$15.5M	$16.9M	100x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.51	−0.044%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.73	+0.053%	$1.6M	$11.2M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.79	+0.079%	—	$74K	25x	as long as short
Binance NVDAUSDT	+0.0046%	8h	227.81	+0.087%	$156.5M	$217.3M	50x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.58	−0.013%	$147.8M	$46.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.68	+0.031%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.60	−0.004%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.39	−0.096%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0077%	1h	227.63	+0.008%	$484K	$229K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.066%	$1.3M	$800K	10x	as long as short
Aevo NVDA-PERP	+0.0096%	1h	227.73	+0.054%	—	—	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.61	0.000%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.49	−0.053%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.73	+0.053%	$36K	$22K	20x	as long as short
Phoenix NVDAshort	+0.0106%	1h	227.61	0.000%	$94K	$112K	20x
KuCoin NVDAUSDTM	+0.0125%	8h	227.67	+0.027%	$1.6M	$742K	20x	as long as short
Lighter NVDA	+0.0136%	1h	227.78	+0.074%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0136%	1h	227.90	+0.128%	$5.1M	$7.1M	20x	as long as short
BloFin NVDA-USDT	+0.0166%	8h	227.82	+0.092%	$717K	$206K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.22	+0.268%	$73K	$138	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0277%	1h	227.72	+0.049%	$49K	$1.4M	10x	as long as short
edgeX NVDAUSDC	+0.0627%	4h	227.62	+0.003%	$170K	$1.9M	20x	as long as short