Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.013%

Price spread now: Lighter against Binance+0.004%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$120.119% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 2 days (all we have)−0.055%−$5 · spread now +0.004%, 7d avg −0.009%

Together, before fees+0.047%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% 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	Binance NVDAUSDT	227.60	0.0044	pay 0.0044% / 8h	43m 41s	$156.4M	$220.2M	50x
Short	Lighter NVDA	227.61	0.0256	get 0.0032% / 1h	43m 41s	$2.1M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.004%Rate

Funding earned: $44.57
Price spread: +0.004% → −0.009%: $1.32
Slippage, 4 orders: −$1.86
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $34.03
Costs to cover: 0.119%
Break-even: 1.7 days

Slippage from Binance: live order book, 15 min ago; Lighter: live order book, 4 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 Binance live order book, 15 min ago	0.22 bp	5.2 bp −$5	5.8 bp −$58	16.6 bp −$1,665	doesn't fit
Sell Lighter live order book, 4 min ago	0.42 bp	0.9 bp −$1	1.9 bp −$19	8.7 bp −$867	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	227.42	−0.079%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.58	−0.009%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.55	−0.022%	$14.4M	$21.1M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.49	−0.048%	$7.2M	$9.6M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.45	−0.067%	$3.6M	$2.1M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.48	−0.053%	$20K	$427K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.96	−0.281%	$2K	$4.0M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.48	−0.053%	$198K	$524K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.55	−0.022%	$2.2M	$42K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0030%	1h	227.41	−0.084%	$118K	$55K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance NVDAUSDTlong	+0.0044%	8h	227.60	long leg	$156.4M	$220.2M	50x
Bitget NVDAUSDT	+0.0045%	8h	227.62	+0.009%	$15.6M	$17.7M	100x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.58	−0.009%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.44	−0.070%	$147.5M	$48.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.45	−0.066%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.41	−0.083%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.30	−0.132%	$1.6M	$2.1M	15x	as long as short
Extended NVDA_24_5-USD	+0.0056%	1h	227.35	−0.110%	$536K	$446K	10x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.39	−0.092%	$35K	—	20x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.51	−0.040%	$1.6M	$11.4M	10x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.54	−0.026%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0092%	1h	227.38	−0.099%	$484K	$228K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.259%	$1.3M	$862K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.41	−0.083%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.51	−0.040%	$1.6M	$745K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.30	−0.132%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.52	−0.035%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.34	−0.114%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.40	−0.088%	$400K	$724K	20x	as long as short
BloFin NVDA-USDT	+0.0162%	8h	227.49	−0.048%	$671K	$204K	20x	as long as short
edgeX NVDAUSDC	+0.0183%	4h	227.45	−0.067%	$170K	$1.9M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.73	+0.057%	$73K	$135	30x	as long as short
Lighter RH NVDA	+0.0240%	1h	227.70	+0.044%	$5.1M	$7.2M	20x	as long as short
Lighter NVDAshort	+0.0256%	1h	227.61	+0.004%	$2.1M	$3.3M	20x
Deribit NVDA_USDC-PERPETUAL	+0.0366%	1h	227.51	−0.040%	$49K	$1.4M	10x	as long as short