Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.025%

Price spread now: Phemex against Bitget+0.049%46s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$940.936% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.169%−$17 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.049%, 7d avg 0.000%

Together, before fees−0.249%−$25 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 0.048% dearer against Bitget than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of 0.000%. The two prices were read 46 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	Bitget NVDAUSDT	226.49	0	get 0.0000% / 8h	1h 29m	$15.2M	$16.0M	100x
Short	Phemex NVDAUSDT	226.60	0	get 0.0000% / 4h	1h 29m	$2.2M	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now +0.049%Rate

Funding earned: $0
Price spread: +0.049% → 0.000%: $4.84
Slippage, 4 orders: −$69.61
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$88.77
Costs to cover: 0.936%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Phemex: 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 Bitget live order book, 4 min ago	0.22 bp	7.4 bp −$7	10.7 bp −$107	29.1 bp −$2,910	doesn't fit
Sell Phemex live order book, 4 min ago	0.44 bp	41.6 bp −$42	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	226.47	−0.010%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.46	−0.013%	$12.4M	$14.9M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.43	−0.026%	$14.1M	$20.6M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.43	−0.026%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDTlong	0.0000%	8h	226.49	long leg	$15.2M	$16.0M	100x
GRVT NVDA_USDT_Perp	0.0000%	8h	226.34	−0.066%	$21K	$419K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.03	−0.203%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.46	−0.013%	$198K	$452K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.60	+0.049%	$2.2M	$42K	10x
Variational Omni NVDA	+0.0016%	8h	226.32	−0.077%	$3.5M	$2.2M	—	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	+0.0017%	1h	226.15	−0.150%	$117K	$51K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.29	−0.088%	$398K	$729K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.54	+0.022%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.32	−0.075%	$147.0M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.39	−0.044%	$391K	$285K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.23	−0.115%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.08	−0.181%	$1.6M	$1.9M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	226.29	−0.088%	$35K	—	20x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.43	−0.026%	$1.3M	$9.1M	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0059%	1h	226.32	−0.075%	$53K	$1.8M	10x	as long as short
Binance NVDAUSDT	+0.0085%	8h	226.48	−0.004%	$154.5M	$217.9M	50x	as long as short
Lighter NVDA	+0.0088%	1h	226.41	−0.036%	$2.1M	$3.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.29	−0.090%	$297K	$46K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.34	−0.066%	$1.6M	$744K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.16	−0.146%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.35	−0.062%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.37	−0.053%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.26	−0.102%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.088%	$1.3M	$733K	10x	as long as short
Nado NVDA-PERP	+0.0128%	1h	226.30	−0.084%	$481K	$224K	20x	as long as short
Lighter RH NVDA	+0.0128%	1h	226.54	+0.022%	$5.0M	$6.9M	20x	as long as short
BloFin NVDA-USDT	+0.0206%	8h	226.44	−0.022%	$714K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.67	+0.079%	$73K	$138	30x	as long as short
Extended NVDA_24_5-USD	+0.0440%	1h	226.27	−0.097%	$658K	$770K	10x	as long as short
edgeX NVDAUSDC	+0.0818%	4h	226.29	−0.086%	$170K	$1.9M	20x	as long as short