Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0226%/8h= −24.7% APRpaid last 24h −0.053%

Price spread now: Phemex against BloFin+0.018%59s7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$127as 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−$960.961% of the position

Long on BloFin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.309%−$31 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.018%, 7d avg +0.018%

Together, before fees−0.298%−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.018%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 59 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	BloFin NVDA-USDT	227.43	0.0226	pay 0.0226% / 8h	3h 43m	$719K	$201K	20x
Short	Phemex NVDAUSDT	227.47	0	get 0.0000% / 4h	3h 43m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against BloFin. 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 BloFinbpFee PhemexbpOrdersPrice spread, now +0.018%Rate

Funding earned: −$47.38
Price spread: +0.018% → +0.018%: $0
Slippage, 4 orders: −$72.07
Fee BloFin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$143.45
Costs to cover: 0.961%
Break-even: never at this rate

Slippage from BloFin: live order book, 53 min ago; Phemex: live order book, 5 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 BloFin live order book, 53 min ago	0.22 bp	6.2 bp −$6	6.5 bp −$65	12.4 bp −$1,245	doesn't fit
Sell Phemex live order book, 5 min ago	1.10 bp	39.5 bp −$39	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
Bybit NVDAUSDT	0.0000%	8h	227.38	−0.022%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.37	−0.026%	$14.4M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.34	−0.040%	$7.2M	$9.7M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.42	−0.004%	$15.4M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.38	−0.021%	$20K	$392K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.99	−0.193%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.52	+0.040%	$198K	$465K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.47	+0.018%	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0012%	1h	227.28	−0.064%	$118K	$53K	10x	as long as short
Aster NVDAUSDT	+0.0019%	8h	227.44	+0.004%	$483K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus NVDA-USD	+0.0040%	1h	227.38	−0.022%	$399K	$741K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.38	−0.022%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.52	+0.040%	—	$74K	25x	as long as short
Hotstuff NVDA-PERP	+0.0048%	1h	227.27	−0.070%	$35K	—	20x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.23	−0.088%	$147.7M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.35	−0.035%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.24	−0.084%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.23	−0.088%	$1.6M	$2.0M	15x	as long as short
Variational Omni NVDA	+0.0051%	8h	227.48	+0.020%	$3.6M	$2.2M	—	as long as short
Lighter NVDA	+0.0056%	1h	227.36	−0.030%	$2.1M	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0058%	1h	227.29	−0.062%	$49K	$1.7M	10x	as long as short
Nado NVDA-PERP	+0.0065%	1h	227.27	−0.069%	$483K	$227K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.26	−0.074%	$298K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.29	−0.062%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.34	−0.040%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.35	−0.033%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0105%	8h	227.40	−0.013%	$156.0M	$215.9M	50x	as long as short
KuCoin NVDAUSDTM	+0.0108%	8h	227.41	−0.009%	$1.6M	$727K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.53	+0.044%	$1.3M	$775K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.30	−0.057%	$93K	$112K	20x	as long as short
Lighter RH NVDA	+0.0152%	1h	227.51	+0.035%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.83	+0.176%	$73K	$136	30x	as long as short
BloFin NVDA-USDTlong	+0.0226%	8h	227.43	long leg	$719K	$201K	20x
Extended NVDA_24_5-USD	+0.0232%	1h	227.20	−0.101%	$673K	$779K	10x	as long as short
edgeX NVDAUSDC	+0.0310%	4h	227.48	+0.022%	$171K	$1.9M	20x	as long as short