Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.043%

Price spread now: Lighter against Bybit−0.027%7-day average −0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$140.144% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.241%+$24 on $10k

Price spread, last 7 days+0.011%+$1 · spread now −0.027%, 7d avg −0.021%

Together, before fees+0.252%+ Points / potential airdropLighter: Season 3 · farm board+$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.021%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	226.50	0	get 0.0000% / 8h	1h 53m	$12.4M	$15.0M	100x
Short	Lighter NVDA	226.44	0.0104	get 0.0013% / 1h	53m 30s	$2.1M	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.027%Rate

Funding earned: $21.84
Price spread: −0.027% → −0.021%: −$0.66
Slippage, 4 orders: −$3.41
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $6.77
Costs to cover: 0.144%
Break-even: 4.8 days

Slippage from Bybit: live order book, 5 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 Bybit live order book, 5 min ago	0.22 bp	6.1 bp −$6	8.7 bp −$87	77.4 bp −$7,742	doesn't fit
Sell Lighter live order book, 4 min ago	0.31 bp	0.3 bp $0	1.3 bp −$13	12.7 bp −$1,274	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	226.51	+0.005%	$482K	$571K	20x	as long as short
Bybit NVDAUSDTlong	0.0000%	8h	226.50	long leg	$12.4M	$15.0M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.49	−0.004%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.46	−0.018%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.53	+0.013%	$15.2M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.48	−0.008%	$21K	$417K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.18	−0.141%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.72	+0.097%	$198K	$455K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.59	+0.040%	$2.2M	$42K	10x	as long as short
Variational Omni NVDA	+0.0012%	8h	226.43	−0.033%	$3.6M	$2.1M	—	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	+0.0012%	1h	226.35	−0.067%	$117K	$52K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.45	−0.022%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.53	+0.013%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.35	−0.066%	$147.0M	$43.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.44	−0.026%	$398K	$279K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.28	−0.097%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.48	−0.009%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.47	−0.013%	$1.3M	$9.1M	10x	as long as short
Hotstuff NVDA-PERP	+0.0064%	1h	226.31	−0.084%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0084%	8h	226.50	0.000%	$154.4M	$219.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.31	−0.084%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.53	+0.013%	$1.6M	$747K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.34	−0.071%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.41	−0.040%	$36K	$21K	20x	as long as short
Lighter NVDAshort	+0.0104%	1h	226.44	−0.027%	$2.1M	$3.3M	20x
Aevo NVDA-PERP	+0.0104%	1h	226.43	−0.031%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.58	+0.035%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.093%	$1.3M	$789K	10x	as long as short
Nado NVDA-PERP	+0.0146%	1h	226.29	−0.092%	$481K	$226K	20x	as long as short
Lighter RH NVDA	+0.0168%	1h	226.59	+0.040%	$5.0M	$6.9M	20x	as long as short
BloFin NVDA-USDT	+0.0204%	8h	226.45	−0.022%	$714K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.74	+0.106%	$73K	$136	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0280%	1h	226.38	−0.053%	$53K	$1.8M	10x	as long as short
Extended NVDA_24_5-USD	+0.0400%	1h	226.29	−0.091%	$667K	$767K	10x	as long as short
edgeX NVDAUSDC	+0.0707%	4h	226.43	−0.032%	$170K	$1.9M	20x	as long as short