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 −0.002%

Price spread now: Phemex against Bybit+0.133%7-day average +0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$880.882% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)−0.139%−$14 · spread now +0.133%, 7d avg +0.030%

Together, before fees−0.189%−$19 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 0.102% dearer against Bybit than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit NVDAUSDT	226.25	0	get 0.0000% / 8h	10m 31s	$12.4M	$14.4M	100x
Short	Phemex NVDAUSDT	226.55	0	get 0.0000% / 4h	10m 31s	$2.2M	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.133%Rate

Funding earned: $0
Price spread: +0.133% → +0.030%: $10.25
Slippage, 4 orders: −$65.24
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$78
Costs to cover: 0.882%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Phemex: live order book, 3 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, 3 min ago	0.22 bp	6.5 bp −$7	8.0 bp −$80	51.6 bp −$5,160	doesn't fit
Sell Phemex live order book, 3 min ago	0.88 bp	35.5 bp −$36	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 NVDAUSDTlong	0.0000%	8h	226.25	long leg	$12.4M	$14.4M	100x
OKX NVDA-USDT-SWAP	0.0000%	8h	226.29	+0.018%	$14.1M	$20.4M	50x	as long as short
Hotstuff NVDA-PERP	0.0000%	1h	226.09	−0.071%	$35K	—	20x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.22	−0.013%	$7.2M	$10.0M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.36	+0.049%	$15.9M	$16.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.01	−0.106%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.32	+0.031%	$198K	$442K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.55	+0.133%	$2.2M	$42K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	226.21	−0.019%	$117K	$51K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.26	+0.004%	$392K	$738K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0042%	8h	226.47	+0.098%	$22K	$423K	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.32	+0.031%	—	$74K	25x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.10	−0.066%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.08	−0.075%	$1.6M	$1.9M	15x	as long as short
Aster NVDAUSDT	+0.0057%	8h	226.30	+0.023%	$482K	$530K	20x	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.21	−0.018%	$1.3M	$9.1M	10x	as long as short
Polymarket Perps NVDA-USD	+0.0082%	1h	226.24	−0.004%	$391K	$247K	10x	as long as short
Variational Omni NVDA	+0.0083%	8h	226.23	−0.010%	$3.5M	$2.3M	—	as long as short
tradeXYZ xyz:NVDA	+0.0086%	1h	226.10	−0.066%	$146.9M	$43.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.06	−0.084%	$297K	$49K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.27	+0.009%	$1.6M	$820K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.23	−0.009%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.24	−0.004%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	226.26	+0.006%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.071%	$1.3M	$697K	10x	as long as short
Binance NVDAUSDT	+0.0143%	8h	226.30	+0.024%	$155.3M	$219.9M	50x	as long as short
Lighter NVDA	+0.0160%	1h	226.18	−0.030%	$2.1M	$3.3M	20x	as long as short
Nado NVDA-PERP	+0.0171%	1h	226.03	−0.098%	$480K	$223K	20x	as long as short
Phoenix NVDA	+0.0177%	1h	226.29	+0.018%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.78	+0.234%	$73K	$139	30x	as long as short
Lighter RH NVDA	+0.0232%	1h	226.32	+0.031%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0262%	8h	226.33	+0.035%	$711K	$195K	20x	as long as short
Extended NVDA_24_5-USD	+0.0352%	1h	225.99	−0.115%	$644K	$875K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0502%	1h	226.18	−0.031%	$53K	$1.9M	10x	as long as short
edgeX NVDAUSDC	+0.0539%	4h	226.32	+0.029%	$170K	$1.9M	20x	as long as short