Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0183%/8h= −20.1% APRpaid last 24h −0.071%

Price spread now: Phoenix against edgeX−0.030%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.700%−$70 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.030%, 7d avg −0.020%

Together, before fees−0.718%+ Points / potential airdropedgeX: Active · farm board−$72 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX NVDAUSDC	226.80	0.0289	pay 0.0145% / 4h	2h 06m	$171K	$1.9M	20x
Short	Phoenix NVDA	226.73	0.0106	get 0.0013% / 1h	6m 52s	$93K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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 edgeXbpFee PhoenixbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$38.49
Price spread: −0.030% → −0.020%: −$1.05
Slippage, 4 orders: −$19.01
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$74.56
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from edgeX: live order book, 2 min ago; Phoenix: live order book, 33 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 edgeX live order book, 2 min ago	3.31 bp	8.3 bp −$8	12.7 bp −$127	doesn't fit	doesn't fit
Sell Phoenix live order book, 33 min ago	3.09 bp	9.3 bp −$9	20.0 bp −$200	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	226.64	−0.069%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.76	−0.017%	$12.5M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.73	−0.030%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.71	−0.039%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.77	−0.013%	$15.3M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.80	0.000%	$21K	$418K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.48	−0.141%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.78	−0.008%	$198K	$457K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.80	0.000%	$2.2M	$42K	10x	as long as short
Variational Omni NVDA	+0.0009%	8h	226.81	+0.003%	$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	+0.0010%	1h	226.54	−0.113%	$117K	$52K	10x	as long as short
Hotstuff NVDA-PERP	+0.0032%	1h	226.57	−0.101%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.66	−0.061%	$398K	$734K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.69	−0.048%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.85	+0.022%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.63	−0.075%	$147.3M	$43.5M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.70	−0.044%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.62	−0.079%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.62	−0.079%	$1.6M	$2.0M	15x	as long as short
Lighter NVDA	+0.0072%	1h	226.77	−0.012%	$2.1M	$3.4M	20x	as long as short
Binance NVDAUSDT	+0.0082%	8h	226.76	−0.017%	$154.6M	$219.0M	50x	as long as short
Nado NVDA-PERP	+0.0083%	1h	226.59	−0.090%	$482K	$226K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.58	−0.097%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.68	−0.052%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.65	−0.066%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.76	−0.017%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.76	−0.018%	—	—	10x	as long as short
Phoenix NVDAshort	+0.0106%	1h	226.73	−0.030%	$93K	$112K	20x
Lighter RH NVDA	+0.0112%	1h	226.90	+0.045%	$5.1M	$7.1M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.29	−0.224%	$1.3M	$789K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0191%	1h	226.72	−0.035%	$53K	$1.8M	10x	as long as short
BloFin NVDA-USDT	+0.0202%	8h	226.82	+0.009%	$711K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.95	+0.067%	$73K	$140	30x	as long as short
edgeX NVDAUSDClong	+0.0289%	4h	226.80	long leg	$171K	$1.9M	20x
Extended NVDA_24_5-USD	+0.0368%	1h	226.58	−0.097%	$668K	$766K	10x	as long as short