Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0176%/8h= −19.3% APRpaid last 24h −0.010%

Price spread now: Phemex against Extended+0.112%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$920.922% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.112%, 7d avg +0.072%

Together, before fees−0.187%+ Points / potential airdropExtended: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.040% dearer against Extended than usual: you sell high and buy low (spread +0.112% now, against its 7-day average of +0.072%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 18 hours. At the pace of the last 7 days (−0.106% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended NVDA_24_5-USD	227.68	0.0176	pay 0.0022% / 1h	15m 46s	$689K	$714K	10x
Short	Phemex NVDAUSDT	227.93	0	get 0.0000% / 4h	2h 15m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.112%Rate

Funding earned: −$36.96
Price spread: +0.112% → +0.072%: $4.01
Slippage, 4 orders: −$75.19
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$125.14
Costs to cover: 0.922%
Break-even: never at this rate

Slippage from Extended: live order book, 52 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 Extended live order book, 52 min ago	0.44 bp	5.7 bp −$6	51.9 bp −$519	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	3.29 bp	44.7 bp −$45	doesn't fit	doesn't fit	doesn't fit

NVDA on 34 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	227.79	+0.053%	$484K	$590K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.80	+0.055%	$12.7M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.83	+0.068%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.76	+0.037%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.84	+0.072%	$15.4M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.29	−0.169%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.96	+0.125%	$198K	$494K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.93	+0.112%	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0012%	1h	227.68	+0.002%	$118K	$54K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0020%	8h	227.82	+0.064%	$20K	$388K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0022%	8h	227.80	+0.056%	$3.5M	$2.0M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.67	−0.002%	$400K	$723K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.83	+0.068%	$1.4M	$9.9M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.95	+0.121%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.68	+0.002%	$148.1M	$44.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.80	+0.055%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.68	+0.002%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.67	−0.002%	$1.6M	$2.0M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.72	+0.020%	$35K	—	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0057%	1h	227.76	+0.037%	$49K	$1.5M	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.094%	$1.3M	$784K	10x	as long as short
Nado NVDA-PERP	+0.0081%	1h	227.72	+0.020%	$484K	$229K	20x	as long as short
Binance NVDAUSDT	+0.0085%	8h	227.84	+0.071%	$156.3M	$215.8M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.68	+0.004%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.69	+0.007%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.80	+0.055%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.80	+0.056%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.66	−0.007%	$94K	$112K	20x	as long as short
Lighter NVDA	+0.0120%	1h	227.83	+0.066%	$2.2M	$3.2M	20x	as long as short
KuCoin NVDAUSDTM	+0.0130%	8h	227.87	+0.086%	$1.6M	$736K	20x	as long as short
Lighter RH NVDA	+0.0136%	1h	227.97	+0.130%	$5.1M	$7.0M	20x	as long as short
Extended NVDA_24_5-USDlong	+0.0176%	1h	227.68	long leg	$689K	$714K	10x
Injective NVDA/USDC PERP	+0.0220%	1h	228.09	+0.182%	$73K	$138	30x	as long as short
edgeX NVDAUSDC	+0.0460%	4h	227.77	+0.041%	$170K	$1.9M	20x	as long as short