Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.044%

Price spread now: Phoenix against Gate−0.026%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.293%+$29 on $10k

Price spread, last 4 days (all we have)+0.099%+$10 · spread now −0.026%, 7d avg −0.006%

Together, before fees+0.392%+$39 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.020% cheaper against Gate than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of −0.006%). If the spread goes back, that is −$2 on $10k: about 15 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate NVDA_USDT	227.70	0	get 0.0000% / 8h	5h 54m	$7.2M	$9.6M	100x
Short	Phoenix NVDA	227.64	0.0105	get 0.0013% / 1h	54m 54s	$94K	$112K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now −0.026%Rate

Funding earned: $22.12
Price spread: −0.026% → −0.006%: −$2.02
Slippage, 4 orders: −$20.04
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$21.93
Costs to cover: 0.420%
Break-even: 13.9 days

Slippage from Gate: live order book, 4 min ago; Phoenix: live order book, 65 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 Gate live order book, 4 min ago	0.44 bp	11.5 bp −$11	17.5 bp −$175	doesn't fit	doesn't fit
Sell Phoenix live order book, 65 min ago	2.63 bp	8.6 bp −$9	18.0 bp −$180	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
Bybit NVDAUSDT	0.0000%	8h	227.76	+0.026%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.75	+0.022%	$14.4M	$20.2M	50x	as long as short
Gate NVDA_USDTlong	0.0000%	8h	227.70	long leg	$7.2M	$9.6M	100x
Bitget NVDAUSDT	0.0000%	8h	227.80	+0.044%	$15.4M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.76	+0.026%	$20K	$386K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.30	−0.176%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.84	+0.061%	$198K	$481K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.81	+0.048%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0001%	8h	227.77	+0.032%	$484K	$590K	20x	as long as short
Hotstuff NVDA-PERP	+0.0008%	1h	227.60	−0.044%	$35K	—	20x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0014%	1h	227.55	−0.065%	$118K	$54K	10x	as long as short
Variational Omni NVDA	+0.0024%	8h	227.76	+0.025%	$3.5M	$2.0M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.74	+0.018%	$406K	$712K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.74	+0.018%	$1.4M	$9.7M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.81	+0.048%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.58	−0.053%	$148.1M	$44.3M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.68	−0.009%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.60	−0.044%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.59	−0.048%	$1.6M	$2.0M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.105%	$1.3M	$776K	10x	as long as short
Binance NVDAUSDT	+0.0086%	8h	227.78	+0.035%	$156.3M	$215.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.60	−0.044%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.57	−0.057%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.72	+0.009%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.68	−0.007%	—	—	10x	as long as short
Phoenix NVDAshort	+0.0105%	1h	227.64	−0.026%	$94K	$112K	20x
KuCoin NVDAUSDTM	+0.0129%	8h	227.79	+0.040%	$1.6M	$726K	20x	as long as short
Nado NVDA-PERP	+0.0159%	1h	227.58	−0.053%	$484K	$229K	20x	as long as short
Extended NVDA_24_5-USD	+0.0200%	1h	227.50	−0.090%	$689K	$714K	10x	as long as short
Lighter NVDA	+0.0208%	1h	227.72	+0.007%	$2.2M	$3.2M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.91	+0.092%	$73K	$134	30x	as long as short
Lighter RH NVDA	+0.0248%	1h	227.84	+0.061%	$5.1M	$7.0M	20x	as long as short
edgeX NVDAUSDC	+0.0275%	4h	227.76	+0.028%	$170K	$1.9M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0409%	1h	227.68	−0.009%	$49K	$1.6M	10x	as long as short