Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.026%

Price spread now: OKX against Lighter−0.014%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$130.132% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 7 days+0.012%+$1 · spread now −0.014%, 7d avg +0.029%

Together, before fees−0.137%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and OKX is 0.042% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	227.80	0.0096	pay 0.0012% / 1h	58m 02s	$2.2M	$3.2M	20x
Short	OKX NVDA-USDT-SWAP	227.77	0	get 0.0000% / 8h	6h 58m	$14.4M	$20.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Lighter. 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 LighterbpFee OKXbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$20.16
Price spread: −0.014% → +0.029%: −$4.22
Slippage, 4 orders: −$3.21
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$37.59
Costs to cover: 0.132%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; OKX: live order book, just now.

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 Lighter live order book, 4 min ago	0.50 bp	0.9 bp −$1	1.8 bp −$18	9.7 bp −$974	doesn't fit
Sell OKX live order book, just now	0.22 bp	6.3 bp −$6	7.8 bp −$78	25.2 bp −$2,518	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 NVDAUSDT	0.0000%	8h	227.81	+0.004%	$12.7M	$15.3M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	227.77	−0.014%	$14.4M	$20.5M	50x
Gate NVDA_USDT	0.0000%	8h	227.75	−0.022%	$7.2M	$9.5M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.31	−0.216%	$2K	$3.8M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.76	−0.018%	$49K	$1.5M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.82	+0.008%	$198K	$505K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.88	+0.035%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0003%	8h	227.80	−0.001%	$484K	$582K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0013%	1h	227.85	+0.020%	$118K	$55K	10x	as long as short
Variational Omni NVDA	+0.0019%	8h	227.86	+0.024%	$3.5M	$1.9M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended NVDA_24_5-USD	+0.0032%	1h	227.66	−0.064%	$681K	$688K	10x	as long as short
Bitget NVDAUSDT	+0.0034%	8h	227.84	+0.017%	$15.4M	$16.8M	100x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.71	−0.040%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	227.83	+0.013%	$1.5M	$10.7M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.95	+0.065%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.66	−0.062%	$148.1M	$46.1M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.78	−0.009%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.68	−0.053%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.70	−0.044%	$1.5M	$2.1M	15x	as long as short
Nado NVDA-PERP	+0.0065%	1h	227.73	−0.033%	$484K	$229K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.150%	$1.3M	$798K	10x	as long as short
Lighter RH NVDA	+0.0080%	1h	227.94	+0.061%	$5.1M	$7.0M	20x	as long as short
Hotstuff NVDA-PERP	+0.0080%	1h	227.69	−0.049%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0088%	8h	227.80	0.000%	$156.4M	$216.9M	50x	as long as short
Lighter NVDAlong	+0.0096%	1h	227.80	long leg	$2.2M	$3.2M	20x
Pacifica NVDA	+0.0100%	1h	227.71	−0.040%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.74	−0.027%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.80	0.000%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.80	+0.001%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	227.75	−0.022%	$94K	$112K	20x	as long as short
KuCoin NVDAUSDTM	+0.0144%	8h	227.86	+0.026%	$1.6M	$735K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0182%	8h	227.92	+0.052%	$20K	$392K	10x	as long as short
BloFin NVDA-USDT	+0.0208%	8h	227.88	+0.035%	$720K	$205K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.20	+0.175%	$73K	$133	30x	as long as short
edgeX NVDAUSDC	+0.0342%	4h	227.88	+0.033%	$170K	$1.9M	20x	as long as short