Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.044%

Price spread now: SunX against Lighter−0.118%7-day average −0.122% · you buy dearer than you sell

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$660.656% of the position

Long on Lighter Short on SunX

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)−0.036%−$4 · spread now −0.118%, 7d avg −0.122%

Together, before fees−0.329%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.122%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	226.47	0.0040	pay 0.0005% / 1h	24m 15s	$2.1M	$3.4M	20x
Short	SunX NVDA-USDT	226.20	0	get 0.0000% / 8h	2h 24m	$2K	$3.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.118%Rate

Funding earned: −$8.4
Price spread: −0.118% → −0.122%: $0.38
Slippage, 4 orders: −$57.62
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$73.64
Costs to cover: 0.656%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; SunX: live order book, 4 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 Lighter live order book, 3 min ago	0.40 bp	0.5 bp −$1	1.6 bp −$16	7.6 bp −$758	doesn't fit
Sell SunX live order book, 4 min ago	21.89 bp	25.9 bp −$26	55.4 bp −$554	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
Hotstuff NVDA-PERP	−0.0064%	1h	226.32	−0.065%	$35K	—	20x	as long as short
Aster NVDAUSDT	0.0000%	8h	226.49	+0.009%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.50	+0.014%	$12.5M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.47	+0.001%	$14.2M	$20.4M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.43	−0.017%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.52	+0.023%	$15.2M	$16.4M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.46	−0.005%	$21K	$409K	10x	as long as short
SunX NVDA-USDTshort	0.0000%	8h	226.20	−0.118%	$2K	$3.7M	20x
HTX NVDA-USDT	0.0000%	8h	226.55	+0.036%	$198K	$459K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.56	+0.041%	$2.2M	$43K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0004%	8h	226.34	−0.058%	$3.6M	$2.1M	—	as long as short
Aftermath Perps NVDAUSD	+0.0011%	1h	226.34	−0.057%	$117K	$52K	10x	as long as short
Lighter NVDAlong	+0.0040%	1h	226.47	long leg	$2.1M	$3.4M	20x
Arcus NVDA-USD	+0.0040%	1h	226.32	−0.065%	$397K	$728K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.43	−0.017%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.52	+0.023%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.35	−0.052%	$147.0M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.42	−0.021%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.31	−0.070%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.19	−0.123%	$1.6M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0078%	1h	226.32	−0.064%	$481K	$227K	20x	as long as short
Binance NVDAUSDT	+0.0080%	8h	226.51	+0.018%	$154.5M	$218.3M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.32	−0.065%	$297K	$50K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.46	−0.004%	$1.6M	$739K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.19	−0.123%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.44	−0.012%	$36K	$21K	20x	as long as short
Lighter RH NVDA	+0.0104%	1h	226.62	+0.067%	$5.1M	$7.1M	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.46	−0.001%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.27	−0.087%	$93K	$112K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.29	−0.079%	$1.3M	$789K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0148%	1h	226.39	−0.034%	$52K	$1.8M	10x	as long as short
BloFin NVDA-USDT	+0.0199%	8h	226.43	−0.017%	$716K	$191K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.71	+0.107%	$73K	$138	30x	as long as short
Extended NVDA_24_5-USD	+0.0336%	1h	226.25	−0.096%	$668K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0908%	4h	226.31	−0.070%	$170K	$1.9M	20x	as long as short