Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0005%/8h= −0.6% APRpaid last 24h −0.027%

Price spread now: Variational Omni against Lighter+0.036%7-day average +0.015% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.056%−$6 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.036%, 7d avg +0.015%

Together, before fees−0.100%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.021% dearer against Lighter than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	227.39	0.0056	pay 0.0007% / 1h	45m 32s	$2.1M	$3.3M	20x
Short	Variational Omni NVDA	227.48	0.0051	get 0.0051% / 8h	3h 45m	$3.6M	$2.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.036%Rate

Funding earned: −$1.09
Price spread: +0.036% → +0.015%: $2.13
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $1.03
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 7 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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, 7 min ago	0.40 bp	0.6 bp −$1	1.8 bp −$18	7.7 bp −$769	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.79 bp	doesn't fit	6.2 bp −$62	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
Bybit NVDAUSDT	0.0000%	8h	227.43	+0.016%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.40	+0.003%	$14.4M	$20.4M	50x	as long as short
Hotstuff NVDA-PERP	0.0000%	1h	227.34	−0.023%	$35K	—	20x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.39	−0.001%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.53	+0.060%	$15.4M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.38	−0.005%	$20K	$392K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.09	−0.133%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.60	+0.091%	$198K	$465K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.53	+0.060%	$2.2M	$43K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	227.29	−0.044%	$118K	$53K	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NVDAUSDT	+0.0020%	8h	227.47	+0.036%	$483K	$590K	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.40	+0.003%	$399K	$741K	20x	as long as short
QFEX NVDA-USD	+0.0041%	1h	227.40	+0.003%	$1.3M	$9.2M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.52	+0.056%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.28	−0.050%	$147.7M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.36	−0.015%	$401K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.34	−0.023%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.23	−0.072%	$1.6M	$2.0M	15x	as long as short
Variational Omni NVDAshort	+0.0051%	8h	227.48	+0.036%	$3.6M	$2.2M	—
Lighter NVDAlong	+0.0056%	1h	227.39	long leg	$2.1M	$3.3M	20x
Nado NVDA-PERP	+0.0066%	1h	227.31	−0.035%	$484K	$227K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.31	−0.039%	$298K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.29	−0.045%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.46	+0.029%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.46	+0.030%	—	—	10x	as long as short
Binance NVDAUSDT	+0.0106%	8h	227.40	+0.003%	$156.0M	$215.9M	50x	as long as short
KuCoin NVDAUSDTM	+0.0110%	8h	227.46	+0.029%	$1.6M	$726K	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	227.53	+0.060%	$1.3M	$775K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.30	−0.041%	$93K	$112K	20x	as long as short
Lighter RH NVDA	+0.0152%	1h	227.57	+0.078%	$5.1M	$7.1M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0190%	1h	227.44	+0.021%	$49K	$1.7M	10x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.83	+0.192%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0224%	8h	227.50	+0.047%	$719K	$201K	20x	as long as short
Extended NVDA_24_5-USD	+0.0232%	1h	227.19	−0.089%	$674K	$778K	10x	as long as short
edgeX NVDAUSDC	+0.0310%	4h	227.48	+0.039%	$171K	$1.9M	20x	as long as short