Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.035%

Price spread now: Phemex against Nado+0.184%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$990.988% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.043%−$4 on $10k

Price spread, last 4 days (all we have)−0.179%−$18 · spread now +0.184%, 7d avg +0.044%

Together, before fees−0.222%+ Points / potential airdropNado: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.140% dearer against Nado than usual: you sell high and buy low (spread +0.184% now, against its 7-day average of +0.044%): +$14 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 4 days (−0.043% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado NVDA-PERP	226.20	0.0175	pay 0.0022% / 1h	2m 20s	$480K	$223K	20x
Short	Phemex NVDAUSDT	226.62	0	get 0.0000% / 4h	2m 20s	$2.2M	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Nado. 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 NadobpFee PhemexbpOrdersPrice spread, now +0.184%Rate

Funding earned: −$36.81
Price spread: +0.184% → +0.044%: $13.95
Slippage, 4 orders: −$79.76
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$121.61
Costs to cover: 0.988%
Break-even: never at this rate

Slippage from Nado: live order book, 36 min ago; Phemex: live order book, 1 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 Nado live order book, 36 min ago	1.55 bp	9.9 bp −$10	21.5 bp −$215	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	0.88 bp	37.9 bp −$38	doesn't fit	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	226.41	+0.091%	$12.5M	$14.4M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.41	+0.091%	$14.1M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.39	+0.082%	$7.2M	$10.0M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.48	+0.122%	$15.9M	$16.6M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.11	−0.042%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.46	+0.113%	$198K	$439K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.62	+0.184%	$2.2M	$42K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	226.13	−0.034%	$117K	$51K	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	226.28	+0.033%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.34	+0.060%	$392K	$738K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest NVDA-USD-PERP	+0.0046%	1h	226.44	+0.104%	—	$74K	25x	as long as short
GRVT NVDA_USDT_Perp	+0.0047%	8h	226.30	+0.041%	$21K	$421K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.29	+0.038%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.18	−0.011%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0064%	1h	226.33	+0.056%	$1.3M	$9.0M	10x	as long as short
Aster NVDAUSDT	+0.0070%	8h	226.37	+0.073%	$482K	$530K	20x	as long as short
Polymarket Perps NVDA-USD	+0.0077%	1h	226.33	+0.056%	$391K	$247K	10x	as long as short
Variational Omni NVDA	+0.0089%	8h	226.34	+0.062%	$3.5M	$2.3M	—	as long as short
tradeXYZ xyz:NVDA	+0.0096%	1h	226.29	+0.038%	$146.9M	$43.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.25	+0.020%	$297K	$48K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.02	−0.081%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.39	+0.082%	$36K	$21K	20x	as long as short
KuCoin NVDAUSDTM	+0.0109%	8h	226.40	+0.087%	$1.6M	$849K	20x	as long as short
Aevo NVDA-PERP	+0.0120%	1h	226.42	+0.096%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0120%	1h	226.09	−0.051%	$1.3M	$695K	10x	as long as short
edgeX NVDAUSDC	+0.0150%	4h	226.30	+0.042%	$170K	$1.9M	20x	as long as short
Binance NVDAUSDT	+0.0155%	8h	226.40	+0.087%	$155.4M	$219.3M	50x	as long as short
Nado NVDA-PERPlong	+0.0175%	1h	226.20	long leg	$480K	$223K	20x
Lighter NVDA	+0.0176%	1h	226.37	+0.073%	$2.1M	$3.3M	20x	as long as short
Phoenix NVDA	+0.0177%	1h	226.33	+0.056%	$93K	$83K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.54	+0.148%	$73K	$140	30x	as long as short
Lighter RH NVDA	+0.0232%	1h	226.51	+0.135%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDT	+0.0272%	8h	226.44	+0.104%	$712K	$195K	20x	as long as short
Extended NVDA_24_5-USD	+0.0368%	1h	226.20	−0.002%	$646K	$878K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0413%	1h	226.35	+0.064%	$53K	$1.9M	10x	as long as short