Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.025%

Price spread now: Bitget against Phemex−0.004%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$740.742% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.169%+$17 on $10k

Price spread, last 4 days (all we have)+0.057%+$6 · spread now −0.004%, 7d avg −0.002%

Together, before fees+0.226%+$23 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.71	0	get 0.0000% / 4h	1h 06m	$2.2M	$41K	10x
Short	Bitget NVDAUSDT	227.70	0	get 0.0000% / 8h	5h 06m	$15.7M	$15.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.004%Rate

Funding earned: $0
Price spread: −0.004% → −0.002%: −$0.27
Slippage, 4 orders: −$50.24
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$74.51
Costs to cover: 0.742%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; Bitget: live order book, 5 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 Phemex live order book, 5 min ago	1.98 bp	30.9 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.22 bp	7.2 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit

NVDA on 35 exchanges

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	−0.1600%	1h	227.50	−0.092%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.68	−0.013%	$12.7M	$16.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.66	−0.022%	$14.5M	$20.7M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.59	−0.053%	$7.2M	$9.3M	100x	as long as short
Bitget NVDAUSDTshort	0.0000%	8h	227.70	−0.004%	$15.7M	$15.8M	100x
SunX NVDA-USDT	0.0000%	8h	227.29	−0.184%	$2K	$3.3M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.55	−0.070%	$16K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.51	−0.088%	$199K	$399K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.71	long leg	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	227.41	−0.131%	$117K	$52K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter NVDA	+0.0032%	1h	227.62	−0.041%	$2.1M	$3.2M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.49	−0.096%	$611K	$930K	10x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.58	−0.057%	$1.3M	$9.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.85	+0.061%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.54	−0.075%	$149.3M	$45.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.62	−0.040%	$392K	$212K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.57	−0.061%	$59K	$16K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.37	−0.149%	$1.5M	$2.0M	15x	as long as short
Aster NVDAUSDT	+0.0056%	8h	227.62	−0.040%	$484K	$565K	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0079%	8h	227.64	−0.031%	$20K	$418K	10x	as long as short
Nado NVDA-PERP	+0.0086%	1h	227.56	−0.067%	$479K	$208K	20x	as long as short
Lighter RH NVDA	+0.0088%	1h	227.77	+0.026%	$5.3M	$7.2M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.51	−0.089%	$299K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.53	−0.079%	$16K	$45K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.66	−0.022%	$36K	$19K	20x	as long as short
Aevo NVDA-PERP	+0.0128%	1h	227.65	−0.028%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	227.41	−0.132%	$1.3M	$672K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.55	−0.070%	$94K	$82K	20x	as long as short
Variational Omni NVDA	+0.0147%	8h	227.58	−0.057%	$3.3M	$2.4M	—	as long as short
KuCoin NVDAUSDTM	+0.0156%	8h	227.65	−0.026%	$1.6M	$1.5M	20x	as long as short
Binance NVDAUSDT	+0.0192%	8h	227.67	−0.018%	$155.7M	$224.9M	50x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.74	+0.013%	$73K	$140	30x	as long as short
BloFin NVDA-USDT	+0.0314%	8h	227.71	0.000%	$737K	$202K	20x	as long as short
Arcus NVDA-USD	+0.0320%	1h	227.54	−0.075%	$384K	$705K	20x	as long as short
edgeX NVDAUSDC	+0.0818%	4h	227.59	−0.055%	$171K	$1.9M	20x	as long as short