Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1600%/8h= −175.2% APRpaid last 24h −0.044%

Price spread now: Hotstuff against Phemex−0.686%680s7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$48 a day on $10k at the current rate, and Hotstuff is 0.686% cheaper against Phemex than usual: you would sell low and buy high (−$69 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 680 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	227.55	0	get 0.0000% / 4h	1h 47m	$2.2M	$41K	10x
Short	Hotstuff NVDA-PERP	225.99	−0.1600	pay 0.0200% / 1h	47m 51s	$35K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.686%Rate

Funding earned: −$336
Price spread: −0.686% → 0.000%: −$68.56
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$421.56
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; Hotstuff: no order-book sample. 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 Phemex live order book, 4 min ago	1.10 bp	30.2 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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-PERPshort	−0.1600%	1h	225.99	−0.686%	$35K	—	20x
Bybit NVDAUSDT	0.0000%	8h	227.49	−0.026%	$12.7M	$16.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.53	−0.009%	$14.4M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.46	−0.040%	$7.2M	$9.2M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.56	+0.004%	$15.7M	$16.1M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.13	−0.185%	$2K	$3.4M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.41	−0.062%	$16K	$1.9M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.51	−0.018%	$199K	$400K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	227.55	long leg	$2.2M	$41K	10x
Aftermath Perps NVDAUSD	+0.0014%	1h	227.41	−0.061%	$118K	$52K	10x	as long as short

Show all 35 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0019%	8h	227.47	−0.036%	$20K	$432K	10x	as long as short
Lighter NVDA	+0.0032%	1h	227.44	−0.047%	$2.1M	$3.1M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.38	−0.076%	$613K	$939K	10x	as long as short
Aster NVDAUSDT	+0.0038%	8h	227.55	0.000%	$484K	$565K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.47	−0.035%	$1.3M	$9.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.73	+0.079%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.36	−0.083%	$149.0M	$45.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.48	−0.031%	$392K	$237K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.45	−0.044%	$59K	$16K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.36	−0.083%	$1.5M	$2.0M	15x	as long as short
Nado NVDA-PERP	+0.0094%	1h	227.48	−0.033%	$478K	$210K	20x	as long as short
Lighter RH NVDA	+0.0096%	1h	227.59	+0.018%	$5.1M	$7.1M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	227.41	−0.062%	$298K	$50K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.36	−0.083%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.51	−0.018%	$36K	$19K	20x	as long as short
Variational Omni NVDA	+0.0116%	8h	227.53	−0.010%	$3.3M	$2.4M	—	as long as short
Aevo NVDA-PERP	+0.0120%	1h	227.53	−0.007%	—	—	10x	as long as short
KuCoin NVDAUSDTM	+0.0132%	8h	227.52	−0.013%	$1.6M	$1.3M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0136%	1h	226.45	−0.483%	$1.3M	$657K	10x	as long as short
Phoenix NVDA	+0.0141%	1h	227.50	−0.022%	$94K	$82K	20x	as long as short
Binance NVDAUSDT	+0.0171%	8h	227.50	−0.022%	$156.1M	$225.1M	50x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.74	+0.083%	$73K	$136	30x	as long as short
BloFin NVDA-USDT	+0.0288%	8h	227.59	+0.018%	$729K	$204K	20x	as long as short
Arcus NVDA-USD	+0.0320%	1h	227.48	−0.031%	$384K	$704K	20x	as long as short
edgeX NVDAUSDC	+0.0913%	4h	227.49	−0.027%	$171K	$1.9M	20x	as long as short