Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Pacifica against Phemex−0.057%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$71as in the Price arb table

costs, in and out, $10k−$740.737% of the position

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.180%+$18 on $10k

Price spread, last 4 days (all we have)+0.062%+$6 · spread now −0.057%, 7d avg −0.079%

Together, before fees+0.242%+ Points / potential airdropPacifica: Active · farm board+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Pacifica is 0.022% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.079%.

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 49m	$2.2M	$41K	10x
Short	Pacifica NVDA	227.42	0.0100	get 0.0013% / 1h	49m 08s	$298K	$50K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.057%Rate

Funding earned: $21
Price spread: −0.057% → −0.079%: $2.22
Slippage, 4 orders: −$53.69
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$50.47
Costs to cover: 0.737%
Break-even: 23.8 days

Slippage from Phemex: live order book, 2 min ago; Pacifica: live order book, 62 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, 2 min ago	1.10 bp	30.2 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 62 min ago	1.99 bp	6.4 bp −$6	doesn't fit	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	225.99	−0.686%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.59	+0.018%	$12.7M	$16.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.61	+0.026%	$14.4M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.54	−0.004%	$7.2M	$9.1M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.65	+0.044%	$15.7M	$16.1M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.15	−0.176%	$3K	$3.4M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	227.45	−0.044%	$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	227.38	−0.076%	$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	227.56	+0.006%	$2.1M	$3.1M	20x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.40	−0.066%	$613K	$939K	10x	as long as short
Aster NVDAUSDT	+0.0036%	8h	227.55	0.000%	$484K	$565K	20x	as long as short
QFEX NVDA-USD	+0.0044%	1h	227.56	+0.004%	$1.3M	$9.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.76	+0.092%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.50	−0.022%	$149.0M	$45.9M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.53	−0.009%	$392K	$237K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.46	−0.040%	$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	227.46	−0.041%	$478K	$210K	20x	as long as short
Lighter RH NVDA	+0.0096%	1h	227.73	+0.079%	$5.1M	$7.1M	20x	as long as short
Pacifica NVDAshort	+0.0100%	1h	227.42	−0.057%	$298K	$50K	10x
ApeX Omni NVDAUSDT	+0.0100%	1h	227.36	−0.083%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.56	+0.004%	$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	227.56	+0.007%	—	—	10x	as long as short
KuCoin NVDAUSDTM	+0.0132%	8h	227.50	−0.022%	$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	+0.0168%	8h	227.62	+0.031%	$156.1M	$225.0M	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	227.55	0.000%	$384K	$704K	20x	as long as short
edgeX NVDAUSDC	+0.0913%	4h	227.49	−0.027%	$171K	$1.9M	20x	as long as short