Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.018%

Price spread now: tradeXYZ against Phemex−0.225%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$135as in the Price arb table

costs, in and out, $10k−$1211.208% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)+0.195%+$20 · spread now −0.225%, 7d avg −0.082%

Together, before fees+0.342%+ Points / potential airdroptradeXYZ: Active · farm board+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.143% cheaper against Phemex than usual: you would sell low and buy high (spread −0.225% now, against its 7-day average of −0.082%). If the spread goes back, that is −$14 on $10k: about 9.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex NVDAUSDT	226.68	0	get 0.0000% / 4h	1h 38m	$2.2M	$42K	10x
Short	tradeXYZ xyz:NVDA	226.17	0.0050	get 0.0006% / 1h	38m 08s	$146.9M	$43.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.225%Rate

Funding earned: $10.5
Price spread: −0.225% → −0.082%: −$14.26
Slippage, 4 orders: −$90.76
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$124.52
Costs to cover: 1.208%
Break-even: 90.0 days

Slippage from Phemex: live order book, 5 min ago; tradeXYZ: live order book, 12 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	2.20 bp	44.2 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 12 min ago	0.22 bp	9.8 bp −$10	11.3 bp −$113	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	226.32	−0.159%	$12.4M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.32	−0.159%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.23	−0.199%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.33	−0.154%	$15.2M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.37	−0.139%	$21K	$422K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	225.94	−0.326%	$2K	$3.7M	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	0.0000%	1h	226.23	−0.199%	$52K	$1.8M	10x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.37	−0.137%	$198K	$453K	30x	as long as short
Phemex NVDAUSDTlong	0.0000%	4h	226.68	long leg	$2.2M	$42K	10x
Aster NVDAUSDT	+0.0002%	8h	226.38	−0.134%	$482K	$571K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0017%	1h	226.23	−0.200%	$117K	$52K	10x	as long as short
Variational Omni NVDA	+0.0018%	8h	226.30	−0.170%	$3.5M	$2.2M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.27	−0.181%	$398K	$735K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.38	−0.132%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDAshort	+0.0050%	1h	226.17	−0.225%	$146.9M	$43.4M	20x
Polymarket Perps NVDA-USD	+0.0050%	1h	226.19	−0.216%	$395K	$281K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.16	−0.229%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.06	−0.274%	$1.6M	$2.0M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.31	−0.163%	$1.3M	$9.0M	10x	as long as short
Lighter NVDA	+0.0088%	1h	226.27	−0.182%	$2.1M	$3.3M	20x	as long as short
Binance NVDAUSDT	+0.0088%	8h	226.32	−0.159%	$154.3M	$219.2M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	226.19	−0.218%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.32	−0.159%	$1.6M	$749K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.16	−0.229%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.25	−0.190%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.28	−0.176%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.27	−0.181%	$93K	$112K	20x	as long as short
Hotstuff NVDA-PERP	+0.0112%	1h	226.19	−0.216%	$35K	—	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.172%	$1.3M	$789K	10x	as long as short
Lighter RH NVDA	+0.0136%	1h	226.42	−0.115%	$5.0M	$6.9M	20x	as long as short
Nado NVDA-PERP	+0.0143%	1h	226.19	−0.217%	$480K	$226K	20x	as long as short
BloFin NVDA-USDT	+0.0208%	8h	226.44	−0.106%	$716K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.01	+0.146%	$73K	$137	30x	as long as short
Extended NVDA_24_5-USD	+0.0464%	1h	226.13	−0.240%	$667K	$762K	10x	as long as short
edgeX NVDAUSDC	+0.0469%	4h	226.30	−0.169%	$170K	$1.9M	20x	as long as short