Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.009%

Price spread now: BloFin against Phoenix+0.018%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$310.315% of the position

Long on Phoenix Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$7 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.018%, 7d avg +0.032%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NVDA	226.58	0.0106	pay 0.0013% / 1h	14m 34s	$93K	$112K	20x
Short	BloFin NVDA-USDT	226.62	0.0206	get 0.0206% / 8h	1h 14m	$710K	$194K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Phoenix. 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 PhoenixbpFee BloFinbpOrdersPrice spread, now +0.018%Rate

Funding earned: $21.08
Price spread: +0.018% → +0.032%: −$1.45
Slippage, 4 orders: −$12.47
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$11.83
Costs to cover: 0.315%
Break-even: 10.9 days

Slippage from Phoenix: live order book, 20 min ago; BloFin: live order book, 7 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 Phoenix live order book, 20 min ago	3.10 bp	9.1 bp −$9	19.3 bp −$193	doesn't fit	doesn't fit
Sell BloFin live order book, 7 min ago	0.66 bp	6.7 bp −$7	7.0 bp −$70	13.2 bp −$1,324	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
Hotstuff NVDA-PERP	−0.0048%	1h	226.45	−0.057%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.58	0.000%	$12.4M	$14.7M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.61	+0.013%	$14.1M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.57	−0.004%	$7.2M	$9.9M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.67	+0.040%	$15.3M	$16.2M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.64	+0.026%	$21K	$420K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.18	−0.177%	$2K	$3.6M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	226.60	+0.009%	$198K	$450K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	226.70	+0.053%	$2.2M	$42K	10x	as long as short
Aster NVDAUSDT	+0.0001%	8h	226.46	−0.054%	$482K	$530K	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	+0.0012%	1h	226.47	−0.047%	$117K	$51K	10x	as long as short
Variational Omni NVDA	+0.0020%	8h	226.63	+0.020%	$3.5M	$2.3M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.58	0.000%	$399K	$732K	20x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.68	+0.044%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.46	−0.053%	$147.1M	$43.4M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.53	−0.022%	$391K	$285K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.46	−0.053%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.50	−0.035%	$1.6M	$1.9M	15x	as long as short
QFEX NVDA-USD	+0.0056%	1h	226.58	0.000%	$1.3M	$9.1M	10x	as long as short
Binance NVDAUSDT	+0.0086%	8h	226.62	+0.018%	$154.5M	$218.4M	50x	as long as short
Lighter NVDA	+0.0088%	1h	226.55	−0.015%	$2.1M	$3.3M	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.41	−0.075%	$297K	$46K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.65	+0.031%	$1.6M	$742K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.51	−0.031%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.56	−0.009%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.59	+0.005%	—	—	10x	as long as short
Phoenix NVDAlong	+0.0106%	1h	226.58	long leg	$93K	$112K	20x
Coinbase International NVDA-PERP-INTX	+0.0112%	1h	226.29	−0.128%	$1.3M	$724K	10x	as long as short
Nado NVDA-PERP	+0.0121%	1h	226.44	−0.062%	$481K	$224K	20x	as long as short
Lighter RH NVDA	+0.0128%	1h	226.69	+0.049%	$5.1M	$7.0M	20x	as long as short
BloFin NVDA-USDTshort	+0.0206%	8h	226.62	+0.018%	$710K	$194K	20x
Injective NVDA/USDC PERP	+0.0220%	1h	226.88	+0.132%	$73K	$139	30x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0236%	1h	226.54	−0.018%	$52K	$1.8M	10x	as long as short
edgeX NVDAUSDC	+0.0329%	4h	226.69	+0.047%	$170K	$1.9M	20x	as long as short
Extended NVDA_24_5-USD	+0.0376%	1h	226.38	−0.088%	$627K	$838K	10x	as long as short