Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0354%/8h= +38.8% APRpaid last 24h +0.055%

Price spread now: edgeX against Phoenix+0.047%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs+$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.656%+$66 on $10k

Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.047%, 7d avg +0.018%

Together, before fees+0.565%+ Points / potential airdropedgeX: Active · farm board+$56 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and edgeX is 0.029% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix NVDA	227.66	0.0105	pay 0.0013% / 1h	17m 04s	$94K	$112K	20x
Short	edgeX NVDAUSDC	227.77	0.0460	get 0.0230% / 4h	2h 17m	$170K	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.047%Rate

Funding earned: $74.43
Price spread: +0.047% → +0.018%: $2.92
Slippage, 4 orders: −$17.77
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $43.59
Costs to cover: 0.338%
Break-even: 2.9 days

Slippage from Phoenix: live order book, 43 min ago; edgeX: live order book, 2 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, 43 min ago	2.63 bp	8.6 bp −$9	17.9 bp −$179	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	3.51 bp	8.3 bp −$8	13.3 bp −$133	doesn't fit	doesn't fit

NVDA on 34 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
Aster NVDAUSDT	0.0000%	8h	227.79	+0.056%	$484K	$590K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.86	+0.088%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.88	+0.097%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.78	+0.053%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.86	+0.088%	$15.4M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.35	−0.136%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.96	+0.132%	$198K	$494K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.95	+0.127%	$2.2M	$43K	10x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	227.67	+0.006%	$118K	$54K	10x	as long as short
GRVT NVDA_USDT_Perp	+0.0020%	8h	227.82	+0.070%	$20K	$388K	10x	as long as short

Show all 34 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0022%	8h	227.79	+0.058%	$3.5M	$2.0M	—	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.68	+0.009%	$400K	$723K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.85	+0.083%	$1.4M	$10.0M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.98	+0.141%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.72	+0.026%	$148.1M	$44.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.82	+0.070%	$402K	$277K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.72	+0.026%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.67	+0.004%	$1.6M	$2.0M	15x	as long as short
Hotstuff NVDA-PERP	+0.0056%	1h	227.74	+0.035%	$35K	—	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.088%	$1.3M	$786K	10x	as long as short
Nado NVDA-PERP	+0.0081%	1h	227.77	+0.048%	$484K	$229K	20x	as long as short
Binance NVDAUSDT	+0.0084%	8h	227.84	+0.079%	$156.3M	$215.8M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.73	+0.031%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.69	+0.013%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.83	+0.075%	$36K	$22K	20x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0101%	1h	227.78	+0.053%	$49K	$1.5M	10x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.86	+0.088%	—	—	10x	as long as short
Phoenix NVDAlong	+0.0105%	1h	227.66	long leg	$94K	$112K	20x
Lighter NVDA	+0.0120%	1h	227.87	+0.091%	$2.2M	$3.2M	20x	as long as short
KuCoin NVDAUSDTM	+0.0131%	8h	227.90	+0.105%	$1.6M	$736K	20x	as long as short
Lighter RH NVDA	+0.0144%	1h	228.00	+0.149%	$5.1M	$7.0M	20x	as long as short
Extended NVDA_24_5-USD	+0.0168%	1h	227.69	+0.011%	$689K	$714K	10x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.09	+0.189%	$73K	$138	30x	as long as short
edgeX NVDAUSDCshort	+0.0460%	4h	227.77	+0.047%	$170K	$1.9M	20x