NVDA

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h −0.030%

Price spread now: QFEX against Phoenix+0.053%52s7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$320.319% of the position

Long on Phoenix Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.021%−$2 on $10k

Price spread, last 3 days (all we have)−0.041%−$4 · spread now +0.053%, 7d avg +0.015%

Together, before fees−0.061%−$6 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.038% dearer against Phoenix than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of +0.015%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 47 hours. At the pace of the last 3 days (−0.021% in total) that is about 6.3 days. The two prices were read 52 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	Phoenix NVDA	227.75	0.0106	pay 0.0013% / 1h	0m 33s	$94K	$112K	20x
Short	QFEX NVDA-USD	227.87	0.0042	get 0.0005% / 1h	0m 33s	$1.5M	$10.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$13.41
Price spread: +0.053% → +0.015%: $3.77
Slippage, 4 orders: −$14.94
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$41.58
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Phoenix: live order book, 64 min ago; QFEX: live order book, 8 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, 64 min ago	3.08 bp	9.4 bp −$9	20.8 bp −$208	doesn't fit	doesn't fit
Sell QFEX live order book, 8 min ago	1.54 bp	6.5 bp −$7	6.5 bp −$65	11.6 bp −$1,156	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	227.90	+0.066%	$12.7M	$15.2M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.88	+0.057%	$14.4M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.82	+0.031%	$7.2M	$9.7M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.42	−0.145%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.90	+0.066%	$198K	$505K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.94	+0.083%	$2.2M	$43K	10x	as long as short
Aster NVDAUSDT	+0.0002%	8h	227.78	+0.012%	$484K	$582K	20x	as long as short
Aftermath Perps NVDAUSD	+0.0012%	1h	227.85	+0.042%	$118K	$55K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0013%	1h	227.80	+0.022%	$49K	$1.5M	10x	as long as short
Hotstuff NVDA-PERP	+0.0016%	1h	227.76	+0.004%	$35K	—	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni NVDA	+0.0019%	8h	227.86	+0.046%	$3.5M	$1.9M	—	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.74	−0.004%	$636K	$597K	10x	as long as short
Bitget NVDAUSDT	+0.0038%	8h	227.92	+0.075%	$15.4M	$16.8M	100x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.73	−0.009%	$400K	$724K	20x	as long as short
QFEX NVDA-USDshort	+0.0042%	1h	227.87	+0.053%	$1.5M	$10.8M	10x
Vest NVDA-USD-PERP	+0.0046%	1h	227.99	+0.105%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.78	+0.013%	$148.1M	$46.0M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.86	+0.048%	$402K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.74	−0.004%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.73	−0.009%	$1.5M	$2.1M	15x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0080%	1h	227.46	−0.127%	$1.3M	$798K	10x	as long as short
Nado NVDA-PERP	+0.0085%	1h	227.81	+0.026%	$484K	$229K	20x	as long as short
Binance NVDAUSDT	+0.0087%	8h	227.90	+0.066%	$156.5M	$217.0M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.76	+0.003%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.74	−0.004%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.86	+0.048%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.86	+0.047%	—	—	10x	as long as short
Phoenix NVDAlong	+0.0106%	1h	227.75	long leg	$94K	$112K	20x
KuCoin NVDAUSDTM	+0.0145%	8h	227.92	+0.075%	$1.6M	$734K	20x	as long as short
Lighter NVDA	+0.0152%	1h	227.93	+0.079%	$2.2M	$3.3M	20x	as long as short
Lighter RH NVDA	+0.0152%	1h	228.08	+0.145%	$5.1M	$7.2M	20x	as long as short
GRVT NVDA_USDT_Perp	+0.0190%	8h	227.92	+0.072%	$21K	$391K	10x	as long as short
BloFin NVDA-USDT	+0.0207%	8h	227.90	+0.066%	$720K	$205K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	228.20	+0.198%	$73K	$140	30x	as long as short
edgeX NVDAUSDC	+0.0342%	4h	227.88	+0.056%	$170K	$1.9M	20x	as long as short