Funding you earn now, next payment 02:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.044%
Price spread now: SunX against Phoenix−0.211%69s7-day average −0.096% · 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—prices read too far apart to compare
costs, in and out, $10k−$810.812% of the position
Funding, last 7 days−0.247%−$25 on $10k
+Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.211%, 7d avg −0.096%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and SunX is 0.115% cheaper against Phoenix than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.096%). Swap the legs. The two prices were read 69 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 | 227.50 | 0.0105 | pay 0.0013% / 1h | 25m 58s | $94K | $112K | 20x |
| Short | SunX NVDA-USDT | 227.02 | 0 | get 0.0000% / 8h | 5h 25m | $2K | $3.7M | 20x |
Phoenix NVDA
SunX NVDA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$22.15
- Price spread: −0.211% → −0.096%
- −$11.51
- Slippage, 4 orders
- −$66.23
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$114.89
- Costs to cover
- 0.812%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 29 min ago; SunX: 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 Phoenix live order book, 29 min ago | 2.63 bp | 8.6 bp −$9 | 18.2 bp −$182 | doesn't fit | doesn't fit |
| Sell SunX live order book, 12 min ago | 21.97 bp | 26.0 bp −$26 | 55.7 bp −$557 | 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 | 227.54 | +0.018% | $12.7M | $14.8M | 100x | as long as short |
| OKX NVDA-USDT-SWAP | 0.0000% | 8h | 227.53 | +0.013% | $14.4M | $20.2M | 50x | as long as short |
| Gate NVDA_USDT | 0.0000% | 8h | 227.49 | −0.004% | $7.2M | $9.6M | 100x | as long as short |
| Bitget NVDAUSDT | 0.0000% | 8h | 227.62 | +0.053% | $15.5M | $16.4M | 100x | as long as short |
| GRVT NVDA_USDT_Perp | 0.0000% | 8h | 227.63 | +0.055% | $20K | $384K | 10x | as long as short |
| SunX NVDA-USDTshort | 0.0000% | 8h | 227.02 | −0.211% | $2K | $3.7M | 20x | |
| HTX NVDA-USDT | 0.0000% | 8h | 227.76 | +0.114% | $198K | $478K | 30x | as long as short |
| Phemex NVDAUSDT | 0.0000% | 4h | 227.64 | +0.062% | $2.2M | $43K | 10x | as long as short |
| Aster NVDAUSDT | +0.0012% | 8h | 227.58 | +0.034% | $483K | $590K | 20x | as long as short |
| Aftermath Perps NVDAUSD | +0.0013% | 1h | 227.52 | +0.007% | $118K | $54K | 10x | as long as short |
Bybit NVDAUSDT
OKX NVDA-USDT-SWAP
Gate NVDA_USDT
Bitget NVDAUSDT
GRVT NVDA_USDT_Perp
HTX NVDA-USDT
Phemex NVDAUSDT
Aster NVDAUSDT
Aftermath Perps NVDAUSDShow all 35 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff NVDA-PERP | +0.0016% | 1h | 227.40 | −0.044% | $35K | — | 20x | as long as short |
| Variational Omni NVDA | +0.0040% | 8h | 227.53 | +0.012% | $3.5M | $2.1M | — | as long as short |
| Arcus NVDA-USD | +0.0040% | 1h | 227.59 | +0.040% | $406K | $745K | 20x | as long as short |
| QFEX NVDA-USD | +0.0044% | 1h | 227.56 | +0.026% | $1.4M | $9.6M | 10x | as long as short |
| Vest NVDA-USD-PERP | +0.0046% | 1h | 227.62 | +0.053% | — | $74K | 25x | as long as short |
| tradeXYZ xyz:NVDA | +0.0050% | 1h | 227.39 | −0.048% | $147.9M | $44.2M | 20x | as long as short |
| Polymarket Perps NVDA-USD | +0.0050% | 1h | 227.52 | +0.009% | $401K | $277K | 10x | as long as short |
| SoDEX NVDA-USD | +0.0050% | 1h | 227.39 | −0.048% | $58K | $19K | 10x | as long as short |
| Ondo Perps NVDA-USD.P | +0.0050% | 1h | 227.43 | −0.031% | $1.6M | $2.0M | 15x | as long as short |
| Coinbase International NVDA-PERP-INTX | +0.0072% | 1h | 227.53 | +0.013% | $1.3M | $777K | 10x | as long as short |
| Binance NVDAUSDT | +0.0098% | 8h | 227.57 | +0.031% | $156.2M | $215.2M | 50x | as long as short |
| Pacifica NVDA | +0.0100% | 1h | 227.40 | −0.046% | $298K | $60K | 10x | as long as short |
| ApeX Omni NVDAUSDT | +0.0100% | 1h | 227.50 | 0.000% | $16K | $44K | 50x | as long as short |
| Orderly PERP_NVDA_USDC | +0.0100% | 8h | 227.53 | +0.013% | $36K | $22K | 20x | as long as short |
| Aevo NVDA-PERP | +0.0104% | 1h | 227.55 | +0.022% | — | — | 10x | as long as short |
| Phoenix NVDAlong | +0.0105% | 1h | 227.50 | long leg | $94K | $112K | 20x | |
| Nado NVDA-PERP | +0.0126% | 1h | 227.39 | −0.048% | $483K | $228K | 20x | as long as short |
| KuCoin NVDAUSDTM | +0.0136% | 8h | 227.60 | +0.044% | $1.6M | $724K | 20x | as long as short |
| Lighter NVDA | +0.0168% | 1h | 227.54 | +0.017% | $2.2M | $3.2M | 20x | as long as short |
| Lighter RH NVDA | +0.0216% | 1h | 227.68 | +0.079% | $5.1M | $7.1M | 20x | as long as short |
| BloFin NVDA-USDT | +0.0217% | 8h | 227.62 | +0.053% | $723K | $201K | 20x | as long as short |
| Injective NVDA/USDC PERP | +0.0220% | 1h | 227.99 | +0.215% | $73K | $137 | 30x | as long as short |
| Deribit NVDA_USDC-PERPETUAL | +0.0278% | 1h | 227.49 | −0.004% | $49K | $1.6M | 10x | as long as short |
| Extended NVDA_24_5-USD | +0.0360% | 1h | 227.35 | −0.066% | $689K | $722K | 10x | as long as short |
| edgeX NVDAUSDC | +0.0749% | 4h | 227.62 | +0.053% | $170K | $1.9M | 20x | as long as short |
Hotstuff NVDA-PERP
Variational Omni NVDA
Arcus NVDA-USD
QFEX NVDA-USD
Vest NVDA-USD-PERP
tradeXYZ xyz:NVDA
Polymarket Perps NVDA-USD
SoDEX NVDA-USD
Ondo Perps NVDA-USD.P
Coinbase International NVDA-PERP-INTX
Binance NVDAUSDT
Pacifica NVDA
ApeX Omni NVDAUSDT
Orderly PERP_NVDA_USDC
Aevo NVDA-PERP
Nado NVDA-PERP
KuCoin NVDAUSDTM
Lighter NVDA
Lighter RH NVDA
BloFin NVDA-USDT
Injective NVDA/USDC PERP
Deribit NVDA_USDC-PERPETUAL
Extended NVDA_24_5-USD
edgeX NVDAUSDC