Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against Polymarket Perps+0.048%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$810.812% of the position

Long on Polymarket Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 3 days (all we have)−0.024%−$2 · spread now +0.048%, 7d avg +0.063%

Together, before fees−0.133%−$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.063%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps NVDA-USD	227.66	0.0050	pay 0.0006% / 1h	39m 51s	$402K	$282K	10x
Short	Phemex NVDAUSDT	227.77	0	get 0.0000% / 4h	2h 39m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Polymarket Perps. 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 Polymarket PerpsbpFee PhemexbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$10.5
Price spread: +0.048% → +0.063%: −$1.42
Slippage, 4 orders: −$61.21
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$93.14
Costs to cover: 0.812%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 28 min ago; Phemex: live order book, 4 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 Polymarket Perps live order book, 28 min ago	2.19 bp	6.6 bp −$7	7.7 bp −$77	8.8 bp −$880	doesn't fit
Sell Phemex live order book, 4 min ago	2.41 bp	32.3 bp −$32	doesn't fit	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
Aster NVDAUSDT	0.0000%	8h	227.73	+0.029%	$484K	$581K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.63	−0.013%	$12.7M	$15.1M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.67	+0.004%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.62	−0.018%	$7.2M	$9.5M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.71	+0.022%	$15.4M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.20	−0.202%	$2K	$3.8M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.79	+0.057%	$198K	$501K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.77	+0.048%	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0013%	1h	227.58	−0.034%	$118K	$54K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0014%	1h	227.64	−0.009%	$49K	$1.5M	10x	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	+0.0017%	8h	227.69	+0.013%	$3.5M	$1.9M	—	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.56	−0.046%	$693K	$709K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.55	−0.048%	$400K	$724K	20x	as long as short
QFEX NVDA-USD	+0.0045%	1h	227.69	+0.013%	$1.5M	$10.2M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.80	+0.061%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.55	−0.048%	$148.0M	$45.9M	20x	as long as short
Polymarket Perps NVDA-USDlong	+0.0050%	1h	227.66	long leg	$402K	$282K	10x
SoDEX NVDA-USD	+0.0050%	1h	227.54	−0.053%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.54	−0.053%	$1.5M	$2.1M	15x	as long as short
GRVT NVDA_USDT_Perp	+0.0066%	8h	227.73	+0.030%	$20K	$388K	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.46	−0.088%	$1.3M	$788K	10x	as long as short
Nado NVDA-PERP	+0.0079%	1h	227.59	−0.032%	$484K	$230K	20x	as long as short
Hotstuff NVDA-PERP	+0.0080%	1h	227.55	−0.048%	$35K	—	20x	as long as short
Binance NVDAUSDT	+0.0083%	8h	227.69	+0.013%	$156.3M	$216.4M	50x	as long as short
Pacifica NVDA	+0.0100%	1h	227.58	−0.037%	$299K	$60K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.58	−0.035%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.67	+0.004%	$36K	$22K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	227.68	+0.010%	—	—	10x	as long as short
Phoenix NVDA	+0.0105%	1h	227.61	−0.022%	$94K	$112K	20x	as long as short
Lighter NVDA	+0.0128%	1h	227.69	+0.015%	$2.2M	$3.2M	20x	as long as short
Lighter RH NVDA	+0.0128%	1h	227.82	+0.070%	$5.1M	$7.0M	20x	as long as short
KuCoin NVDAUSDTM	+0.0136%	8h	227.73	+0.031%	$1.6M	$737K	20x	as long as short
BloFin NVDA-USDT	+0.0203%	8h	227.78	+0.053%	$723K	$204K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.96	+0.132%	$73K	$135	30x	as long as short
edgeX NVDAUSDC	+0.0806%	4h	227.71	+0.023%	$170K	$1.9M	20x	as long as short