Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.014%

Price spread now: Phemex against QFEX+0.026%7-day average +0.032% · 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−$83as in the Price arb table

costs, in and out, $10k−$830.826% of the position

Long on QFEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)−0.184%−$18 · spread now +0.026%, 7d avg +0.032%

Together, before fees−0.205%−$20 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: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX NVDA-USD	227.65	0.0044	pay 0.0005% / 1h	3m 07s	$1.4M	$9.5M	10x
Short	Phemex NVDAUSDT	227.71	0	get 0.0000% / 4h	1h 03m	$2.2M	$43K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against QFEX. 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 QFEXbpFee PhemexbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$9.22
Price spread: +0.026% → +0.032%: −$0.52
Slippage, 4 orders: −$60.64
Fee QFEX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$92.38
Costs to cover: 0.826%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; Phemex: live order book, 5 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 QFEX live order book, 6 min ago	2.42 bp	7.4 bp −$7	8.4 bp −$84	13.8 bp −$1,375	doesn't fit
Sell Phemex live order book, 5 min ago	1.76 bp	31.5 bp −$31	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
Hotstuff NVDA-PERP	−0.0056%	1h	227.51	−0.061%	$35K	—	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.71	+0.026%	$12.7M	$14.8M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	227.71	+0.026%	$14.4M	$20.3M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	227.65	0.000%	$7.2M	$9.6M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	227.73	+0.035%	$15.5M	$16.4M	100x	as long as short
SunX NVDA-USDT	0.0000%	8h	227.31	−0.149%	$2K	$3.7M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.76	+0.048%	$198K	$474K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	227.71	+0.026%	$2.2M	$43K	10x
Aftermath Perps NVDAUSD	+0.0015%	1h	227.54	−0.047%	$118K	$54K	10x	as long as short
Aster NVDAUSDT	+0.0026%	8h	227.70	+0.023%	$484K	$590K	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT NVDA_USDT_Perp	+0.0028%	8h	227.69	+0.018%	$21K	$386K	10x	as long as short
Arcus NVDA-USD	+0.0040%	1h	227.59	−0.026%	$406K	$744K	20x	as long as short
QFEX NVDA-USDlong	+0.0044%	1h	227.65	long leg	$1.4M	$9.5M	10x
Vest NVDA-USD-PERP	+0.0046%	1h	227.73	+0.035%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.55	−0.044%	$147.9M	$43.7M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.63	−0.009%	$402K	$276K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.54	−0.048%	$58K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.51	−0.061%	$1.6M	$2.0M	15x	as long as short
Variational Omni NVDA	+0.0052%	8h	227.61	−0.017%	$3.5M	$2.1M	—	as long as short
Coinbase International NVDA-PERP-INTX	+0.0072%	1h	227.53	−0.053%	$1.3M	$775K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.55	−0.044%	$299K	$51K	10x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.52	−0.057%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.67	+0.009%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0105%	1h	227.49	−0.070%	$94K	$112K	20x	as long as short
Binance NVDAUSDT	+0.0110%	8h	227.75	+0.044%	$156.3M	$215.8M	50x	as long as short
Aevo NVDA-PERP	+0.0112%	1h	227.68	+0.014%	—	—	10x	as long as short
Nado NVDA-PERP	+0.0130%	1h	227.50	−0.067%	$483K	$228K	20x	as long as short
KuCoin NVDAUSDTM	+0.0144%	8h	227.72	+0.031%	$1.6M	$728K	20x	as long as short
Lighter NVDA	+0.0168%	1h	227.67	+0.009%	$2.1M	$3.3M	20x	as long as short
Lighter RH NVDA	+0.0216%	1h	227.81	+0.070%	$5.1M	$7.1M	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	227.98	+0.145%	$73K	$139	30x	as long as short
BloFin NVDA-USDT	+0.0230%	8h	227.76	+0.048%	$723K	$201K	20x	as long as short
Extended NVDA_24_5-USD	+0.0424%	1h	227.47	−0.081%	$686K	$733K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0585%	1h	227.67	+0.009%	$49K	$1.6M	10x	as long as short
edgeX NVDAUSDC	+0.0817%	4h	227.61	−0.017%	$170K	$1.9M	20x	as long as short