Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against SunX+0.128%7-day average +0.146% · you sell dearer than you buy

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1291.294% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.128%, 7d avg +0.146%

Together, before fees−0.023%−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX NVDA-USDT	226.48	0	get 0.0000% / 8h	2h 03m	$2K	$3.7M	20x
Short	Phemex NVDAUSDT	226.77	0	get 0.0000% / 4h	2h 03m	$2.2M	$42K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SunX. 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 SunXbpFee PhemexbpOrdersPrice spread, now +0.128%Rate

Funding earned: $0
Price spread: +0.128% → +0.146%: −$1.78
Slippage, 4 orders: −$109.41
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$131.19
Costs to cover: 1.294%
Break-even: never at this rate

Slippage from SunX: live order book, 4 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 SunX live order book, 4 min ago	22.07 bp	38.2 bp −$38	67.5 bp −$675	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.32 bp	31.7 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	226.60	+0.052%	$482K	$571K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	226.63	+0.066%	$12.5M	$15.0M	100x	as long as short
OKX NVDA-USDT-SWAP	0.0000%	8h	226.67	+0.084%	$14.2M	$20.5M	50x	as long as short
Gate NVDA_USDT	0.0000%	8h	226.60	+0.053%	$7.2M	$9.8M	100x	as long as short
Bitget NVDAUSDT	0.0000%	8h	226.67	+0.084%	$15.3M	$16.3M	100x	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	226.82	+0.150%	$21K	$417K	10x	as long as short
SunX NVDA-USDTlong	0.0000%	8h	226.48	long leg	$2K	$3.7M	20x
HTX NVDA-USDT	0.0000%	8h	226.71	+0.102%	$198K	$456K	30x	as long as short
Phemex NVDAUSDTshort	0.0000%	4h	226.77	+0.128%	$2.2M	$42K	10x
Variational Omni NVDA	+0.0009%	8h	226.76	+0.122%	$3.6M	$2.1M	—	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0010%	1h	226.56	+0.035%	$117K	$52K	10x	as long as short
Hotstuff NVDA-PERP	+0.0032%	1h	226.58	+0.044%	$35K	—	20x	as long as short
Arcus NVDA-USD	+0.0040%	1h	226.66	+0.079%	$398K	$734K	20x	as long as short
QFEX NVDA-USD	+0.0042%	1h	226.62	+0.062%	$1.3M	$9.1M	10x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	226.81	+0.146%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	226.51	+0.013%	$147.2M	$43.6M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	226.61	+0.057%	$398K	$278K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	226.52	+0.018%	$59K	$19K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	226.56	+0.035%	$1.6M	$2.0M	15x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0059%	1h	226.59	+0.049%	$53K	$1.8M	10x	as long as short
Lighter NVDA	+0.0072%	1h	226.60	+0.053%	$2.1M	$3.4M	20x	as long as short
Binance NVDAUSDT	+0.0081%	8h	226.67	+0.086%	$154.5M	$219.1M	50x	as long as short
Nado NVDA-PERP	+0.0085%	1h	226.56	+0.037%	$482K	$226K	20x	as long as short
Pacifica NVDA	+0.0100%	1h	226.53	+0.024%	$297K	$48K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	226.70	+0.097%	$1.6M	$744K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	226.63	+0.066%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	226.61	+0.057%	$36K	$21K	20x	as long as short
Aevo NVDA-PERP	+0.0104%	1h	226.65	+0.073%	—	—	10x	as long as short
Phoenix NVDA	+0.0106%	1h	226.65	+0.075%	$93K	$112K	20x	as long as short
Lighter RH NVDA	+0.0112%	1h	226.75	+0.119%	$5.1M	$7.1M	20x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0128%	1h	226.29	−0.084%	$1.3M	$789K	10x	as long as short
BloFin NVDA-USDT	+0.0202%	8h	226.73	+0.110%	$710K	$194K	20x	as long as short
Injective NVDA/USDC PERP	+0.0220%	1h	226.95	+0.208%	$73K	$140	30x	as long as short
Extended NVDA_24_5-USD	+0.0376%	1h	226.53	+0.022%	$668K	$766K	10x	as long as short
edgeX NVDAUSDC	+0.0738%	4h	226.73	+0.109%	$170K	$1.9M	20x	as long as short