Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0442%/8h= −48.4% APRpaid last 24h +0.019%

Price spread now: Variational Omni against Arcus+0.121%7-day average +0.077% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.080%−$8 on $10k

Price spread, last 7 days−0.185%−$19 · spread now +0.121%, 7d avg +0.077%

Together, before fees−0.265%+ Points / potential airdropVariational Omni: Active · farm board−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.044% dearer against Arcus than usual: you sell high and buy low (spread +0.121% now, against its 7-day average of +0.077%): +$4 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 8 hours. At the pace of the last 3 days (−0.080% in total) that is about 43 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.080% in total (about -9.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus HOOD-USD	123.57	0.0472	pay 0.0059% / 1h	14m 11s	$1.1M	$1.7M	10x
Short	Variational Omni HOOD	123.72	0.0030	get 0.0030% / 8h	2h 14m	$2.4M	$1.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Arcus. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 ArcusbpFee Variational OmnibpOrdersPrice spread, now +0.121%Rate

Funding earned: −$92.78
Price spread: +0.121% → +0.077%: $4.43
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$92.85
Costs to cover: 0.045%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 5 min ago; Variational Omni: RFQ quote, 5 min ago. Net counts fees only.

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 Arcus live order book, 5 min ago	0.81 bp	7.3 bp −$7	10.3 bp −$103	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	4.08 bp	doesn't fit	23.3 bp −$233	doesn't fit	doesn't fit

HOOD on 30 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 HOODUSDT	0.0000%	8h	123.62	+0.040%	$110K	$262K	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	123.61	+0.032%	$4.0M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	123.65	+0.065%	$3.0M	$5.7M	20x	as long as short
Gate HOOD_USDT	0.0000%	8h	123.59	+0.016%	$555K	$7.9M	50x	as long as short
Phemex HOODUSDT	0.0000%	8h	123.63	+0.049%	$1.0M	$8K	10x	as long as short
Injective HOOD/USDC PERP	+0.0004%	1h	123.73	+0.129%	$63K	$50K	30x	as long as short
Bitget HOODUSDT	+0.0023%	8h	123.62	+0.040%	$5.7M	$9.2M	20x	as long as short
Variational Omni HOODshort	+0.0030%	8h	123.72	+0.121%	$2.4M	$1.0M	—
Vest HOOD-USD-PERP	+0.0046%	1h	123.52	−0.040%	—	$63K	25x	as long as short
Polymarket Perps HOOD-USD	+0.0050%	1h	123.52	−0.040%	$263K	$320K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX HOOD-USD	+0.0050%	1h	123.59	+0.020%	$744	$3K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	123.67	+0.081%	$1.4M	$1.3M	15x	as long as short
Lighter HOOD	+0.0056%	1h	123.57	+0.002%	$3.1M	$1.9M	10x	as long as short
QFEX HOOD-USD	+0.0061%	1h	123.58	+0.008%	$1.3M	$4.1M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	123.58	+0.007%	$80K	$107K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	123.71	+0.113%	$1.3M	$1.1M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	123.59	+0.016%	$45K	$249K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	123.62	+0.040%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	123.60	+0.022%	$16K	—	10x	as long as short
GRVT HOOD_USDT_Perp	+0.0115%	8h	123.74	+0.138%	$871K	$2.2M	10x	as long as short
Extended HOOD_24_5-USD	+0.0152%	1h	123.60	+0.027%	$419K	$1.2M	10x	as long as short
Binance HOODUSDT	+0.0154%	8h	123.62	+0.041%	$23.8M	$84.3M	20x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0192%	1h	123.41	−0.129%	$196K	$1.8M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0235%	1h	123.67	+0.081%	$6K	$84K	10x	as long as short
BloFin HOOD-USDT	+0.0275%	8h	123.66	+0.073%	$187K	$123K	20x	as long as short
tradeXYZ xyz:HOOD	+0.0311%	1h	123.60	+0.024%	$53.1M	$30.0M	10x	as long as short
Phoenix HOOD	+0.0323%	1h	123.80	+0.186%	$28K	$188K	10x	as long as short
RISEx HOOD/USDC	+0.0337%	1h	123.62	+0.042%	$424K	$1.4M	10x	as long as short
Arcus HOOD-USDlong	+0.0472%	1h	123.57	long leg	$1.1M	$1.7M	10x
edgeX HOODUSDC	+0.0927%	4h	123.81	+0.196%	$372K	$308K	10x	as long as short