Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.058%

Price spread now: Lighter against Aster−0.067%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$118as in the Price arb table

costs, in and out, $10k−$1121.118% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.390%+$39 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.067%, 7d avg −0.006%

Together, before fees+0.437%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.060% cheaper against Aster than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.006%). If the spread goes back, that is −$6 on $10k: about 6.3 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.390% in total) that is about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster HOODUSDT	123.29	0	get 0.0000% / 8h	1h 19m	$109K	$262K	20x
Short	Lighter HOOD	123.20	0.0032	get 0.0004% / 1h	19m 45s	$2.9M	$2.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.067%Rate

Funding earned: $6.72
Price spread: −0.067% → −0.006%: −$6.04
Slippage, 4 orders: −$103.84
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$111.16
Costs to cover: 1.118%
Break-even: 122.8 days

Slippage from Aster: live order book, 62 min ago; Lighter: live order book, 2 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 Aster live order book, 62 min ago	4.44 bp	55.7 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	1.10 bp	1.4 bp −$1	4.0 bp −$40	215.3 bp −$21.5K	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
Polymarket Perps HOOD-USD	−0.0086%	1h	123.07	−0.175%	$263K	$322K	10x	as long as short
Aster HOODUSDTlong	0.0000%	8h	123.29	long leg	$109K	$262K	20x
Bybit HOODUSDT	0.0000%	8h	123.26	−0.021%	$3.9M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	123.29	+0.003%	$3.0M	$5.7M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	123.25	−0.029%	$401K	$1.4M	10x	as long as short
Gate HOOD_USDT	0.0000%	8h	123.27	−0.013%	$557K	$7.8M	50x	as long as short
Bitget HOODUSDT	0.0000%	8h	123.28	−0.005%	$5.7M	$9.1M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	123.33	+0.039%	$2.4M	$1.0M	—	as long as short
Phemex HOODUSDT	0.0000%	8h	123.26	−0.021%	$1.0M	$8K	10x	as long as short
GRVT HOOD_USDT_Perp	+0.0020%	8h	123.26	−0.021%	$867K	$2.1M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter HOODshort	+0.0032%	1h	123.20	−0.067%	$2.9M	$2.1M	10x
Vest HOOD-USD-PERP	+0.0046%	1h	123.14	−0.118%	—	$63K	25x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	123.24	−0.037%	$740	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	123.19	−0.078%	$1.4M	$1.3M	15x	as long as short
QFEX HOOD-USD	+0.0057%	1h	123.25	−0.029%	$1.3M	$4.1M	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0080%	1h	123.01	−0.224%	$190K	$1.8M	10x	as long as short
Binance HOODUSDT	+0.0088%	8h	123.27	−0.009%	$23.7M	$84.0M	20x	as long as short
Extended HOOD_24_5-USD	+0.0088%	1h	123.25	−0.027%	$417K	$1.2M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	123.25	−0.026%	$80K	$103K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	123.31	+0.019%	$1.3M	$1.1M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	123.25	−0.029%	$5K	$132K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	123.26	−0.021%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	123.26	−0.023%	$16K	—	10x	as long as short
tradeXYZ xyz:HOOD	+0.0148%	1h	123.23	−0.045%	$53.0M	$29.5M	10x	as long as short
Arcus HOOD-USD	+0.0187%	1h	123.18	−0.086%	$1.1M	$1.7M	10x	as long as short
BloFin HOOD-USDT	+0.0211%	8h	123.28	−0.005%	$187K	$123K	20x	as long as short
Injective HOOD/USDC PERP	+0.0258%	1h	123.34	+0.044%	$63K	$50K	30x	as long as short
Phoenix HOOD	+0.0388%	1h	123.18	−0.086%	$28K	$188K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0481%	1h	123.28	−0.005%	$6K	$80K	10x	as long as short
edgeX HOODUSDC	+0.0485%	4h	123.22	−0.051%	$371K	$306K	10x	as long as short