Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.004%

Price spread now: Ondo Perps against Binance−0.054%46s7-day average −0.124% · you buy dearer than you sell

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

Long on Binance Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 2 days (all we have)−0.105%−$10 · spread now −0.054%, 7d avg −0.124%

Together, before fees−0.181%+ Points / potential airdropOndo Perps: Active · farm board−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.071% dearer against Binance than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.124%. Mind the row above: over the last 7 days funding on this pair cost −0.076%, so the current rate has only just turned in your favour. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance HOODUSDT	121.61	0	get 0.0000% / 8h	5h 52m	$21.1M	$90.2M	20x
Short	Ondo Perps HOOD-USD.P	121.54	0.0050	get 0.0006% / 1h	52m 49s	$1.2M	$1.5M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Binance. 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 BinancebpFee Ondo PerpsbpOrdersPrice spread, now −0.054%Rate

Funding earned: $10.58
Price spread: −0.054% → −0.124%: $7.07
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $2.65
Costs to cover: 0.150%
Break-even: 5.2 days

Slippage unknown: Binance: live order book, 5 min ago; Ondo Perps: no order-book sample. 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 Binance live order book, 5 min ago	0.41 bp	7.7 bp −$8	14.7 bp −$147	51.7 bp −$5,169	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

HOOD on 29 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	−0.0191%	1h	121.37	−0.193%	$252K	$344K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	121.65	+0.036%	$106K	$279K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	121.63	+0.023%	$358K	$1.3M	10x	as long as short
Binance HOODUSDTlong	0.0000%	8h	121.61	long leg	$21.1M	$90.2M	20x
Bybit HOODUSDT	0.0000%	8h	121.65	+0.037%	$3.9M	$8.8M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	121.62	+0.012%	$2.7M	$6.0M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	121.59	−0.012%	$376K	$1.4M	10x	as long as short
Gate HOOD_USDT	0.0000%	8h	121.68	+0.062%	$579K	$7.7M	50x	as long as short
Bitget HOODUSDT	0.0000%	8h	121.69	+0.070%	$5.4M	$9.5M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	121.69	+0.074%	$2.3M	$1.1M	—	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT HOOD_USDT_Perp	0.0000%	8h	121.61	+0.001%	$850K	$2.0M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	0.0000%	1h	121.59	−0.012%	$7K	$68K	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	121.63	+0.020%	$995K	$8K	10x	as long as short
QFEX HOOD-USD	+0.0024%	1h	121.56	−0.037%	$1.3M	$3.8M	10x	as long as short
Vest HOOD-USD-PERP	+0.0025%	1h	121.45	−0.128%	—	$62K	25x	as long as short
edgeX HOODUSDC	+0.0025%	4h	121.64	+0.027%	$366K	$304K	10x	as long as short
Lighter HOOD	+0.0040%	1h	121.64	+0.025%	$2.8M	$3.1M	10x	as long as short
Arcus HOOD-USD	+0.0040%	1h	121.59	−0.012%	$1.1M	$1.7M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	121.59	−0.012%	$52.0M	$28.1M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	121.58	−0.022%	$732	$4K	10x	as long as short
Ondo Perps HOOD-USD.Pshort	+0.0050%	1h	121.54	−0.054%	$1.2M	$1.5M	15x
Coinbase International HOOD-PERP-INTX	+0.0056%	1h	121.54	−0.054%	$194K	$1.9M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	121.59	−0.013%	$68K	$109K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	121.68	+0.062%	$1.3M	$1.2M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	121.59	−0.012%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	121.61	+0.004%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	121.57	−0.026%	$16K	—	10x	as long as short
Phoenix HOOD	+0.0197%	1h	121.59	−0.012%	$28K	$239K	10x	as long as short
Injective HOOD/USDC PERP	+0.0345%	1h	121.40	−0.169%	$58K	$57K	30x	as long as short