Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0260%/8h= +28.5% APRpaid last 24h +0.016%

Price spread now: Pacifica against Bitget−0.108%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.402% of the position

Long on Bitget Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.108%, 7d avg −0.061%

Together, before fees+0.259%+ Points / potential airdropPacifica: Active · farm board+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.047% cheaper against Bitget than usual: you would sell low and buy high (spread −0.108% now, against its 7-day average of −0.061%). If the spread goes back, that is −$5 on $10k: about 15 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.153% in total) that is about 2.2 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.153% in total (about 8.0% 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	Bitget HOODUSDT	120.60	−0.0160	get 0.0160% / 8h	7h 59m	$5.5M	$9.8M	20x
Short	Pacifica HOOD	120.47	0.0100	get 0.0013% / 1h	59m 36s	$74K	$111K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Bitget. 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 BitgetbpFee PacificabpOrdersPrice spread, now −0.108%Rate

Funding earned: $54.6
Price spread: −0.108% → −0.061%: −$4.75
Slippage, 4 orders: −$20.2
Fee Bitget: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $9.65
Costs to cover: 0.402%
Break-even: 5.8 days

Slippage from Bitget: live order book, 4 min ago; Pacifica: live order book, 38 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 Bitget live order book, 4 min ago	0.83 bp	11.2 bp −$11	24.8 bp −$248	doesn't fit	doesn't fit
Sell Pacifica live order book, 38 min ago	1.95 bp	9.7 bp −$10	doesn't fit	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
Injective HOOD/USDC PERP	−0.0440%	1h	120.22	−0.315%	$57K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0160%	8h	120.54	−0.050%	$598K	$6.9M	50x	as long as short
Bitget HOODUSDTlong	−0.0160%	8h	120.60	long leg	$5.5M	$9.8M	20x
Polymarket Perps HOOD-USD	−0.0025%	1h	120.22	−0.315%	$251K	$345K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	120.66	+0.053%	$105K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.59	−0.008%	$357K	$2.2M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	120.63	+0.022%	$20.8M	$91.9M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.75	+0.124%	$3.7M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	120.49	−0.091%	$2.7M	$6.2M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	120.38	−0.179%	$2.2M	$999K	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT HOOD_USDT_Perp	0.0000%	8h	120.48	−0.100%	$848K	$2.0M	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	120.47	−0.108%	$986K	$8K	10x	as long as short
Vest HOOD-USD-PERP	+0.0014%	1h	120.23	−0.307%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.55	−0.041%	$1.1M	$1.7M	10x	as long as short
QFEX HOOD-USD	+0.0046%	1h	120.65	+0.041%	$1.3M	$2.9M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	120.38	−0.182%	$51.0M	$27.0M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	120.43	−0.139%	$720	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.52	−0.066%	$1.3M	$1.4M	15x	as long as short
Lighter HOOD	+0.0064%	1h	120.59	−0.009%	$2.8M	$3.0M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0082%	1h	120.47	−0.108%	$6K	$52K	10x	as long as short
Pacifica HOODshort	+0.0100%	1h	120.47	−0.108%	$74K	$111K	10x
KuCoin HOODUSDTM	+0.0100%	8h	120.47	−0.108%	$1.3M	$1.4M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.40	−0.166%	$5K	$40K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.43	−0.141%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.44	−0.131%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.43	−0.141%	$172K	$175K	20x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0192%	1h	120.33	−0.224%	$196K	$1.8M	10x	as long as short
Phoenix HOOD	+0.0265%	1h	120.38	−0.182%	$28K	$238K	10x	as long as short
edgeX HOODUSDC	+0.0276%	4h	120.49	−0.091%	$363K	$305K	10x	as long as short
RISEx HOOD/USDC	+0.0421%	1h	120.64	+0.037%	$418K	$1.4M	10x	as long as short