Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.059%

Price spread now: Polymarket Perps against BloFin−0.257%45s7-day average −0.156% · you buy dearer than you sell

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$340.339% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.559%−$56 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.257%, 7d avg −0.156%

Together, before fees−0.461%−$46 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Polymarket Perps is 0.100% cheaper against BloFin than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.156%). Swap the legs. The two prices were read 45 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	BloFin HOOD-USDT	120.84	0.0120	pay 0.0120% / 8h	1h 46m	$175K	$160K	20x
Short	Polymarket Perps HOOD-USD	120.53	0.0050	get 0.0006% / 1h	46m 22s	$250K	$344K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.257%Rate

Funding earned: −$14.7
Price spread: −0.257% → −0.156%: −$10.02
Slippage, 4 orders: −$13.85
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$58.57
Costs to cover: 0.339%
Break-even: never at this rate

Slippage from BloFin: live order book, 29 min ago; Polymarket Perps: live order book, 61 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 BloFin live order book, 29 min ago	0.83 bp	10.3 bp −$10	14.9 bp −$149	36.4 bp −$3,641	doesn't fit
Sell Polymarket Perps live order book, 61 min ago	2.07 bp	7.6 bp −$8	8.1 bp −$81	9.8 bp −$976	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	−0.0392%	1h	120.80	−0.033%	$58K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0173%	8h	120.74	−0.083%	$599K	$7.7M	50x	as long as short
Bitget HOODUSDT	−0.0096%	8h	120.77	−0.058%	$5.4M	$9.9M	20x	as long as short
Aster HOODUSDT	0.0000%	8h	120.76	−0.067%	$105K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.67	−0.139%	$357K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	120.70	−0.120%	$20.8M	$92.3M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.69	−0.124%	$3.7M	$8.9M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	120.68	−0.132%	$2.7M	$6.1M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	120.90	+0.050%	$2.3M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	120.89	+0.042%	$846K	$2.0M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit HOOD_USDC-PERPETUAL	0.0000%	1h	120.65	−0.157%	$6K	$52K	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	120.78	−0.050%	$988K	$9K	10x	as long as short
Vest HOOD-USD-PERP	+0.0015%	1h	120.53	−0.257%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.73	−0.091%	$1.1M	$1.8M	10x	as long as short
Polymarket Perps HOOD-USDshort	+0.0050%	1h	120.53	−0.257%	$250K	$344K	10x
SoDEX HOOD-USD	+0.0050%	1h	120.73	−0.088%	$721	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.83	−0.008%	$1.2M	$1.4M	15x	as long as short
QFEX HOOD-USD	+0.0062%	1h	120.70	−0.116%	$1.3M	$3.0M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	120.69	−0.123%	$67K	$105K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.80	−0.033%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.73	−0.091%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.69	−0.124%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.68	−0.130%	$16K	—	10x	as long as short
Lighter HOOD	+0.0120%	1h	120.71	−0.107%	$2.8M	$3.2M	10x	as long as short
BloFin HOOD-USDTlong	+0.0120%	8h	120.84	long leg	$175K	$160K	20x
tradeXYZ xyz:HOOD	+0.0155%	1h	120.66	−0.149%	$51.3M	$27.9M	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0184%	1h	120.60	−0.199%	$196K	$1.8M	10x	as long as short
Phoenix HOOD	+0.0198%	1h	120.86	+0.017%	$28K	$238K	10x	as long as short
edgeX HOODUSDC	+0.0209%	4h	120.89	+0.037%	$364K	$304K	10x	as long as short
RISEx HOOD/USDC	+0.0365%	1h	120.76	−0.066%	$373K	$1.4M	10x	as long as short