Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0551%/8h= −60.3% APRpaid last 24h −0.121%

Price spread now: Bitget against edgeX+0.072%94s7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as 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−$450.451% of the position

Long on edgeX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 4 days (all we have)−0.123%−$12 · spread now +0.072%, 7d avg +0.029%

Together, before fees−0.453%+ Points / potential airdropedgeX: Active · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.042% dearer against edgeX than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of +0.029%): +$4 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.330% in total) that is about 21 hours. The two prices were read 94 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.330% in total (about -17.2% 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	edgeX HOODUSDC	120.96	0.0299	pay 0.0150% / 4h	2h 13m	$364K	$305K	10x
Short	Bitget HOODUSDT	121.05	−0.0252	pay 0.0252% / 8h	2h 13m	$5.4M	$9.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against edgeX. 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 edgeXbpFee BitgetbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$115.74
Price spread: +0.072% → +0.029%: $4.21
Slippage, 4 orders: −$24.13
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$156.66
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from edgeX: live order book, 34 min ago; Bitget: live order book, 4 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 edgeX live order book, 34 min ago	5.78 bp	10.9 bp −$11	19.9 bp −$199	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	1.24 bp	11.1 bp −$11	27.3 bp −$273	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	120.56	−0.334%	$57K	$57K	30x	as long as short
Bitget HOODUSDTshort	−0.0252%	8h	121.05	+0.072%	$5.4M	$9.9M	20x
Gate HOOD_USDT	−0.0174%	8h	121.06	+0.080%	$604K	$7.7M	50x	as long as short
Polymarket Perps HOOD-USD	−0.0012%	1h	120.82	−0.119%	$251K	$344K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	120.90	−0.052%	$106K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	121.00	+0.029%	$358K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	121.03	+0.055%	$20.7M	$91.8M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	121.01	+0.038%	$3.7M	$8.9M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	121.03	+0.055%	$2.7M	$6.1M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	121.00	+0.030%	$2.3M	$1.0M	—	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	120.92	−0.034%	$856K	$2.0M	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	121.05	+0.072%	$990K	$9K	10x	as long as short
Vest HOOD-USD-PERP	+0.0010%	1h	120.79	−0.143%	—	$63K	25x	as long as short
Lighter HOOD	+0.0032%	1h	120.97	+0.002%	$2.8M	$3.2M	10x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.85	−0.094%	$1.1M	$1.7M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	120.92	−0.036%	$51.3M	$28.1M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	121.02	+0.046%	$723	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.96	−0.003%	$1.2M	$1.4M	15x	as long as short
QFEX HOOD-USD	+0.0053%	1h	121.00	+0.030%	$1.3M	$3.0M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	121.00	+0.027%	$67K	$105K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.90	−0.052%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.88	−0.069%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	121.00	+0.030%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.96	+0.001%	$16K	—	10x	as long as short
RISEx HOOD/USDC	+0.0109%	1h	121.03	+0.056%	$399K	$1.4M	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.97	+0.005%	$174K	$158K	20x	as long as short
Phoenix HOOD	+0.0132%	1h	120.90	−0.052%	$28K	$238K	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0184%	1h	120.34	−0.515%	$192K	$1.8M	10x	as long as short
edgeX HOODUSDClong	+0.0299%	4h	120.96	long leg	$364K	$305K	10x
Deribit HOOD_USDC-PERPETUAL	+0.0908%	1h	121.00	+0.030%	$6K	$55K	10x	as long as short