Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0202%/8h= +22.1% APRpaid last 24h −0.026%

Price spread now: QFEX against Gate−0.074%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$450.448% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.037%+$4 on $10k

Price spread, last 7 days+0.015%+$1 · spread now −0.074%, 7d avg −0.040%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.035% cheaper against Gate than usual: you would sell low and buy high (spread −0.074% now, against its 7-day average of −0.040%). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$6 a day). At the pace of the last 4 days (+0.037% in total) that is about 3.4 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.037% in total (about 3.7% 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	Gate HOOD_USDT	121.05	−0.0149	get 0.0149% / 8h	2h 50m	$582K	$7.6M	50x
Short	QFEX HOOD-USD	120.96	0.0053	get 0.0007% / 1h	50m 27s	$1.3M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now −0.074%Rate

Funding earned: $42.39
Price spread: −0.074% → −0.040%: −$3.46
Slippage, 4 orders: −$19.78
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$5.85
Costs to cover: 0.448%
Break-even: 8.0 days

Slippage from Gate: live order book, 3 min ago; QFEX: live order book, 3 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 Gate live order book, 3 min ago	3.31 bp	13.5 bp −$14	72.6 bp −$726	doesn't fit	doesn't fit
Sell QFEX live order book, 3 min ago	2.07 bp	7.1 bp −$7	7.5 bp −$75	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	120.64	−0.339%	$57K	$57K	30x	as long as short
Bitget HOODUSDT	−0.0178%	8h	121.07	+0.017%	$5.4M	$9.7M	20x	as long as short
Gate HOOD_USDTlong	−0.0149%	8h	121.05	long leg	$582K	$7.6M	50x
Polymarket Perps HOOD-USD	−0.0062%	1h	120.88	−0.140%	$251K	$344K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	121.03	−0.014%	$106K	$280K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.98	−0.060%	$358K	$1.4M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	121.03	−0.017%	$20.7M	$91.5M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	121.03	−0.017%	$3.8M	$8.9M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	121.06	+0.008%	$2.7M	$6.1M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	121.00	−0.042%	$2.3M	$1.1M	—	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	120.91	−0.116%	$848K	$2.0M	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	121.03	−0.017%	$990K	$9K	10x	as long as short
Vest HOOD-USD-PERP	+0.0013%	1h	120.80	−0.207%	—	$63K	25x	as long as short
Lighter HOOD	+0.0040%	1h	120.97	−0.065%	$2.8M	$3.2M	10x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.93	−0.099%	$1.1M	$1.7M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	120.97	−0.066%	$51.3M	$28.3M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	120.98	−0.055%	$725	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.89	−0.132%	$1.2M	$1.5M	15x	as long as short
QFEX HOOD-USDshort	+0.0053%	1h	120.96	−0.074%	$1.3M	$3.1M	10x
Pacifica HOOD	+0.0100%	1h	120.99	−0.050%	$67K	$107K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.96	−0.074%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.86	−0.157%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	121.03	−0.017%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.97	−0.068%	$16K	—	10x	as long as short
RISEx HOOD/USDC	+0.0109%	1h	121.03	−0.012%	$389K	$1.4M	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	121.02	−0.025%	$175K	$162K	20x	as long as short
edgeX HOODUSDC	+0.0132%	4h	120.86	−0.161%	$364K	$304K	10x	as long as short
Phoenix HOOD	+0.0132%	1h	120.90	−0.124%	$28K	$238K	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0184%	1h	120.77	−0.231%	$193K	$1.8M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0329%	1h	120.99	−0.050%	$6K	$55K	10x	as long as short