Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.058%

Price spread now: Phemex against Lighter+0.066%7-day average +0.020% · you sell dearer than you buy

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

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.390%−$39 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now +0.066%, 7d avg +0.020%

Together, before fees−0.402%+ Points / potential airdropLighter: Season 3 · farm board−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.046% dearer against Lighter than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of +0.020%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.8 days. At the pace of the last 7 days (−0.390% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HOOD	123.35	0.0032	pay 0.0004% / 1h	46m 22s	$3.0M	$2.0M	10x
Short	Phemex HOODUSDT	123.43	0	get 0.0000% / 8h	1h 46m	$1.0M	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Lighter. 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 LighterbpFee PhemexbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$6.72
Price spread: +0.066% → +0.020%: $4.6
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$14.12
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 6 min ago; Phemex: live order book, 1 min ago. 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 Lighter live order book, 6 min ago	0.04 bp	2.7 bp −$3	6.8 bp −$68	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	4.05 bp	doesn't fit	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
Aster HOODUSDT	0.0000%	8h	123.41	+0.048%	$110K	$262K	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	123.38	+0.025%	$4.0M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	123.43	+0.066%	$3.0M	$5.7M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	123.41	+0.050%	$402K	$1.4M	10x	as long as short
Gate HOOD_USDT	0.0000%	8h	123.40	+0.041%	$553K	$7.8M	50x	as long as short
Bitget HOODUSDT	0.0000%	8h	123.41	+0.049%	$5.7M	$9.1M	20x	as long as short
Phemex HOODUSDTshort	0.0000%	8h	123.43	+0.066%	$1.0M	$8K	10x
Polymarket Perps HOOD-USD	+0.0010%	1h	123.23	−0.096%	$263K	$321K	10x	as long as short
Variational Omni HOOD	+0.0010%	8h	123.51	+0.134%	$2.4M	$1.0M	—	as long as short
edgeX HOODUSDC	+0.0017%	4h	123.52	+0.136%	$372K	$307K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter HOODlong	+0.0032%	1h	123.35	long leg	$3.0M	$2.0M	10x
Vest HOOD-USD-PERP	+0.0046%	1h	123.35	+0.001%	—	$63K	25x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	123.40	+0.039%	$741	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	123.38	+0.025%	$1.4M	$1.3M	15x	as long as short
QFEX HOOD-USD	+0.0057%	1h	123.45	+0.082%	$1.3M	$4.1M	10x	as long as short
GRVT HOOD_USDT_Perp	+0.0079%	8h	123.54	+0.155%	$869K	$2.2M	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0080%	1h	123.27	−0.064%	$196K	$1.8M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	123.40	+0.042%	$80K	$110K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	123.45	+0.082%	$1.3M	$1.1M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	123.35	+0.001%	$23K	$243K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	123.40	+0.041%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	123.42	+0.057%	$16K	—	10x	as long as short
Extended HOOD_24_5-USD	+0.0128%	1h	123.42	+0.057%	$417K	$1.2M	10x	as long as short
Binance HOODUSDT	+0.0128%	8h	123.43	+0.066%	$23.8M	$84.0M	20x	as long as short
Arcus HOOD-USD	+0.0187%	1h	123.45	+0.082%	$1.1M	$1.7M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0210%	1h	123.39	+0.033%	$53.0M	$29.6M	10x	as long as short
BloFin HOOD-USDT	+0.0247%	8h	123.48	+0.106%	$187K	$123K	20x	as long as short
Injective HOOD/USDC PERP	+0.0258%	1h	123.41	+0.049%	$63K	$50K	30x	as long as short
Phoenix HOOD	+0.0388%	1h	123.47	+0.098%	$28K	$188K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.1048%	1h	123.45	+0.082%	$6K	$82K	10x	as long as short