HOOD

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0356%/8h= +39.0% APRnext payment +$0.45 per $10,000 · paid last 24h +0.006%

Price spread now: Phoenix against Lighter+0.395%104s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as 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−$250.252% of the position

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 3 days (all we have)−0.435%−$44 · spread now +0.395%, 7d avg 0.000%

Together, before fees−0.554%+ Points / potential airdropLighter: Season 3 · farm board−$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.395% dearer against Lighter than usual: you sell high and buy low: +$40 more if the spread goes back to its 7-day average of 0.000%. Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour. The two prices were read 104 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 -0.119% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.45 per $10,000. 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	Lighter HOOD	122.31	0.0032	pay 0.0004% / 1h	7m 38s	$2.9M	$2.2M	10x
Short	Phoenix HOOD	122.79	0.0388	get 0.0049% / 1h	7m 38s	$28K	$188K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.395%Rate

Funding earned: $74.85
Price spread: +0.395% → 0.000%: $39.54
Slippage, 4 orders: −$18.18
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $89.21
Costs to cover: 0.252%
Break-even: from the start

Slippage from Lighter: live order book, 5 min ago; Phoenix: 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 Lighter live order book, 5 min ago	1.10 bp	2.7 bp −$3	18.2 bp −$182	doesn't fit	doesn't fit
Sell Phoenix live order book, 4 min ago	2.45 bp	10.1 bp −$10	21.4 bp −$214	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
Polymarket Perps HOOD-USD	−0.0135%	1h	122.20	−0.087%	$268K	$332K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	122.42	+0.096%	$108K	$263K	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	122.33	+0.019%	$3.9M	$8.8M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	122.39	+0.068%	$2.9M	$5.8M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	122.35	+0.035%	$393K	$1.4M	10x	as long as short
Gate HOOD_USDT	0.0000%	8h	122.36	+0.043%	$568K	$7.9M	50x	as long as short
Bitget HOODUSDT	0.0000%	8h	122.38	+0.060%	$5.6M	$9.6M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	122.39	+0.067%	$2.3M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	122.44	+0.106%	$857K	$2.0M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	0.0000%	1h	122.30	−0.006%	$8K	$81K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HOODUSDT	0.0000%	8h	122.38	+0.060%	$1.0M	$8K	10x	as long as short
Lighter HOODlong	+0.0032%	1h	122.31	long leg	$2.9M	$2.2M	10x
Vest HOOD-USD-PERP	+0.0046%	1h	122.27	−0.030%	—	$63K	25x	as long as short
Binance HOODUSDT	+0.0047%	8h	122.35	+0.035%	$22.2M	$87.9M	20x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	122.37	+0.053%	$734	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	122.36	+0.043%	$1.2M	$1.6M	15x	as long as short
Extended HOOD_24_5-USD	+0.0056%	1h	122.30	−0.002%	$411K	$1.2M	10x	as long as short
QFEX HOOD-USD	+0.0057%	1h	122.34	+0.027%	$1.3M	$4.1M	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0080%	1h	122.43	+0.101%	$198K	$1.9M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	122.31	+0.001%	$70K	$114K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	122.36	+0.043%	$1.3M	$1.1M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	122.44	+0.109%	$5K	$135K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	122.33	+0.019%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	122.31	+0.006%	$16K	—	10x	as long as short
tradeXYZ xyz:HOOD	+0.0109%	1h	122.34	+0.027%	$52.5M	$29.8M	10x	as long as short
BloFin HOOD-USDT	+0.0180%	8h	122.44	+0.109%	$183K	$123K	20x	as long as short
Arcus HOOD-USD	+0.0187%	1h	122.25	−0.047%	$1.1M	$1.7M	10x	as long as short
Injective HOOD/USDC PERP	+0.0258%	1h	123.07	+0.624%	$63K	$50K	30x	as long as short
Phoenix HOODshort	+0.0388%	1h	122.79	+0.395%	$28K	$188K	10x
edgeX HOODUSDC	+0.0985%	4h	122.43	+0.097%	$368K	$306K	10x	as long as short