Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0184%/8h= +20.1% APRpaid last 24h +0.046%

Price spread now: Coinbase International against OKX+0.091%7-day average −0.155% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.045%+$4 on $10k

Price spread, last 4 days (all we have)−0.112%−$11 · spread now +0.091%, 7d avg −0.155%

Together, before fees−0.067%−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.246% dearer against OKX than usual: you sell high and buy low: +$25 more if the spread goes back to its 7-day average of −0.155%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.045% in total (about 2.3% 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	OKX HOOD-USDT-SWAP	120.82	0	get 0.0000% / 8h	1h 48m	$2.7M	$6.1M	20x
Short	Coinbase International HOOD-PERP-INTX	120.93	0.0184	get 0.0023% / 1h	48m 50s	$197K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.091%Rate

Funding earned: $38.64
Price spread: +0.091% → −0.155%: $24.62
Slippage, 4 orders: −$25.36
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $17.91
Costs to cover: 0.454%
Break-even: 3.8 days

Slippage from OKX: live order book, 4 min ago; Coinbase International: live order book, 5 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 OKX live order book, 4 min ago	2.89 bp	10.5 bp −$11	30.7 bp −$307	doesn't fit	doesn't fit
Sell Coinbase International live order book, 5 min ago	2.89 bp	8.3 bp −$8	15.4 bp −$154	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	−0.0392%	1h	120.80	−0.017%	$58K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0171%	8h	120.88	+0.050%	$600K	$7.7M	50x	as long as short
Bitget HOODUSDT	−0.0086%	8h	120.91	+0.074%	$5.4M	$10.0M	20x	as long as short
Aster HOODUSDT	0.0000%	8h	120.86	+0.036%	$106K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.80	−0.016%	$357K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	120.85	+0.021%	$20.8M	$92.3M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.84	+0.017%	$3.7M	$8.9M	25x	as long as short
OKX HOOD-USDT-SWAPlong	0.0000%	8h	120.82	long leg	$2.7M	$6.1M	20x
Variational Omni HOOD	0.0000%	8h	120.90	+0.066%	$2.3M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	120.89	+0.059%	$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
Phemex HOODUSDT	0.0000%	8h	120.84	+0.017%	$989K	$9K	10x	as long as short
Vest HOOD-USD-PERP	+0.0014%	1h	120.67	−0.124%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.82	0.000%	$1.1M	$1.8M	10x	as long as short
Polymarket Perps HOOD-USD	+0.0050%	1h	120.69	−0.108%	$250K	$344K	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	120.80	−0.017%	$721	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.81	−0.008%	$1.2M	$1.4M	15x	as long as short
QFEX HOOD-USD	+0.0062%	1h	120.86	+0.033%	$1.3M	$3.0M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	120.86	+0.035%	$67K	$105K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.88	+0.050%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.85	+0.025%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.88	+0.050%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.82	+0.001%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.89	+0.058%	$175K	$158K	20x	as long as short
Lighter HOOD	+0.0152%	1h	120.82	0.000%	$2.8M	$3.2M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0184%	1h	120.77	−0.041%	$51.3M	$27.9M	10x	as long as short
Coinbase International HOOD-PERP-INTXshort	+0.0184%	1h	120.93	+0.091%	$197K	$1.8M	10x
Phoenix HOOD	+0.0198%	1h	120.86	+0.033%	$28K	$238K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0247%	1h	120.79	−0.025%	$6K	$52K	10x	as long as short
RISEx HOOD/USDC	+0.0365%	1h	120.95	+0.108%	$374K	$1.4M	10x	as long as short
edgeX HOODUSDC	+0.0749%	4h	120.95	+0.110%	$364K	$304K	10x	as long as short