Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.020%

Price spread now: SoDEX against Phemex−0.037%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.037% cheaper against Phemex than usual: you would sell low and buy high (spread −0.037% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 2.5 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex HOODUSDT	120.96	0	get 0.0000% / 8h	1h 52m	$990K	$9K	10x
Short	SoDEX HOOD-USD	120.92	0.0050	get 0.0006% / 1h	52m 58s	$722	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Phemex. 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 PhemexbpFee SoDEXbpOrdersPrice spread, now −0.037%Rate

Funding earned: $10.5
Price spread: −0.037% → 0.000%: −$3.72
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$13.22
Costs to cover: 0.200%
Break-even: 15.8 days

Slippage unknown: Phemex: live order book, 40 min ago; SoDEX: no order-book sample. 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 Phemex live order book, 40 min ago	2.07 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.132%	$58K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0169%	8h	121.00	+0.033%	$600K	$7.7M	50x	as long as short
Bitget HOODUSDT	−0.0083%	8h	121.02	+0.050%	$5.4M	$10.0M	20x	as long as short
Aster HOODUSDT	0.0000%	8h	120.98	+0.018%	$106K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.97	+0.006%	$357K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	121.01	+0.041%	$20.9M	$92.3M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.98	+0.017%	$3.7M	$8.9M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	120.98	+0.017%	$2.7M	$6.1M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	120.95	−0.005%	$2.3M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	120.96	0.000%	$853K	$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 HOODUSDTlong	0.0000%	8h	120.96	long leg	$990K	$9K	10x
Vest HOOD-USD-PERP	+0.0014%	1h	120.74	−0.182%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.90	−0.050%	$1.1M	$1.7M	10x	as long as short
Polymarket Perps HOOD-USD	+0.0050%	1h	120.78	−0.149%	$251K	$344K	10x	as long as short
SoDEX HOOD-USDshort	+0.0050%	1h	120.92	−0.037%	$722	$4K	10x
Ondo Perps HOOD-USD.P	+0.0050%	1h	121.05	+0.074%	$1.2M	$1.4M	15x	as long as short
QFEX HOOD-USD	+0.0062%	1h	120.97	+0.008%	$1.3M	$3.0M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	120.91	−0.040%	$67K	$105K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	121.03	+0.058%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.98	+0.017%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.96	0.000%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.94	−0.014%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.97	+0.008%	$174K	$158K	20x	as long as short
Lighter HOOD	+0.0152%	1h	120.97	+0.006%	$2.8M	$3.2M	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0184%	1h	120.93	−0.025%	$197K	$1.8M	10x	as long as short
Phoenix HOOD	+0.0198%	1h	120.99	+0.025%	$28K	$238K	10x	as long as short
tradeXYZ xyz:HOOD	+0.0237%	1h	120.92	−0.033%	$51.4M	$27.9M	10x	as long as short
RISEx HOOD/USDC	+0.0365%	1h	121.03	+0.057%	$374K	$1.4M	10x	as long as short
edgeX HOODUSDC	+0.0883%	4h	120.95	−0.007%	$364K	$303K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0908%	1h	120.99	+0.025%	$6K	$52K	10x	as long as short