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: Lighter against Phoenix+0.004%74s7-day average 0.000% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as 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 Phoenix Short on Lighter

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)+0.036%+$4 · spread now +0.004%, 7d avg 0.000%

Together, before fees+0.155%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of 0.000%, so right now this pair is about funding alone: −$11 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.119%, so the current rate has only just turned against you. The two prices were read 74 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	Phoenix HOOD	122.44	0.0388	pay 0.0049% / 1h	6m 09s	$28K	$188K	10x
Short	Lighter HOOD	122.44	0.0032	get 0.0004% / 1h	6m 09s	$2.9M	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now +0.004%Rate

Funding earned: −$74.85
Price spread: +0.004% → 0.000%: $0.36
Slippage, 4 orders: −$18.18
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$99.67
Costs to cover: 0.252%
Break-even: never at this rate

Slippage from Phoenix: live order book, 6 min ago; Lighter: live order book, 6 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 Phoenix live order book, 6 min ago	2.45 bp	10.1 bp −$10	21.4 bp −$214	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	1.10 bp	2.2 bp −$2	6.3 bp −$63	297.6 bp −$29.8K	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	−0.0140%	1h	122.38	−0.049%	$269K	$332K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	122.45	+0.005%	$108K	$263K	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	122.50	+0.049%	$3.9M	$8.8M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	122.48	+0.033%	$2.9M	$5.8M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	122.45	+0.009%	$393K	$1.4M	10x	as long as short
Gate HOOD_USDT	0.0000%	8h	122.48	+0.033%	$569K	$7.9M	50x	as long as short
Bitget HOODUSDT	0.0000%	8h	122.50	+0.049%	$5.6M	$9.6M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	122.39	−0.042%	$2.3M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	122.44	−0.003%	$857K	$2.0M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	0.0000%	1h	122.47	+0.025%	$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	122.46	+0.016%	$1.0M	$8K	10x	as long as short
Lighter HOODshort	+0.0032%	1h	122.44	+0.004%	$2.9M	$2.2M	10x
Extended HOOD_24_5-USD	+0.0040%	1h	122.47	+0.025%	$411K	$1.2M	10x	as long as short
Binance HOODUSDT	+0.0043%	8h	122.48	+0.035%	$22.1M	$88.0M	20x	as long as short
Vest HOOD-USD-PERP	+0.0046%	1h	122.38	−0.049%	—	$63K	25x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	122.42	−0.013%	$735	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	122.35	−0.074%	$1.2M	$1.6M	15x	as long as short
QFEX HOOD-USD	+0.0057%	1h	122.48	+0.033%	$1.3M	$4.1M	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0080%	1h	122.43	−0.008%	$198K	$1.9M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	122.49	+0.042%	$71K	$114K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	122.53	+0.074%	$1.3M	$1.1M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	122.44	0.000%	$5K	$135K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	122.48	+0.033%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	122.45	+0.008%	$16K	—	10x	as long as short
tradeXYZ xyz:HOOD	+0.0105%	1h	122.47	+0.025%	$52.5M	$29.8M	10x	as long as short
BloFin HOOD-USDT	+0.0167%	8h	122.40	−0.033%	$183K	$123K	20x	as long as short
Arcus HOOD-USD	+0.0187%	1h	122.34	−0.082%	$1.1M	$1.7M	10x	as long as short
Injective HOOD/USDC PERP	+0.0258%	1h	123.07	+0.515%	$63K	$50K	30x	as long as short
Phoenix HOODlong	+0.0388%	1h	122.44	long leg	$28K	$188K	10x
edgeX HOODUSDC	+0.0985%	4h	122.43	−0.012%	$368K	$306K	10x	as long as short