Funding you earn now, next payment 10:00 UTC−0.0146%/8h= −16.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.029%
Price spread now: tradeXYZ against Phoenix−0.180%61s7-day average −0.045% · you buy dearer than you sell
Net, funding: paid 7d − costs−$55as 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−$460.457% of the position
Funding, last 7 days−0.090%−$9 on $10k
+Price spread, last 4 days (all we have)+0.186%+$19 · spread now −0.180%, 7d avg −0.045%
=Together, before fees+0.096%+ Points / potential airdroptradeXYZ: Active · farm board+$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and tradeXYZ is 0.135% cheaper against Phoenix than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.045%). Swap the legs. The two prices were read 61 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix HOOD | 122.39 | 0.0196 | pay 0.0025% / 1h | 44m 27s | $28K | $239K | 10x |
| Short | tradeXYZ xyz:HOOD | 122.17 | 0.0050 | get 0.0006% / 1h | 44m 27s | $51.5M | $25.4M | 10x |
Phoenix HOOD
tradeXYZ xyz:HOODFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$30.68
- Price spread: −0.180% → −0.045%
- −$13.46
- Slippage, 4 orders
- −$20.74
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$89.87
- Costs to cover
- 0.457%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 63 min ago; tradeXYZ: live order book, 8 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, 63 min ago | 3.28 bp | 11.7 bp −$12 | 26.0 bp −$260 | doesn't fit | doesn't fit |
| Sell tradeXYZ live order book, 8 min ago | 1.23 bp | 11.1 bp −$11 | 13.9 bp −$139 | doesn't fit | doesn't fit |
HOOD on 30 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit HOOD_USDC-PERPETUAL | −0.0405% | 1h | 122.11 | −0.229% | $6K | $41K | 10x | as long as short |
| Aster HOODUSDT | 0.0000% | 8h | 122.19 | −0.163% | $110K | $285K | 20x | as long as short |
| Bybit HOODUSDT | 0.0000% | 8h | 122.21 | −0.147% | $3.7M | $7.4M | 25x | as long as short |
| OKX HOOD-USDT-SWAP | 0.0000% | 8h | 122.19 | −0.163% | $2.7M | $5.9M | 20x | as long as short |
| Gate HOOD_USDT | 0.0000% | 8h | 122.20 | −0.155% | $582K | $6.8M | 50x | as long as short |
| Bitget HOODUSDT | 0.0000% | 8h | 122.19 | −0.163% | $5.6M | $9.1M | 20x | as long as short |
| Phemex HOODUSDT | 0.0000% | 8h | 122.22 | −0.139% | $1.0M | $7K | 10x | as long as short |
| Injective HOOD/USDC PERP | +0.0009% | 1h | 121.69 | −0.572% | $28K | $96K | 30x | as long as short |
| Vest HOOD-USD-PERP | +0.0046% | 1h | 122.00 | −0.319% | — | $64K | 25x | as long as short |
| tradeXYZ xyz:HOODshort | +0.0050% | 1h | 122.17 | −0.180% | $51.5M | $25.4M | 10x |
Deribit HOOD_USDC-PERPETUAL
Aster HOODUSDT
Bybit HOODUSDT
OKX HOOD-USDT-SWAP
Gate HOOD_USDT
Bitget HOODUSDT
Phemex HOODUSDT
Injective HOOD/USDC PERP
Vest HOOD-USD-PERPShow all 30 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps HOOD-USD | +0.0050% | 1h | 122.07 | −0.261% | $253K | $339K | 10x | as long as short |
| SoDEX HOOD-USD | +0.0050% | 1h | 122.18 | −0.175% | $730 | $4K | 10x | as long as short |
| Ondo Perps HOOD-USD.P | +0.0050% | 1h | 122.04 | −0.286% | $1.3M | $1.2M | 15x | as long as short |
| QFEX HOOD-USD | +0.0070% | 1h | 122.17 | −0.180% | $1.3M | $2.7M | 10x | as long as short |
| Lighter HOOD | +0.0072% | 1h | 122.20 | −0.152% | $2.9M | $2.9M | 10x | as long as short |
| Pacifica HOOD | +0.0100% | 1h | 122.18 | −0.168% | $73K | $116K | 10x | as long as short |
| KuCoin HOODUSDTM | +0.0100% | 8h | 122.27 | −0.098% | $1.7M | $1.5M | 20x | as long as short |
| ApeX Omni HOODUSDT | +0.0100% | 1h | 122.24 | −0.123% | $5K | $29K | 50x | as long as short |
| Orderly PERP_HOOD_USDC_mythos | +0.0100% | 8h | 122.19 | −0.163% | $2K | $2K | 10x | as long as short |
| Aevo HOOD-PERP | +0.0104% | 1h | 122.19 | −0.163% | $16K | — | 10x | as long as short |
| Variational Omni HOOD | +0.0112% | 8h | 122.18 | −0.173% | $2.3M | $875K | — | as long as short |
| Phoenix HOODlong | +0.0196% | 1h | 122.39 | long leg | $28K | $239K | 10x | |
| Coinbase International HOOD-PERP-INTX | +0.0224% | 1h | 121.81 | −0.474% | $229K | $1.6M | 10x | as long as short |
| Binance HOODUSDT | +0.0235% | 8h | 122.18 | −0.172% | $21.3M | $87.1M | 20x | as long as short |
| Extended HOOD_24_5-USD | +0.0240% | 1h | 122.15 | −0.195% | $469K | $2.6M | 10x | as long as short |
| Arcus HOOD-USD | +0.0252% | 1h | 122.15 | −0.196% | $1.1M | $1.9M | 10x | as long as short |
| BloFin HOOD-USDT | +0.0360% | 8h | 122.20 | −0.155% | $175K | $179K | 20x | as long as short |
| edgeX HOODUSDC | +0.0412% | 4h | 122.28 | −0.087% | $368K | $303K | 10x | as long as short |
| GRVT HOOD_USDT_Perp | +0.0481% | 8h | 122.33 | −0.053% | $859K | $1.7M | 10x | as long as short |
| RISEx HOOD/USDC | +0.0862% | 1h | 122.27 | −0.102% | $454K | $1.3M | 10x | as long as short |
Polymarket Perps HOOD-USD
SoDEX HOOD-USD
Ondo Perps HOOD-USD.P
QFEX HOOD-USD
Lighter HOOD
Pacifica HOOD
KuCoin HOODUSDTM
ApeX Omni HOODUSDT
Orderly PERP_HOOD_USDC_mythos
Aevo HOOD-PERP
Variational Omni HOOD
Coinbase International HOOD-PERP-INTX
Binance HOODUSDT
Extended HOOD_24_5-USD
Arcus HOOD-USD
BloFin HOOD-USDT
edgeX HOODUSDC
GRVT HOOD_USDT_Perp
RISEx HOOD/USDC