Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h +0.049%

Price spread now: Bybit against Polymarket Perps+0.121%7-day average +0.150% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$420.425% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.231%+$23 on $10k

Price spread, last 7 days−0.099%−$10 · spread now +0.121%, 7d avg +0.150%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.028% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.150%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.231%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps HOOD-USD	123.46	0.0035	pay 0.0004% / 1h	11m 51s	$263K	$320K	10x
Short	Bybit HOODUSDT	123.61	0	get 0.0000% / 8h	2h 11m	$4.0M	$8.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket Perps. 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now +0.121%Rate

Funding earned: −$7.27
Price spread: +0.121% → +0.150%: −$2.8
Slippage, 4 orders: −$23.5
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$52.57
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 10 min ago; Bybit: 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 Polymarket Perps live order book, 10 min ago	3.64 bp	7.6 bp −$8	7.6 bp −$76	doesn't fit	doesn't fit
Sell Bybit live order book, 6 min ago	1.21 bp	15.6 bp −$16	36.6 bp −$366	1022.6 bp −$102.3K	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
Aster HOODUSDT	0.0000%	8h	123.62	+0.130%	$110K	$262K	20x	as long as short
Bybit HOODUSDTshort	0.0000%	8h	123.61	+0.121%	$4.0M	$8.7M	25x
OKX HOOD-USDT-SWAP	0.0000%	8h	123.65	+0.154%	$3.0M	$5.7M	20x	as long as short
Gate HOOD_USDT	0.0000%	8h	123.59	+0.105%	$554K	$7.9M	50x	as long as short
Phemex HOODUSDT	0.0000%	8h	123.62	+0.130%	$1.0M	$8K	10x	as long as short
Injective HOOD/USDC PERP	+0.0004%	1h	123.73	+0.219%	$63K	$50K	30x	as long as short
Bitget HOODUSDT	+0.0018%	8h	123.61	+0.121%	$5.7M	$9.2M	20x	as long as short
Variational Omni HOOD	+0.0030%	8h	123.72	+0.210%	$2.4M	$1.0M	—	as long as short
Polymarket Perps HOOD-USDlong	+0.0035%	1h	123.46	long leg	$263K	$320K	10x
Vest HOOD-USD-PERP	+0.0046%	1h	123.54	+0.065%	—	$63K	25x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX HOOD-USD	+0.0050%	1h	123.59	+0.109%	$744	$3K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	123.47	+0.008%	$1.4M	$1.3M	15x	as long as short
Lighter HOOD	+0.0056%	1h	123.57	+0.092%	$3.1M	$1.9M	10x	as long as short
QFEX HOOD-USD	+0.0061%	1h	123.58	+0.097%	$1.3M	$4.1M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	123.58	+0.101%	$80K	$107K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	123.68	+0.178%	$1.3M	$1.1M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	123.59	+0.105%	$45K	$247K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	123.61	+0.121%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	123.60	+0.114%	$16K	—	10x	as long as short
GRVT HOOD_USDT_Perp	+0.0115%	8h	123.74	+0.227%	$871K	$2.2M	10x	as long as short
Binance HOODUSDT	+0.0149%	8h	123.61	+0.121%	$23.8M	$84.3M	20x	as long as short
Extended HOOD_24_5-USD	+0.0152%	1h	123.60	+0.113%	$419K	$1.2M	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0192%	1h	123.41	−0.040%	$196K	$1.8M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0235%	1h	123.67	+0.170%	$6K	$84K	10x	as long as short
BloFin HOOD-USDT	+0.0271%	8h	123.63	+0.138%	$188K	$123K	20x	as long as short
tradeXYZ xyz:HOOD	+0.0288%	1h	123.59	+0.105%	$53.1M	$30.0M	10x	as long as short
Phoenix HOOD	+0.0323%	1h	123.80	+0.275%	$28K	$188K	10x	as long as short
RISEx HOOD/USDC	+0.0337%	1h	123.61	+0.123%	$424K	$1.4M	10x	as long as short
Arcus HOOD-USD	+0.0472%	1h	123.55	+0.073%	$1.1M	$1.7M	10x	as long as short
edgeX HOODUSDC	+0.0816%	4h	123.66	+0.163%	$372K	$308K	10x	as long as short