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Funding arb · Price arb /

HOOD

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Alert: spread
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Funding you earn now, next payment 11:00 UTC+0.0184%/8h= +20.1% APRpaid last 24h +0.049%
Price spread now: Coinbase International against Bybit−0.114%7-day average −0.157% · you buy dearer than you sell
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$430.430% of the position
Long on BybitShort on Coinbase International
What this pair did over the last
the charts below follow
Funding, last 7 days+0.097%+$10 on $10k
Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.114%, 7d avg −0.157%
Together, before fees+0.119%+$12 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 0.043% dearer against Bybit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.157%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.097% in total (about 5.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongBybit HOODUSDT122.540get 0.0000% / 8h4h 54m$3.7M$7.2M25x
ShortCoinbase International HOOD-PERP-INTX122.400.0184get 0.0023% / 1h54m 52s$232K$1.5M10x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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

Funding earned
$38.64
Price spread: −0.114% → −0.157%
$4.27
Slippage, 4 orders
−$21.95
Fee Bybit: 5.5 bp × 2 orders
−$11
Fee Coinbase International: 5 bp × 2 orders
−$10
Net
−$0.05
Costs to cover
0.430%
Break-even
7.0 days
Slippage from Bybit: live order book, 1 min ago; Coinbase International: live order book, 2 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Bybit live order book, 1 min ago1.22 bp13.0 bp −$1332.0 bp −$320doesn't fitdoesn't fit
Sell Coinbase International live order book, 2 min ago2.86 bp8.3 bp −$815.2 bp −$152doesn't fitdoesn't fit

HOOD on 30 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Aster HOODUSDT0.0000%8h122.58+0.033%$111K$285K20xas long as short
Bybit HOODUSDTlong0.0000%8h122.54long leg$3.7M$7.2M25x
OKX HOOD-USDT-SWAP0.0000%8h122.57+0.024%$2.7M$5.7M20xas long as short
Gate HOOD_USDT0.0000%8h122.61+0.057%$577K$6.6M50xas long as short
Bitget HOODUSDT0.0000%8h122.60+0.049%$5.6M$9.0M20xas long as short
Phemex HOODUSDT0.0000%8h122.61+0.057%$1.0M$7K10xas long as short
Injective HOOD/USDC PERP+0.0033%1h121.69−0.694%$28K$96K30xas long as short
QFEX HOOD-USD+0.0046%1h122.57+0.024%$1.3M$2.7M10xas long as short
Vest HOOD-USD-PERP+0.0046%1h122.40−0.114%—$64K25xas long as short
Polymarket Perps HOOD-USD+0.0050%1h122.45−0.073%$253K$340K10xas long as short
Show all 30 exchanges
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
SoDEX HOOD-USD+0.0050%1h122.54+0.001%$727$4K10xas long as short
Ondo Perps HOOD-USD.P+0.0050%1h122.540.000%$1.3M$1.2M15xas long as short
Variational Omni HOOD+0.0098%8h122.55+0.010%$2.3M$870K—as long as short
Pacifica HOOD+0.0100%1h122.55+0.005%$73K$115K10xas long as short
KuCoin HOODUSDTM+0.0100%8h122.55+0.008%$1.7M$1.5M20xas long as short
ApeX Omni HOODUSDT+0.0100%1h122.47−0.057%$5K$29K50xas long as short
Orderly PERP_HOOD_USDC_mythos+0.0100%8h122.57+0.024%$2K$2K10xas long as short
Aevo HOOD-PERP+0.0104%1h122.55+0.008%$16K—10xas long as short
Arcus HOOD-USD+0.0160%1h122.540.000%$1.1M$1.9M10xas long as short
Coinbase International HOOD-PERP-INTXshort+0.0184%1h122.40−0.114%$232K$1.5M10x
Phoenix HOOD+0.0196%1h122.58+0.033%$28K$241K10xas long as short
Lighter HOOD+0.0200%1h122.57+0.024%$2.8M$2.9M10xas long as short
Binance HOODUSDT+0.0223%8h122.58+0.029%$21.3M$87.1M20xas long as short
Extended HOOD_24_5-USD+0.0224%1h122.54−0.003%$467K$2.6M10xas long as short
tradeXYZ xyz:HOOD+0.0229%1h122.540.000%$51.7M$24.5M10xas long as short
GRVT HOOD_USDT_Perp+0.0254%8h122.61+0.057%$861K$1.7M10xas long as short
BloFin HOOD-USDT+0.0345%8h122.540.000%$176K$179K20xas long as short
Deribit HOOD_USDC-PERPETUAL+0.0403%1h122.53−0.008%$6K$30K10xas long as short
edgeX HOODUSDC+0.0704%4h122.54+0.002%$369K$302K10xas long as short
RISEx HOOD/USDC+0.0809%1h122.67+0.110%$457K$1.4M10xas long as short