Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0088%/8h= −9.6% APRpaid last 24h −0.031%

Price spread now: Phemex against Lighter+0.054%7-day average +0.021% · you sell dearer than you buy

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

Long on Lighter Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.382%−$38 on $10k

Price spread, last 4 days (all we have)+0.089%+$9 · spread now +0.054%, 7d avg +0.021%

Together, before fees−0.293%+ Points / potential airdropLighter: Season 3 · farm board−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.034% dearer against Lighter than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of +0.021%): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours. At the pace of the last 7 days (−0.382% in total) that is about 15 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter HOOD	121.69	0.0088	pay 0.0011% / 1h	24m 58s	$2.8M	$3.1M	10x
Short	Phemex HOODUSDT	121.76	0	get 0.0000% / 8h	5h 24m	$996K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Lighter. 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 LighterbpFee PhemexbpOrdersPrice spread, now +0.054%Rate

Funding earned: −$18.48
Price spread: +0.054% → +0.021%: $3.37
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$27.11
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 2 min ago; Phemex: live order book, 23 min ago. 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 Lighter live order book, 2 min ago	0.57 bp	1.0 bp −$1	5.2 bp −$52	doesn't fit	doesn't fit
Sell Phemex live order book, 23 min ago	2.06 bp	doesn't fit	doesn't fit	doesn't fit	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	−0.0127%	1h	121.54	−0.127%	$252K	$344K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	121.72	+0.025%	$106K	$279K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	121.71	+0.012%	$358K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	121.74	+0.035%	$21.1M	$90.4M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	121.73	+0.030%	$3.9M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	121.76	+0.054%	$2.7M	$6.0M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	121.69	+0.001%	$379K	$1.4M	10x	as long as short
Gate HOOD_USDT	0.0000%	8h	121.76	+0.054%	$579K	$7.7M	50x	as long as short
Bitget HOODUSDT	0.0000%	8h	121.76	+0.054%	$5.4M	$9.6M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	121.69	−0.003%	$2.3M	$1.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT HOOD_USDT_Perp	0.0000%	8h	121.65	−0.037%	$854K	$2.0M	10x	as long as short
Phemex HOODUSDTshort	0.0000%	8h	121.76	+0.054%	$996K	$8K	10x
QFEX HOOD-USD	+0.0024%	1h	121.73	+0.030%	$1.3M	$3.7M	10x	as long as short
Vest HOOD-USD-PERP	+0.0026%	1h	121.60	−0.077%	—	$62K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	121.67	−0.020%	$1.1M	$1.7M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	121.73	+0.030%	$52.0M	$28.1M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	121.68	−0.015%	$733	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	121.74	+0.038%	$1.2M	$1.5M	15x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0056%	1h	121.54	−0.127%	$194K	$1.9M	10x	as long as short
Lighter HOODlong	+0.0088%	1h	121.69	long leg	$2.8M	$3.1M	10x
Pacifica HOOD	+0.0100%	1h	121.70	+0.008%	$68K	$108K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	121.77	+0.062%	$1.3M	$1.2M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	121.61	−0.069%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	121.70	+0.005%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	121.67	−0.016%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	121.75	+0.046%	$174K	$159K	20x	as long as short
Phoenix HOOD	+0.0197%	1h	121.71	+0.013%	$28K	$239K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0326%	1h	121.68	−0.012%	$7K	$68K	10x	as long as short
Injective HOOD/USDC PERP	+0.0345%	1h	121.36	−0.274%	$58K	$57K	30x	as long as short
edgeX HOODUSDC	+0.0422%	4h	121.63	−0.053%	$366K	$303K	10x	as long as short