Funding you earn now, next payment 03:00 UTC−0.0132%/8h= −14.4% APRpaid last 24h −0.069%
Price spread now: Bybit against Phoenix−0.058%96s7-day average −0.005% · you buy dearer than you sell
Net, funding: paid 7d − costs−$65as 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−$490.492% of the position
Funding, last 7 days−0.161%−$16 on $10k
+Price spread, last 4 days (all we have)+0.130%+$13 · spread now −0.058%, 7d avg −0.005%
=Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bybit is 0.052% cheaper against Phoenix than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.005%). Swap the legs. The two prices were read 96 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 | 121.34 | 0.0132 | pay 0.0016% / 1h | 35m 55s | $27K | $238K | 10x |
| Short | Bybit HOODUSDT | 121.27 | 0 | get 0.0000% / 8h | 4h 35m | $3.9M | $8.7M | 25x |
Phoenix HOOD
Bybit HOODUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$27.62
- Price spread: −0.058% → −0.005%
- −$5.24
- Slippage, 4 orders
- −$31.18
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$82.04
- Costs to cover
- 0.492%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 16 min ago; Bybit: live order book, 2 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, 16 min ago | 3.29 bp | 11.7 bp −$12 | 25.5 bp −$255 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 2 min ago | 0.82 bp | 12.1 bp −$12 | 27.3 bp −$273 | 903.8 bp −$90.4K | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective HOOD/USDC PERP | −0.0440% | 1h | 121.05 | −0.239% | $58K | $57K | 30x | as long as short |
| Polymarket Perps HOOD-USD | −0.0132% | 1h | 121.09 | −0.206% | $251K | $344K | 10x | as long as short |
| Gate HOOD_USDT | −0.0031% | 8h | 121.29 | −0.041% | $572K | $7.7M | 50x | as long as short |
| Aster HOODUSDT | 0.0000% | 8h | 121.31 | −0.025% | $106K | $280K | 20x | as long as short |
| Extended HOOD_24_5-USD | 0.0000% | 1h | 121.25 | −0.075% | $358K | $1.3M | 10x | as long as short |
| Binance HOODUSDT | 0.0000% | 8h | 121.28 | −0.049% | $21.0M | $90.8M | 20x | as long as short |
| Bybit HOODUSDTshort | 0.0000% | 8h | 121.27 | −0.058% | $3.9M | $8.7M | 25x | |
| OKX HOOD-USDT-SWAP | 0.0000% | 8h | 121.25 | −0.074% | $2.7M | $6.0M | 20x | as long as short |
| RISEx HOOD/USDC | 0.0000% | 1h | 121.27 | −0.058% | $397K | $1.4M | 10x | as long as short |
| Bitget HOODUSDT | 0.0000% | 8h | 121.31 | −0.025% | $5.4M | $9.6M | 20x | as long as short |
Injective HOOD/USDC PERP
Polymarket Perps HOOD-USD
Gate HOOD_USDT
Aster HOODUSDT
Extended HOOD_24_5-USD
Binance HOODUSDT
OKX HOOD-USDT-SWAP
RISEx HOOD/USDC
Bitget HOODUSDTShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni HOOD | 0.0000% | 8h | 121.22 | −0.100% | $2.3M | $1.1M | — | as long as short |
| GRVT HOOD_USDT_Perp | 0.0000% | 8h | 121.35 | +0.010% | $849K | $2.0M | 10x | as long as short |
| Deribit HOOD_USDC-PERPETUAL | 0.0000% | 1h | 121.25 | −0.074% | $7K | $55K | 10x | as long as short |
| Phemex HOODUSDT | 0.0000% | 8h | 121.29 | −0.041% | $992K | $8K | 10x | as long as short |
| Vest HOOD-USD-PERP | +0.0021% | 1h | 121.11 | −0.190% | — | $62K | 25x | as long as short |
| QFEX HOOD-USD | +0.0029% | 1h | 121.27 | −0.058% | $1.3M | $3.6M | 10x | as long as short |
| Lighter HOOD | +0.0032% | 1h | 121.24 | −0.086% | $2.8M | $3.1M | 10x | as long as short |
| Arcus HOOD-USD | +0.0040% | 1h | 121.20 | −0.115% | $1.1M | $1.7M | 10x | as long as short |
| tradeXYZ xyz:HOOD | +0.0050% | 1h | 121.20 | −0.115% | $51.8M | $28.1M | 10x | as long as short |
| SoDEX HOOD-USD | +0.0050% | 1h | 121.22 | −0.103% | $732 | $4K | 10x | as long as short |
| Ondo Perps HOOD-USD.P | +0.0050% | 1h | 121.16 | −0.148% | $1.2M | $1.5M | 15x | as long as short |
| Coinbase International HOOD-PERP-INTX | +0.0096% | 1h | 121.54 | +0.165% | $194K | $1.9M | 10x | as long as short |
| Pacifica HOOD | +0.0100% | 1h | 121.26 | −0.069% | $68K | $105K | 10x | as long as short |
| KuCoin HOODUSDTM | +0.0100% | 8h | 121.35 | +0.008% | $1.3M | $1.2M | 20x | as long as short |
| ApeX Omni HOODUSDT | +0.0100% | 1h | 121.27 | −0.058% | $5K | $41K | 50x | as long as short |
| Orderly PERP_HOOD_USDC_mythos | +0.0100% | 8h | 121.25 | −0.074% | $2K | $2K | 10x | as long as short |
| Aevo HOOD-PERP | +0.0104% | 1h | 121.23 | −0.093% | $16K | — | 10x | as long as short |
| BloFin HOOD-USDT | +0.0120% | 8h | 121.27 | −0.058% | $175K | $162K | 20x | as long as short |
| Phoenix HOODlong | +0.0132% | 1h | 121.34 | long leg | $27K | $238K | 10x | |
| edgeX HOODUSDC | +0.0377% | 4h | 121.34 | −0.002% | $365K | $304K | 10x | as long as short |
Variational Omni HOOD
GRVT HOOD_USDT_Perp
Deribit HOOD_USDC-PERPETUAL
Phemex HOODUSDT
Vest HOOD-USD-PERP
QFEX HOOD-USD
Lighter HOOD
Arcus HOOD-USD
tradeXYZ xyz:HOOD
SoDEX HOOD-USD
Ondo Perps HOOD-USD.P
Coinbase International HOOD-PERP-INTX
Pacifica HOOD
KuCoin HOODUSDTM
ApeX Omni HOODUSDT
Orderly PERP_HOOD_USDC_mythos
Aevo HOOD-PERP
BloFin HOOD-USDT
edgeX HOODUSDC