Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0369%/8h= −40.4% APRpaid last 24h −0.028%

Price spread now: Gate against Phoenix−0.066%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$550.554% of the position

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now −0.066%, 7d avg +0.011%

Together, before fees−0.151%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Gate is 0.077% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.011%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.254% in total (about -13.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HOOD	120.99	0.0198	pay 0.0025% / 1h	51m 19s	$28K	$238K	10x
Short	Gate HOOD_USDT	120.91	−0.0171	pay 0.0171% / 8h	1h 51m	$600K	$7.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phoenix. 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 PhoenixbpFee GatebpOrdersPrice spread, now −0.066%Rate

Funding earned: −$77.55
Price spread: −0.066% → +0.011%: −$7.71
Slippage, 4 orders: −$33.41
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$140.67
Costs to cover: 0.554%
Break-even: never at this rate

Slippage from Phoenix: live order book, 51 min ago; Gate: 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, 51 min ago	3.31 bp	11.8 bp −$12	24.9 bp −$249	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.89 bp	18.8 bp −$19	66.9 bp −$669	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
Injective HOOD/USDC PERP	−0.0392%	1h	120.80	−0.157%	$58K	$57K	30x	as long as short
Gate HOOD_USDTshort	−0.0171%	8h	120.91	−0.066%	$600K	$7.7M	50x
Bitget HOODUSDT	−0.0081%	8h	120.96	−0.025%	$5.4M	$9.9M	20x	as long as short
Aster HOODUSDT	0.0000%	8h	120.93	−0.048%	$106K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.86	−0.111%	$357K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	120.89	−0.082%	$20.8M	$92.3M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.88	−0.091%	$3.7M	$8.9M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	120.85	−0.116%	$2.7M	$6.1M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	120.95	−0.030%	$2.3M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	120.97	−0.017%	$853K	$2.0M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HOODUSDT	0.0000%	8h	120.94	−0.041%	$989K	$9K	10x	as long as short
Vest HOOD-USD-PERP	+0.0014%	1h	120.67	−0.264%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.86	−0.107%	$1.1M	$1.8M	10x	as long as short
Polymarket Perps HOOD-USD	+0.0050%	1h	120.68	−0.256%	$250K	$344K	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	120.86	−0.104%	$722	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.81	−0.149%	$1.2M	$1.4M	15x	as long as short
QFEX HOOD-USD	+0.0062%	1h	120.84	−0.124%	$1.3M	$3.0M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	120.84	−0.120%	$67K	$105K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.95	−0.033%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.85	−0.116%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.88	−0.091%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.85	−0.112%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.97	−0.017%	$174K	$158K	20x	as long as short
Lighter HOOD	+0.0168%	1h	120.86	−0.108%	$2.8M	$3.2M	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0184%	1h	120.93	−0.050%	$197K	$1.8M	10x	as long as short
Phoenix HOODlong	+0.0198%	1h	120.99	long leg	$28K	$238K	10x
tradeXYZ xyz:HOOD	+0.0209%	1h	120.83	−0.132%	$51.3M	$27.9M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0247%	1h	120.86	−0.107%	$6K	$52K	10x	as long as short
RISEx HOOD/USDC	+0.0365%	1h	120.94	−0.041%	$374K	$1.4M	10x	as long as short
edgeX HOODUSDC	+0.0749%	4h	120.95	−0.031%	$364K	$304K	10x	as long as short