Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0412%/8h= −45.1% APRpaid last 24h −0.077%

Price spread now: Bybit against RISEx+0.116%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on RISEx Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.128%−$13 on $10k

Price spread, last 5 days (all we have)−0.245%−$25 · spread now +0.116%, 7d avg −0.040%

Together, before fees−0.374%−$37 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.156% dearer against RISEx than usual: you sell high and buy low (spread +0.116% now, against its 7-day average of −0.040%): +$16 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 30 hours. At the pace of the last 4 days (−0.128% in total) that is about 4.6 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.128% in total (about -12.4% 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	RISEx HOOD/USDC	121.01	0.0421	pay 0.0053% / 1h	19m 53s	$428K	$1.3M	10x
Short	Bybit HOODUSDT	121.15	0.0009	get 0.0009% / 8h	7h 19m	$3.7M	$8.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against RISEx. 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 RISExbpFee BybitbpOrdersPrice spread, now +0.116%Rate

Funding earned: −$86.45
Price spread: +0.116% → −0.040%: $15.61
Slippage, 4 orders: −$26.62
Fee RISEx: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$114.46
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from RISEx: live order book, 4 min ago; Bybit: live order book, 3 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 RISEx live order book, 4 min ago	0.42 bp	3.4 bp −$3	6.2 bp −$62	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.07 bp	18.9 bp −$19	52.5 bp −$525	1244.6 bp −$124.5K	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	120.50	−0.421%	$25K	$89K	30x	as long as short
Aster HOODUSDT	0.0000%	8h	120.94	−0.056%	$109K	$284K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	121.16	+0.125%	$357K	$2.3M	10x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	121.15	+0.116%	$2.7M	$6.1M	20x	as long as short
Gate HOOD_USDT	0.0000%	8h	121.13	+0.099%	$599K	$7.1M	50x	as long as short
Bitget HOODUSDT	0.0000%	8h	121.20	+0.157%	$5.5M	$9.6M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	121.05	+0.031%	$2.2M	$977K	—	as long as short
Phemex HOODUSDT	0.0000%	8h	121.07	+0.050%	$991K	$8K	10x	as long as short
Binance HOODUSDT	+0.0001%	8h	121.19	+0.149%	$21.0M	$91.1M	20x	as long as short
Vest HOOD-USD-PERP	+0.0003%	1h	120.77	−0.198%	—	$64K	25x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit HOODUSDTshort	+0.0009%	8h	121.15	+0.116%	$3.7M	$8.1M	25x
QFEX HOOD-USD	+0.0038%	1h	120.97	−0.033%	$1.3M	$2.8M	10x	as long as short
Lighter HOOD	+0.0040%	1h	121.06	+0.044%	$2.8M	$3.1M	10x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.90	−0.091%	$1.1M	$1.8M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	121.08	+0.058%	$51.1M	$26.7M	10x	as long as short
Polymarket Perps HOOD-USD	+0.0050%	1h	120.92	−0.074%	$252K	$336K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.85	−0.132%	$1.2M	$1.4M	15x	as long as short
Pacifica HOOD	+0.0100%	1h	120.91	−0.085%	$74K	$107K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	121.01	0.000%	$1.3M	$1.4M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.25	−0.628%	$5K	$36K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.98	−0.025%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	121.05	+0.034%	$16K	—	10x	as long as short
GRVT HOOD_USDT_Perp	+0.0115%	8h	120.42	−0.488%	$852K	$1.9M	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.97	−0.033%	$175K	$176K	20x	as long as short
Phoenix HOOD	+0.0133%	1h	120.29	−0.595%	$28K	$238K	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0200%	1h	119.88	−0.934%	$195K	$1.8M	10x	as long as short
SoDEX HOOD-USD	+0.0248%	1h	120.93	−0.069%	$721	$4K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0411%	1h	121.04	+0.025%	$6K	$53K	10x	as long as short
RISEx HOOD/USDClong	+0.0421%	1h	121.01	long leg	$428K	$1.3M	10x
edgeX HOODUSDC	+0.0499%	4h	120.19	−0.677%	$362K	$303K	10x	as long as short