Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0479%/8h= −52.4% APRpaid last 24h −0.073%

Price spread now: OKX against RISEx−0.054%7-day average −0.033% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on RISEx Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.148%−$15 on $10k

Price spread, last 5 days (all we have)−0.068%−$7 · spread now −0.054%, 7d avg −0.033%

Together, before fees−0.216%−$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and OKX is 0.021% cheaper against RISEx than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.033%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.148% in total (about -14.5% 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	120.61	0.0479	pay 0.0060% / 1h	31m 15s	$397K	$1.4M	10x
Short	OKX HOOD-USDT-SWAP	120.54	0	get 0.0000% / 8h	31m 15s	$2.7M	$6.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$100.57
Price spread: −0.054% → −0.033%: −$2.13
Slippage, 4 orders: −$20.37
Fee RISEx: 3 bp × 2 orders: −$6
Fee OKX: 5 bp × 2 orders: −$10
Net: −$139.06
Costs to cover: 0.364%
Break-even: never at this rate

Slippage from RISEx: live order book, 2 min ago; OKX: 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 RISEx live order book, 2 min ago	2.07 bp	5.1 bp −$5	6.1 bp −$61	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	1.66 bp	16.0 bp −$16	37.1 bp −$371	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	−0.0440%	1h	120.48	−0.104%	$57K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0175%	8h	120.59	−0.013%	$598K	$7.6M	50x	as long as short
Bitget HOODUSDT	−0.0095%	8h	120.64	+0.029%	$5.5M	$9.9M	20x	as long as short
Aster HOODUSDT	0.0000%	8h	120.58	−0.017%	$105K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.56	−0.039%	$356K	$2.2M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	120.59	−0.013%	$20.8M	$92.0M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.57	−0.030%	$3.7M	$8.8M	25x	as long as short
OKX HOOD-USDT-SWAPshort	0.0000%	8h	120.54	−0.054%	$2.7M	$6.2M	20x
Variational Omni HOOD	0.0000%	8h	120.66	+0.042%	$2.2M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	120.58	−0.022%	$852K	$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	120.56	−0.038%	$986K	$8K	10x	as long as short
Polymarket Perps HOOD-USD	+0.0002%	1h	120.40	−0.170%	$251K	$345K	10x	as long as short
Vest HOOD-USD-PERP	+0.0020%	1h	120.38	−0.187%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.52	−0.071%	$1.1M	$1.7M	10x	as long as short
QFEX HOOD-USD	+0.0046%	1h	120.57	−0.030%	$1.3M	$2.9M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	120.53	−0.063%	$51.1M	$26.9M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	120.52	−0.068%	$720	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.49	−0.096%	$1.3M	$1.4M	15x	as long as short
Lighter HOOD	+0.0088%	1h	120.54	−0.058%	$2.8M	$3.2M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	120.57	−0.030%	$74K	$111K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.59	−0.013%	$1.3M	$1.4M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.46	−0.121%	$5K	$40K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.56	−0.038%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.54	−0.054%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.59	−0.013%	$173K	$170K	20x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0192%	1h	120.47	−0.112%	$196K	$1.8M	10x	as long as short
Phoenix HOOD	+0.0265%	1h	120.55	−0.046%	$28K	$238K	10x	as long as short
RISEx HOOD/USDClong	+0.0479%	1h	120.61	long leg	$397K	$1.4M	10x
edgeX HOODUSDC	+0.0663%	4h	120.58	−0.020%	$363K	$305K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0746%	1h	120.56	−0.038%	$6K	$52K	10x	as long as short