Funding you earn now, next payment 02:00 UTC+0.0197%/8h= +21.6% APRpaid last 24h +0.069%
Price spread now: Phoenix against Bybit−0.033%105s7-day average +0.003% · you buy dearer than you sell
Net, funding: paid 7d − costs−$37as 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−$530.530% of the position
Funding, last 7 days+0.160%+$16 on $10k
+Price spread, last 4 days (all we have)−0.235%−$23 · spread now −0.033%, 7d avg +0.003%
=Funding pays, the price is against you. Phoenix is 0.036% cheaper against Bybit than usual: you would sell low and buy high (spread −0.033% now, against its 7-day average of +0.003%). If the spread goes back, that is −$4 on $10k: about 14 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.160% in total) that is about 37 hours. The two prices were read 105 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 | Bybit HOODUSDT | 121.63 | 0 | get 0.0000% / 8h | 5h 51m | $3.9M | $8.8M | 25x |
| Short | Phoenix HOOD | 121.59 | 0.0197 | get 0.0025% / 1h | 51m 47s | $28K | $239K | 10x |
Bybit HOODUSDT
Phoenix HOODFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $41.39
- Price spread: −0.033% → +0.003%
- −$3.55
- Slippage, 4 orders
- −$34.97
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$15.13
- Costs to cover
- 0.530%
- Break-even
- 9.6 days
Slippage from Bybit: live order book, 1 min ago; Phoenix: live order book, 6 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 Bybit live order book, 1 min ago | 1.64 bp | 12.8 bp −$13 | 35.6 bp −$356 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 6 min ago | 4.11 bp | 13.0 bp −$13 | 28.7 bp −$287 | doesn't fit | doesn't fit |
HOOD on 29 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 | −0.0181% | 1h | 121.40 | −0.189% | $252K | $344K | 10x | as long as short |
| Aster HOODUSDT | 0.0000% | 8h | 121.60 | −0.026% | $106K | $279K | 20x | as long as short |
| Extended HOOD_24_5-USD | 0.0000% | 1h | 121.57 | −0.051% | $358K | $1.3M | 10x | as long as short |
| Binance HOODUSDT | 0.0000% | 8h | 121.60 | −0.029% | $21.1M | $90.2M | 20x | as long as short |
| Bybit HOODUSDTlong | 0.0000% | 8h | 121.63 | long leg | $3.9M | $8.8M | 25x | |
| OKX HOOD-USDT-SWAP | 0.0000% | 8h | 121.60 | −0.025% | $2.7M | $6.0M | 20x | as long as short |
| RISEx HOOD/USDC | 0.0000% | 1h | 121.59 | −0.033% | $376K | $1.4M | 10x | as long as short |
| Gate HOOD_USDT | 0.0000% | 8h | 121.64 | +0.008% | $579K | $7.7M | 50x | as long as short |
| Bitget HOODUSDT | 0.0000% | 8h | 121.65 | +0.016% | $5.4M | $9.5M | 20x | as long as short |
| Variational Omni HOOD | 0.0000% | 8h | 121.69 | +0.053% | $2.3M | $1.1M | — | as long as short |
Polymarket Perps HOOD-USD
Aster HOODUSDT
Extended HOOD_24_5-USD
Binance HOODUSDT
OKX HOOD-USDT-SWAP
RISEx HOOD/USDC
Gate HOOD_USDT
Bitget HOODUSDT
Variational Omni HOODShow all 29 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT HOOD_USDT_Perp | 0.0000% | 8h | 121.61 | −0.019% | $850K | $2.0M | 10x | as long as short |
| Phemex HOODUSDT | 0.0000% | 8h | 121.60 | −0.025% | $995K | $8K | 10x | as long as short |
| QFEX HOOD-USD | +0.0024% | 1h | 121.61 | −0.016% | $1.3M | $3.8M | 10x | as long as short |
| Vest HOOD-USD-PERP | +0.0025% | 1h | 121.50 | −0.107% | — | $62K | 25x | as long as short |
| edgeX HOODUSDC | +0.0025% | 4h | 121.64 | +0.006% | $366K | $304K | 10x | as long as short |
| Arcus HOOD-USD | +0.0040% | 1h | 121.57 | −0.049% | $1.1M | $1.7M | 10x | as long as short |
| tradeXYZ xyz:HOOD | +0.0050% | 1h | 121.57 | −0.049% | $52.0M | $28.1M | 10x | as long as short |
| SoDEX HOOD-USD | +0.0050% | 1h | 121.56 | −0.056% | $732 | $4K | 10x | as long as short |
| Ondo Perps HOOD-USD.P | +0.0050% | 1h | 121.49 | −0.115% | $1.2M | $1.5M | 15x | as long as short |
| Lighter HOOD | +0.0056% | 1h | 121.59 | −0.031% | $2.8M | $3.1M | 10x | as long as short |
| Coinbase International HOOD-PERP-INTX | +0.0056% | 1h | 121.54 | −0.074% | $194K | $1.9M | 10x | as long as short |
| Deribit HOOD_USDC-PERPETUAL | +0.0079% | 1h | 121.58 | −0.041% | $7K | $68K | 10x | as long as short |
| Pacifica HOOD | +0.0100% | 1h | 121.60 | −0.027% | $68K | $109K | 10x | as long as short |
| KuCoin HOODUSDTM | +0.0100% | 8h | 121.59 | −0.033% | $1.3M | $1.2M | 20x | as long as short |
| ApeX Omni HOODUSDT | +0.0100% | 1h | 121.59 | −0.033% | $5K | $41K | 50x | as long as short |
| Orderly PERP_HOOD_USDC_mythos | +0.0100% | 8h | 121.57 | −0.049% | $2K | $2K | 10x | as long as short |
| Aevo HOOD-PERP | +0.0104% | 1h | 121.56 | −0.059% | $16K | — | 10x | as long as short |
| Phoenix HOODshort | +0.0197% | 1h | 121.59 | −0.033% | $28K | $239K | 10x | |
| Injective HOOD/USDC PERP | +0.0345% | 1h | 121.40 | −0.189% | $58K | $57K | 30x | as long as short |
GRVT HOOD_USDT_Perp
Phemex HOODUSDT
QFEX HOOD-USD
Vest HOOD-USD-PERP
edgeX HOODUSDC
Arcus HOOD-USD
tradeXYZ xyz:HOOD
SoDEX HOOD-USD
Ondo Perps HOOD-USD.P
Lighter HOOD
Coinbase International HOOD-PERP-INTX
Deribit HOOD_USDC-PERPETUAL
Pacifica HOOD
KuCoin HOODUSDTM
ApeX Omni HOODUSDT
Orderly PERP_HOOD_USDC_mythos
Aevo HOOD-PERP
Injective HOOD/USDC PERP