Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0318%/8h= −34.8% APRpaid last 24h −0.031%

Price spread now: Bitget against Coinbase International+0.831%7-day average +0.194% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs+$24as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.128%−$13 on $10k

Price spread, last 4 days (all we have)−0.817%−$82 · spread now +0.831%, 7d avg +0.194%

Together, before fees−0.945%−$94 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.637% dearer against Coinbase International than usual: you sell high and buy low (spread +0.831% now, against its 7-day average of +0.194%): +$64 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 6.7 days. At the pace of the last 7 days (−0.128% in total) that is about 35 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.128% in total (about -6.7% 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	Coinbase International HOOD-PERP-INTX	120.34	0.0184	pay 0.0023% / 1h	4m 57s	$192K	$1.8M	10x
Short	Bitget HOODUSDT	121.34	−0.0134	pay 0.0134% / 8h	2h 04m	$5.5M	$9.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now +0.831%Rate

Funding earned: −$66.78
Price spread: +0.831% → +0.194%: $63.73
Slippage, 4 orders: −$17.85
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$42.9
Costs to cover: 0.399%
Break-even: from the start

Slippage from Coinbase International: live order book, 4 min ago; Bitget: 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 Coinbase International live order book, 4 min ago	2.47 bp	7.5 bp −$7	11.3 bp −$113	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	1.65 bp	11.4 bp −$11	34.4 bp −$344	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	120.56	+0.183%	$57K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0166%	8h	121.37	+0.856%	$604K	$7.7M	50x	as long as short
Bitget HOODUSDTshort	−0.0134%	8h	121.34	+0.831%	$5.5M	$9.9M	20x
Aster HOODUSDT	0.0000%	8h	121.21	+0.727%	$106K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	121.26	+0.761%	$357K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	121.29	+0.789%	$20.9M	$92.3M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	121.27	+0.773%	$3.7M	$8.9M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	121.25	+0.756%	$2.7M	$6.2M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	121.37	+0.855%	$2.3M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	121.40	+0.881%	$849K	$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	121.29	+0.789%	$992K	$9K	10x	as long as short
Vest HOOD-USD-PERP	+0.0012%	1h	121.11	+0.640%	—	$63K	25x	as long as short
Polymarket Perps HOOD-USD	+0.0025%	1h	121.16	+0.681%	$251K	$344K	10x	as long as short
Arcus HOOD-USD	+0.0040%	1h	121.23	+0.740%	$1.1M	$1.7M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	121.24	+0.748%	$51.5M	$28.1M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	121.26	+0.764%	$724	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	121.28	+0.781%	$1.2M	$1.4M	15x	as long as short
QFEX HOOD-USD	+0.0053%	1h	121.32	+0.814%	$1.3M	$3.0M	10x	as long as short
Lighter HOOD	+0.0064%	1h	121.28	+0.779%	$2.8M	$3.2M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	121.28	+0.783%	$68K	$105K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	121.27	+0.773%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	121.22	+0.731%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	121.28	+0.781%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	121.28	+0.783%	$16K	—	10x	as long as short
RISEx HOOD/USDC	+0.0109%	1h	121.41	+0.889%	$379K	$1.5M	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	121.39	+0.873%	$173K	$159K	20x	as long as short
Phoenix HOOD	+0.0132%	1h	121.27	+0.773%	$28K	$238K	10x	as long as short
Coinbase International HOOD-PERP-INTXlong	+0.0184%	1h	120.34	long leg	$192K	$1.8M	10x
Deribit HOOD_USDC-PERPETUAL	+0.0740%	1h	121.34	+0.831%	$6K	$54K	10x	as long as short
edgeX HOODUSDC	+0.0905%	4h	121.38	+0.866%	$365K	$304K	10x	as long as short