Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0023%/8hnext payment −$0.03 per $10,000 · paid last 24h −0.015%

Price spread now: Phoenix against Coinbase International+0.088%7-day average +0.149% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 3 days (all we have)−0.001%$0 · spread now +0.088%, 7d avg +0.149%

Together, before fees+0.061%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.061% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.149%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.062%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International HOOD-PERP-INTX	124.62	0.0280	pay 0.0035% / 1h	23m 01s	$419K	$1.5M	10x
Short	Phoenix HOOD	124.73	0.0257	get 0.0032% / 1h	23m 01s	$28K	$186K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.088%Rate

Funding earned: −$4.89
Price spread: +0.088% → +0.149%: −$6.1
Slippage, 4 orders: −$21.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$49.8
Costs to cover: 0.388%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Phoenix: live order book, 5 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, 5 min ago	3.61 bp	8.6 bp −$9	15.0 bp −$150	doesn't fit	doesn't fit
Sell Phoenix live order book, 5 min ago	3.21 bp	10.8 bp −$11	23.5 bp −$235	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
Arcus HOOD-USD	−0.0761%	1h	124.62	0.000%	$1.1M	$1.7M	10x	as long as short
Aster HOODUSDT	0.0000%	8h	124.66	+0.030%	$114K	$257K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	124.68	+0.048%	$421K	$1.2M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	124.67	+0.040%	$24.1M	$81.7M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	124.58	−0.032%	$4.1M	$8.2M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	124.68	+0.048%	$3.1M	$5.5M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	124.59	−0.024%	$419K	$1.5M	10x	as long as short
Gate HOOD_USDT	0.0000%	8h	124.61	−0.008%	$548K	$7.7M	50x	as long as short
Variational Omni HOOD	0.0000%	8h	124.71	+0.076%	$2.4M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	124.67	+0.041%	$872K	$2.4M	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	124.69	+0.056%	$1.0M	$8K	10x	as long as short
Polymarket Perps HOOD-USD	+0.0012%	1h	124.40	−0.177%	$253K	$275K	10x	as long as short
Vest HOOD-USD-PERP	+0.0046%	1h	124.53	−0.072%	—	$63K	25x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	124.66	+0.028%	$747	$3K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	124.49	−0.104%	$1.4M	$1.3M	15x	as long as short
QFEX HOOD-USD	+0.0051%	1h	124.56	−0.048%	$1.3M	$3.9M	10x	as long as short
Bitget HOODUSDT	+0.0057%	8h	124.70	+0.064%	$5.8M	$8.9M	20x	as long as short
Pacifica HOOD	+0.0100%	1h	124.55	−0.055%	$78K	$103K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	124.64	+0.016%	$1.3M	$1.1M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	124.63	+0.008%	$46K	$252K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	124.66	+0.032%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	124.64	+0.019%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	124.64	+0.016%	$192K	$119K	20x	as long as short
Lighter HOOD	+0.0208%	1h	124.69	+0.059%	$3.2M	$1.8M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0215%	1h	124.62	0.000%	$53.2M	$28.2M	10x	as long as short
Phoenix HOODshort	+0.0257%	1h	124.73	+0.088%	$28K	$186K	10x
Coinbase International HOOD-PERP-INTXlong	+0.0280%	1h	124.62	long leg	$419K	$1.5M	10x
edgeX HOODUSDC	+0.0307%	4h	124.69	+0.055%	$375K	$306K	10x	as long as short
Injective HOOD/USDC PERP	+0.0323%	1h	124.35	−0.217%	$64K	$50K	30x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0713%	1h	124.68	+0.048%	$6K	$180K	10x	as long as short