Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0701%/8h= −76.8% APRpaid last 24h −0.135%

Price spread now: Phemex against edgeX−0.020%78s7-day average +0.005% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.411%−$41 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.020%, 7d avg +0.005%

Together, before fees−0.407%+ Points / potential airdropedgeX: Active · farm board−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and Phemex is 0.025% cheaper against edgeX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.005%). Swap the legs. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.411% in total (about -21.4% 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	edgeX HOODUSDC	120.43	0.0701	pay 0.0351% / 4h	5m 48s	$362K	$303K	10x
Short	Phemex HOODUSDT	120.41	0	get 0.0000% / 8h	5m 48s	$985K	$8K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against edgeX. 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 edgeXbpFee PhemexbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$147.22
Price spread: −0.020% → +0.005%: −$2.49
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$170.71
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 33 min ago; Phemex: live order book, 17 min ago. Net counts fees only.

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 edgeX live order book, 33 min ago	6.63 bp	11.9 bp −$12	21.2 bp −$212	doesn't fit	doesn't fit
Sell Phemex live order book, 17 min ago	1.25 bp	doesn't fit	doesn't fit	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	120.22	−0.178%	$57K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0162%	8h	120.43	−0.004%	$598K	$7.6M	50x	as long as short
Bitget HOODUSDT	−0.0162%	8h	120.45	+0.013%	$5.5M	$9.9M	20x	as long as short
Polymarket Perps HOOD-USD	−0.0027%	1h	120.21	−0.186%	$251K	$345K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	120.42	−0.009%	$105K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.38	−0.044%	$358K	$2.2M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	120.41	−0.020%	$20.7M	$91.9M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.39	−0.037%	$3.7M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	120.36	−0.062%	$2.7M	$6.2M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	120.39	−0.038%	$2.2M	$1.0M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT HOOD_USDT_Perp	0.0000%	8h	120.42	−0.011%	$844K	$2.0M	10x	as long as short
Phemex HOODUSDTshort	0.0000%	8h	120.41	−0.020%	$985K	$8K	10x
Vest HOOD-USD-PERP	+0.0016%	1h	120.21	−0.186%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.32	−0.095%	$1.1M	$1.7M	10x	as long as short
QFEX HOOD-USD	+0.0046%	1h	120.41	−0.020%	$1.3M	$2.9M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	120.34	−0.079%	$51.1M	$26.9M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	120.37	−0.052%	$719	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.42	−0.012%	$1.3M	$1.4M	15x	as long as short
Lighter HOOD	+0.0064%	1h	120.39	−0.038%	$2.8M	$3.2M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	120.37	−0.054%	$74K	$111K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.43	−0.004%	$1.3M	$1.4M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.39	−0.037%	$5K	$40K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.38	−0.045%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.37	−0.055%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.42	−0.012%	$173K	$175K	20x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0166%	1h	120.38	−0.045%	$6K	$52K	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0192%	1h	120.33	−0.087%	$196K	$1.8M	10x	as long as short
Phoenix HOOD	+0.0265%	1h	120.43	−0.004%	$28K	$238K	10x	as long as short
RISEx HOOD/USDC	+0.0479%	1h	120.46	+0.021%	$417K	$1.4M	10x	as long as short
edgeX HOODUSDClong	+0.0701%	4h	120.43	long leg	$362K	$303K	10x