Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0440%/8h= +48.2% APRpaid last 24h −0.003%

Price spread now: Binance against Injective+0.241%97s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.299%+$30 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Binance is 0.241% dearer against Injective than usual: you sell high and buy low: +$24 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 97 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 0.299% in total (about 15.6% 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	Injective HOOD/USDC PERP	120.38	−0.0440	get 0.0055% / 1h	53m 43s	$57K	$57K	30x
Short	Binance HOODUSDT	120.67	0	get 0.0000% / 8h	53m 43s	$20.8M	$92.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +0.241%Rate

Funding earned: $92.4
Price spread: +0.241% → 0.000%: $24.09
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $106.47
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Binance: live order book, 4 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 4 min ago	0.83 bp	8.1 bp −$8	15.9 bp −$159	56.4 bp −$5,638	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 PERPlong	−0.0440%	1h	120.38	long leg	$57K	$57K	30x
Gate HOOD_USDT	−0.0175%	8h	120.69	+0.258%	$600K	$7.6M	50x	as long as short
Bitget HOODUSDT	−0.0103%	8h	120.74	+0.299%	$5.5M	$10.0M	20x	as long as short
Polymarket Perps HOOD-USD	−0.0021%	1h	120.50	+0.100%	$251K	$345K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	120.69	+0.257%	$105K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.63	+0.205%	$356K	$2.2M	10x	as long as short
Binance HOODUSDTshort	0.0000%	8h	120.67	+0.241%	$20.8M	$92.2M	20x
Bybit HOODUSDT	0.0000%	8h	120.66	+0.233%	$3.7M	$8.8M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	120.71	+0.274%	$2.7M	$6.2M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	120.67	+0.239%	$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	120.68	+0.249%	$849K	$2.0M	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	120.66	+0.233%	$987K	$8K	10x	as long as short
Vest HOOD-USD-PERP	+0.0019%	1h	120.47	+0.075%	—	$63K	25x	as long as short
Lighter HOOD	+0.0040%	1h	120.65	+0.225%	$2.8M	$3.2M	10x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.60	+0.183%	$1.1M	$1.7M	10x	as long as short
QFEX HOOD-USD	+0.0046%	1h	120.71	+0.274%	$1.3M	$2.9M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	120.58	+0.166%	$51.2M	$27.0M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	120.59	+0.174%	$722	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.59	+0.174%	$1.2M	$1.4M	15x	as long as short
Pacifica HOOD	+0.0100%	1h	120.68	+0.250%	$74K	$111K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.68	+0.249%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.60	+0.183%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.66	+0.233%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.62	+0.196%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.74	+0.299%	$174K	$166K	20x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0192%	1h	120.67	+0.241%	$197K	$1.8M	10x	as long as short
Phoenix HOOD	+0.0198%	1h	120.65	+0.224%	$28K	$238K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0330%	1h	120.69	+0.258%	$6K	$52K	10x	as long as short
RISEx HOOD/USDC	+0.0479%	1h	120.78	+0.329%	$397K	$1.4M	10x	as long as short
edgeX HOODUSDC	+0.0833%	4h	120.68	+0.252%	$363K	$303K	10x	as long as short