Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.031%

Price spread now: Lighter against OKX−0.076%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.215%+$22 on $10k

Price spread, last 7 days+0.123%+$12 · spread now −0.076%, 7d avg −0.035%

Together, before fees+0.338%+ Points / potential airdropLighter: Season 3 · farm board+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.041% cheaper against OKX than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of −0.035%). If the spread goes back, that is −$4 on $10k: about 4.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.215% in total) that is about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX HOOD-USDT-SWAP	121.54	0	get 0.0000% / 8h	4h 11m	$2.7M	$6.0M	20x
Short	Lighter HOOD	121.45	0.0032	get 0.0004% / 1h	11m 50s	$2.8M	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now −0.076%Rate

Funding earned: $6.72
Price spread: −0.076% → −0.035%: −$4.08
Slippage, 4 orders: −$17.15
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$24.51
Costs to cover: 0.272%
Break-even: 32.5 days

Slippage from OKX: live order book, 1 min ago; Lighter: 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 OKX live order book, 1 min ago	3.29 bp	13.6 bp −$14	26.4 bp −$264	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.66 bp	1.0 bp −$1	3.4 bp −$34	324.6 bp −$32.5K	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	121.28	−0.214%	$58K	$57K	30x	as long as short
Polymarket Perps HOOD-USD	−0.0104%	1h	121.30	−0.197%	$252K	$344K	10x	as long as short
Gate HOOD_USDT	−0.0062%	8h	121.54	0.000%	$577K	$7.8M	50x	as long as short
Aster HOODUSDT	0.0000%	8h	121.48	−0.053%	$106K	$280K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	121.49	−0.041%	$358K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	121.53	−0.010%	$20.9M	$90.9M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	121.50	−0.033%	$3.9M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAPlong	0.0000%	8h	121.54	long leg	$2.7M	$6.0M	20x
RISEx HOOD/USDC	0.0000%	1h	121.50	−0.029%	$396K	$1.4M	10x	as long as short
Bitget HOODUSDT	0.0000%	8h	121.56	+0.016%	$5.4M	$9.6M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni HOOD	0.0000%	8h	121.51	−0.022%	$2.3M	$1.1M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	121.52	−0.016%	$857K	$2.0M	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	121.53	−0.008%	$994K	$8K	10x	as long as short
Vest HOOD-USD-PERP	+0.0017%	1h	121.30	−0.197%	—	$63K	25x	as long as short
QFEX HOOD-USD	+0.0029%	1h	121.48	−0.049%	$1.3M	$3.6M	10x	as long as short
Lighter HOODshort	+0.0032%	1h	121.45	−0.076%	$2.8M	$3.1M	10x
Arcus HOOD-USD	+0.0040%	1h	121.43	−0.091%	$1.1M	$1.7M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	121.45	−0.074%	$51.7M	$28.3M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	121.49	−0.044%	$734	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	121.37	−0.140%	$1.2M	$1.5M	15x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0096%	1h	121.10	−0.362%	$193K	$1.9M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	121.47	−0.055%	$68K	$105K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	121.54	0.000%	$1.3M	$1.2M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	121.48	−0.049%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	121.47	−0.058%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	121.46	−0.065%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	121.52	−0.016%	$174K	$161K	20x	as long as short
Phoenix HOOD	+0.0132%	1h	121.41	−0.107%	$27K	$238K	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0656%	1h	121.49	−0.041%	$6K	$56K	10x	as long as short
edgeX HOODUSDC	+0.0768%	4h	121.50	−0.037%	$366K	$306K	10x	as long as short