Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.020%

Price spread now: SoDEX against Phemex−0.058%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. SoDEX is 0.058% cheaper against Phemex than usual: you would sell low and buy high (spread −0.058% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 3.9 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex HOODUSDT	120.63	0	get 0.0000% / 8h	1h 37m	$987K	$9K	10x
Short	SoDEX HOOD-USD	120.56	0.0050	get 0.0006% / 1h	37m 41s	$720	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Phemex. 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 PhemexbpFee SoDEXbpOrdersPrice spread, now −0.058%Rate

Funding earned: $10.5
Price spread: −0.058% → 0.000%: −$5.8
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$15.3
Costs to cover: 0.200%
Break-even: 17.2 days

Slippage unknown: Phemex: live order book, 55 min ago; SoDEX: no order-book sample. 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 Phemex live order book, 55 min ago	2.07 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SoDEX no order-book sample	—	—	—	—	—

SoDEX: 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 PERP	−0.0392%	1h	120.80	+0.141%	$58K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0178%	8h	120.70	+0.058%	$599K	$7.7M	50x	as long as short
Bitget HOODUSDT	−0.0134%	8h	120.67	+0.033%	$5.4M	$10.0M	20x	as long as short
Aster HOODUSDT	0.0000%	8h	120.63	−0.004%	$105K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.60	−0.024%	$356K	$1.3M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	120.62	−0.011%	$20.8M	$92.3M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.60	−0.025%	$3.7M	$8.8M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	120.63	0.000%	$2.7M	$6.1M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	120.71	+0.065%	$2.3M	$1.0M	—	as long as short
GRVT HOOD_USDT_Perp	0.0000%	8h	120.71	+0.069%	$853K	$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 HOODUSDTlong	0.0000%	8h	120.63	long leg	$987K	$9K	10x
Vest HOOD-USD-PERP	+0.0015%	1h	120.42	−0.174%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.58	−0.041%	$1.1M	$1.7M	10x	as long as short
Polymarket Perps HOOD-USD	+0.0050%	1h	120.42	−0.174%	$250K	$344K	10x	as long as short
SoDEX HOOD-USDshort	+0.0050%	1h	120.56	−0.058%	$720	$4K	10x
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.58	−0.041%	$1.2M	$1.4M	15x	as long as short
QFEX HOOD-USD	+0.0062%	1h	120.58	−0.041%	$1.3M	$3.0M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0082%	1h	120.56	−0.058%	$6K	$52K	10x	as long as short
Lighter HOOD	+0.0088%	1h	120.60	−0.022%	$2.8M	$3.2M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	120.60	−0.028%	$67K	$106K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.65	+0.017%	$1.3M	$1.3M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.63	0.000%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.56	−0.058%	$2K	$2K	10x	as long as short
tradeXYZ xyz:HOOD	+0.0104%	1h	120.57	−0.050%	$51.2M	$27.8M	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.57	−0.051%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.74	+0.091%	$175K	$160K	20x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0184%	1h	120.60	−0.025%	$196K	$1.8M	10x	as long as short
Phoenix HOOD	+0.0198%	1h	120.79	+0.133%	$28K	$238K	10x	as long as short
RISEx HOOD/USDC	+0.0365%	1h	120.64	+0.008%	$373K	$1.4M	10x	as long as short
edgeX HOODUSDC	+0.0745%	4h	120.74	+0.090%	$363K	$303K	10x	as long as short