Funding arb · Price arb /

HOOD

RWAall HOOD markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0436%/8h= +47.7% APRpaid last 24h +0.069%

Price spread now: edgeX against Phoenix+0.004%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.404%+$40 · spread now +0.004%, 7d avg +0.010%

Together, before fees+0.537%+ Points / potential airdropedgeX: Active · farm board+$54 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.133% in total (about 6.9% 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	Phoenix HOOD	120.43	0.0265	pay 0.0033% / 1h	7m 54s	$28K	$238K	10x
Short	edgeX HOODUSDC	120.43	0.0701	get 0.0351% / 4h	7m 54s	$362K	$303K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phoenix. 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 PhoenixbpFee edgeXbpOrdersPrice spread, now +0.004%Rate

Funding earned: $91.52
Price spread: +0.004% → +0.010%: −$0.65
Slippage, 4 orders: −$33.69
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $41.18
Costs to cover: 0.497%
Break-even: 3.8 days

Slippage from Phoenix: live order book, 25 min ago; edgeX: live order book, 30 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 Phoenix live order book, 25 min ago	4.15 bp	13.0 bp −$13	28.5 bp −$285	doesn't fit	doesn't fit
Sell edgeX live order book, 30 min ago	6.63 bp	11.7 bp −$12	20.9 bp −$209	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	−0.174%	$57K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0162%	8h	120.45	+0.017%	$598K	$7.6M	50x	as long as short
Bitget HOODUSDT	−0.0157%	8h	120.42	−0.008%	$5.5M	$9.9M	20x	as long as short
Polymarket Perps HOOD-USD	−0.0024%	1h	120.20	−0.191%	$251K	$345K	10x	as long as short
Aster HOODUSDT	0.0000%	8h	120.42	−0.007%	$105K	$281K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	120.36	−0.056%	$358K	$2.2M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	120.36	−0.058%	$20.7M	$91.9M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	120.38	−0.042%	$3.7M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	120.36	−0.058%	$2.7M	$6.2M	20x	as long as short
Variational Omni HOOD	0.0000%	8h	120.42	−0.008%	$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	−0.007%	$844K	$2.0M	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	120.43	0.000%	$985K	$8K	10x	as long as short
Vest HOOD-USD-PERP	+0.0017%	1h	120.22	−0.174%	—	$63K	25x	as long as short
Arcus HOOD-USD	+0.0040%	1h	120.35	−0.066%	$1.1M	$1.7M	10x	as long as short
QFEX HOOD-USD	+0.0046%	1h	120.39	−0.033%	$1.3M	$2.9M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	120.33	−0.083%	$51.1M	$26.9M	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	120.38	−0.040%	$719	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.42	−0.008%	$1.3M	$1.4M	15x	as long as short
Lighter HOOD	+0.0072%	1h	120.39	−0.035%	$2.8M	$3.2M	10x	as long as short
Pacifica HOOD	+0.0100%	1h	120.37	−0.048%	$74K	$111K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	120.42	−0.008%	$1.3M	$1.4M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	120.39	−0.033%	$5K	$40K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	120.40	−0.025%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	120.36	−0.060%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	120.43	0.000%	$173K	$175K	20x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0166%	1h	120.37	−0.050%	$6K	$52K	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0192%	1h	120.33	−0.083%	$196K	$1.8M	10x	as long as short
Phoenix HOODlong	+0.0265%	1h	120.43	long leg	$28K	$238K	10x
RISEx HOOD/USDC	+0.0479%	1h	120.45	+0.021%	$402K	$1.4M	10x	as long as short
edgeX HOODUSDCshort	+0.0701%	4h	120.43	+0.004%	$362K	$303K	10x