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 −0.039%

Price spread now: KuCoin against Phoenix+0.033%63s7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1161.161% of the position

Long on Phoenix Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 4 days (all we have)−0.008%−$1 · spread now +0.033%, 7d avg −0.020%

Together, before fees−0.197%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.053% dearer against Phoenix than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.020%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.6 days. At the pace of the last 7 days (−0.190% in total) that is about 47 hours. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix HOOD	121.18	0.0132	pay 0.0016% / 1h	38m 20s	$27K	$238K	10x
Short	KuCoin HOODUSDTM	121.22	0.0100	get 0.0100% / 8h	3h 38m	$1.3M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$6.67
Price spread: +0.033% → −0.020%: $5.3
Slippage, 4 orders: −$97.1
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$117.47
Costs to cover: 1.161%
Break-even: never at this rate

Slippage from Phoenix: live order book, 9 min ago; KuCoin: live order book, 2 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, 9 min ago	2.47 bp	10.5 bp −$11	22.3 bp −$223	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.47 bp	34.8 bp −$35	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	120.89	−0.239%	$58K	$57K	30x	as long as short
Gate HOOD_USDT	−0.0108%	8h	121.25	+0.058%	$574K	$7.7M	50x	as long as short
Bitget HOODUSDT	−0.0037%	8h	121.24	+0.050%	$5.4M	$9.7M	20x	as long as short
Aster HOODUSDT	0.0000%	8h	121.17	−0.007%	$106K	$280K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	121.21	+0.021%	$357K	$1.4M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	121.22	+0.033%	$20.8M	$91.1M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	121.23	+0.041%	$3.9M	$8.7M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	121.23	+0.041%	$2.7M	$6.0M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	121.23	+0.037%	$383K	$1.4M	10x	as long as short
Variational Omni HOOD	0.0000%	8h	121.08	−0.079%	$2.3M	$1.1M	—	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	121.11	−0.061%	$847K	$2.0M	10x	as long as short
Phemex HOODUSDT	0.0000%	8h	121.21	+0.025%	$992K	$8K	10x	as long as short
Vest HOOD-USD-PERP	+0.0014%	1h	120.92	−0.215%	—	$63K	25x	as long as short
QFEX HOOD-USD	+0.0022%	1h	121.12	−0.050%	$1.3M	$3.4M	10x	as long as short
Arcus HOOD-USD	+0.0040%	1h	121.13	−0.041%	$1.1M	$1.7M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0050%	1h	121.15	−0.025%	$51.5M	$28.3M	10x	as long as short
Polymarket Perps HOOD-USD	+0.0050%	1h	121.02	−0.132%	$251K	$344K	10x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	121.17	−0.005%	$729	$4K	10x	as long as short
Ondo Perps HOOD-USD.P	+0.0050%	1h	120.95	−0.190%	$1.2M	$1.5M	15x	as long as short
edgeX HOODUSDC	+0.0093%	4h	121.12	−0.052%	$364K	$304K	10x	as long as short
Pacifica HOOD	+0.0100%	1h	121.21	+0.025%	$68K	$109K	10x	as long as short
KuCoin HOODUSDTMshort	+0.0100%	8h	121.22	+0.033%	$1.3M	$1.2M	20x
ApeX Omni HOODUSDT	+0.0100%	1h	121.14	−0.033%	$5K	$41K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	121.16	−0.017%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	121.16	−0.018%	$16K	—	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0120%	1h	121.10	−0.066%	$193K	$1.9M	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	121.20	+0.017%	$174K	$158K	20x	as long as short
Phoenix HOODlong	+0.0132%	1h	121.18	long leg	$27K	$238K	10x
Lighter HOOD	+0.0192%	1h	121.14	−0.031%	$2.8M	$3.2M	10x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.1072%	1h	121.20	+0.017%	$6K	$57K	10x	as long as short