Funding you earn now, next payment 04:00 UTC−0.0082%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h −0.074%
Price spread now: Polymarket Perps against Phoenix−0.272%59s7-day average −0.140% · you buy dearer than you sell
Net, funding: paid 7d − costs−$76as 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−$360.360% of the position
Funding, last 7 days−0.402%−$40 on $10k
+Price spread, last 4 days (all we have)+0.145%+$14 · spread now −0.272%, 7d avg −0.140%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Polymarket Perps is 0.132% cheaper against Phoenix than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.140%). Swap the legs. The two prices were read 59 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 | 14m 20s | $28K | $238K | 10x |
| Short | Polymarket Perps HOOD-USD | 120.85 | 0.0050 | get 0.0006% / 1h | 14m 20s | $251K | $344K | 10x |
Phoenix HOOD
Polymarket Perps HOOD-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$17.17
- Price spread: −0.272% → −0.140%
- −$13.23
- Slippage, 4 orders
- −$21.02
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$66.42
- Costs to cover
- 0.360%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 33 min ago; Polymarket Perps: live order book, 38 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, 33 min ago | 2.47 bp | 10.5 bp −$11 | 22.3 bp −$223 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 38 min ago | 3.30 bp | 7.7 bp −$8 | 8.5 bp −$85 | 10.1 bp −$1,006 | 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 | 120.88 | −0.248% | $58K | $57K | 30x | as long as short |
| Gate HOOD_USDT | −0.0130% | 8h | 121.09 | −0.074% | $572K | $7.7M | 50x | as long as short |
| Bitget HOODUSDT | −0.0108% | 8h | 121.11 | −0.058% | $5.4M | $9.7M | 20x | as long as short |
| Aster HOODUSDT | 0.0000% | 8h | 121.05 | −0.105% | $106K | $280K | 20x | as long as short |
| Extended HOOD_24_5-USD | 0.0000% | 1h | 121.03 | −0.128% | $360K | $1.4M | 10x | as long as short |
| Binance HOODUSDT | 0.0000% | 8h | 121.06 | −0.099% | $20.8M | $91.2M | 20x | as long as short |
| Bybit HOODUSDT | 0.0000% | 8h | 121.12 | −0.050% | $3.9M | $8.7M | 25x | as long as short |
| OKX HOOD-USDT-SWAP | 0.0000% | 8h | 121.02 | −0.132% | $2.7M | $6.0M | 20x | as long as short |
| RISEx HOOD/USDC | 0.0000% | 1h | 121.09 | −0.075% | $383K | $1.4M | 10x | as long as short |
| Variational Omni HOOD | 0.0000% | 8h | 121.17 | −0.009% | $2.3M | $1.1M | — | as long as short |
Injective HOOD/USDC PERP
Gate HOOD_USDT
Bitget HOODUSDT
Aster HOODUSDT
Extended HOOD_24_5-USD
Binance HOODUSDT
Bybit HOODUSDT
OKX HOOD-USDT-SWAP
RISEx HOOD/USDC
Variational Omni HOODShow all 30 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT HOOD_USDT_Perp | 0.0000% | 8h | 121.21 | +0.025% | $850K | $2.0M | 10x | as long as short |
| Phemex HOODUSDT | 0.0000% | 8h | 121.16 | −0.017% | $991K | $9K | 10x | as long as short |
| Vest HOOD-USD-PERP | +0.0016% | 1h | 120.84 | −0.281% | — | $63K | 25x | as long as short |
| QFEX HOOD-USD | +0.0022% | 1h | 121.03 | −0.124% | $1.3M | $3.2M | 10x | as long as short |
| Arcus HOOD-USD | +0.0040% | 1h | 121.08 | −0.083% | $1.1M | $1.7M | 10x | as long as short |
| tradeXYZ xyz:HOOD | +0.0050% | 1h | 120.98 | −0.165% | $51.3M | $28.4M | 10x | as long as short |
| Polymarket Perps HOOD-USDshort | +0.0050% | 1h | 120.85 | −0.272% | $251K | $344K | 10x | |
| SoDEX HOOD-USD | +0.0050% | 1h | 121.11 | −0.059% | $727 | $4K | 10x | as long as short |
| Ondo Perps HOOD-USD.P | +0.0050% | 1h | 121.08 | −0.083% | $1.2M | $1.5M | 15x | as long as short |
| Deribit HOOD_USDC-PERPETUAL | +0.0081% | 1h | 121.06 | −0.099% | $6K | $54K | 10x | as long as short |
| Pacifica HOOD | +0.0100% | 1h | 121.09 | −0.076% | $67K | $107K | 10x | as long as short |
| KuCoin HOODUSDTM | +0.0100% | 8h | 121.09 | −0.074% | $1.3M | $1.2M | 20x | as long as short |
| ApeX Omni HOODUSDT | +0.0100% | 1h | 121.07 | −0.091% | $5K | $41K | 50x | as long as short |
| Orderly PERP_HOOD_USDC_mythos | +0.0100% | 8h | 121.05 | −0.107% | $2K | $2K | 10x | as long as short |
| Aevo HOOD-PERP | +0.0104% | 1h | 121.01 | −0.143% | $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 | 121.15 | −0.025% | $174K | $159K | 20x | as long as short |
| Phoenix HOODlong | +0.0132% | 1h | 121.18 | long leg | $28K | $238K | 10x | |
| Lighter HOOD | +0.0184% | 1h | 121.04 | −0.116% | $2.8M | $3.2M | 10x | as long as short |
| edgeX HOODUSDC | +0.0593% | 4h | 121.22 | +0.030% | $365K | $305K | 10x | as long as short |
GRVT HOOD_USDT_Perp
Phemex HOODUSDT
Vest HOOD-USD-PERP
QFEX HOOD-USD
Arcus HOOD-USD
tradeXYZ xyz:HOOD
SoDEX HOOD-USD
Ondo Perps HOOD-USD.P
Deribit HOOD_USDC-PERPETUAL
Pacifica HOOD
KuCoin HOODUSDTM
ApeX Omni HOODUSDT
Orderly PERP_HOOD_USDC_mythos
Aevo HOOD-PERP
Coinbase International HOOD-PERP-INTX
BloFin HOOD-USDT
Lighter HOOD
edgeX HOODUSDC