Funding arb · Price arb /

HOOD

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0050%/8hpaid last 24h +0.004%

Price spread now: Ondo Perps against Variational Omni−0.140%51s7-day average −0.116% · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.004%$0 on $10k

Price spread, last 7 days−0.124%−$12 · spread now −0.140%, 7d avg −0.116%

Together, before fees−0.120%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.023% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of −0.116%). If the spread goes back, that is −$2 on $10k: about 37 hours of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.004% in total) that is about 16 days. The two prices were read 51 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	Variational Omni HOOD	124.71	0	get 0.0000% / 8h	4h 21m	$2.4M	$1.0M	—
Short	Ondo Perps HOOD-USD.P	124.54	0.0050	get 0.0006% / 1h	21m 49s	$1.4M	$1.3M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee Ondo PerpsbpOrdersPrice spread, now −0.140%Rate

Funding earned: $10.58
Price spread: −0.140% → −0.116%: −$2.34
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $3.24
Costs to cover: 0.050%
Break-even: 4.9 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Ondo Perps: 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 Variational Omni RFQ quote, 2 min ago	4.05 bp	doesn't fit	30.9 bp −$309	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Arcus HOOD-USD	−0.0761%	1h	124.57	−0.116%	$1.1M	$1.7M	10x	as long as short
Aster HOODUSDT	0.0000%	8h	124.70	−0.008%	$114K	$257K	20x	as long as short
Extended HOOD_24_5-USD	0.0000%	1h	124.68	−0.031%	$421K	$1.2M	10x	as long as short
Binance HOODUSDT	0.0000%	8h	124.62	−0.073%	$24.1M	$81.7M	20x	as long as short
Bybit HOODUSDT	0.0000%	8h	124.60	−0.092%	$4.1M	$8.2M	25x	as long as short
OKX HOOD-USDT-SWAP	0.0000%	8h	124.64	−0.060%	$3.1M	$5.5M	20x	as long as short
RISEx HOOD/USDC	0.0000%	1h	124.61	−0.086%	$419K	$1.5M	10x	as long as short
Gate HOOD_USDT	0.0000%	8h	124.62	−0.076%	$548K	$7.7M	50x	as long as short
Variational Omni HOODlong	0.0000%	8h	124.71	long leg	$2.4M	$1.0M	—
GRVT HOOD_USDT_Perp	0.0000%	8h	124.67	−0.034%	$872K	$2.4M	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex HOODUSDT	0.0000%	8h	124.64	−0.060%	$1.0M	$9K	10x	as long as short
Polymarket Perps HOOD-USD	+0.0012%	1h	124.40	−0.252%	$253K	$275K	10x	as long as short
Vest HOOD-USD-PERP	+0.0046%	1h	124.55	−0.132%	—	$63K	25x	as long as short
SoDEX HOOD-USD	+0.0050%	1h	124.61	−0.080%	$747	$3K	10x	as long as short
Ondo Perps HOOD-USD.Pshort	+0.0050%	1h	124.54	−0.140%	$1.4M	$1.3M	15x
QFEX HOOD-USD	+0.0051%	1h	124.59	−0.100%	$1.3M	$3.9M	10x	as long as short
Bitget HOODUSDT	+0.0058%	8h	124.63	−0.068%	$5.8M	$8.9M	20x	as long as short
Pacifica HOOD	+0.0100%	1h	124.58	−0.105%	$78K	$103K	10x	as long as short
KuCoin HOODUSDTM	+0.0100%	8h	124.64	−0.060%	$1.3M	$1.1M	20x	as long as short
ApeX Omni HOODUSDT	+0.0100%	1h	124.63	−0.068%	$46K	$252K	50x	as long as short
Orderly PERP_HOOD_USDC_mythos	+0.0100%	8h	124.65	−0.052%	$2K	$2K	10x	as long as short
Aevo HOOD-PERP	+0.0104%	1h	124.64	−0.056%	$16K	—	10x	as long as short
BloFin HOOD-USDT	+0.0120%	8h	124.64	−0.060%	$192K	$119K	20x	as long as short
Lighter HOOD	+0.0208%	1h	124.65	−0.052%	$3.2M	$1.8M	10x	as long as short
tradeXYZ xyz:HOOD	+0.0212%	1h	124.59	−0.100%	$53.2M	$28.2M	10x	as long as short
Phoenix HOOD	+0.0257%	1h	124.73	+0.013%	$28K	$186K	10x	as long as short
Coinbase International HOOD-PERP-INTX	+0.0280%	1h	124.62	−0.076%	$419K	$1.6M	10x	as long as short
edgeX HOODUSDC	+0.0307%	4h	124.69	−0.020%	$375K	$306K	10x	as long as short
Injective HOOD/USDC PERP	+0.0323%	1h	124.35	−0.292%	$64K	$50K	30x	as long as short
Deribit HOOD_USDC-PERPETUAL	+0.0472%	1h	124.66	−0.044%	$6K	$180K	10x	as long as short