Funding you earn now, next payment 00:00 UTC+0.0149%/8h= +16.3% APRpaid last 24h +0.005%
Price spread now: Phoenix against Binance−0.004%105s7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$12as 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−$380.379% of the position
Funding, last 7 days+0.254%+$25 on $10k
+Price spread, last 2 days (all we have)−0.034%−$3 · spread now −0.004%, 7d avg −0.016%
=The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate. The two prices were read 105 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 | Binance BABAUSDT | 116.74 | 0.0195 | pay 0.0195% / 8h | 7h 11m | $15.4M | $22.2M | 20x |
| Short | Phoenix BABA | 116.74 | 0.0343 | get 0.0043% / 1h | 11m 50s | $65K | $133K | 10x |
Binance BABAUSDT
Phoenix BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Binance. 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
- $31.25
- Price spread: −0.004% → −0.016%
- $1.22
- Slippage, 4 orders
- −$20.86
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$5.39
- Costs to cover
- 0.379%
- Break-even
- 8.2 days
Slippage from Binance: live order book, 14 min ago; Phoenix: live order book, 54 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 Binance live order book, 14 min ago | 0.86 bp | 9.6 bp −$10 | 22.5 bp −$225 | 89.8 bp −$8,977 | doesn't fit |
| Sell Phoenix live order book, 54 min ago | 2.58 bp | 10.5 bp −$10 | 21.8 bp −$218 | doesn't fit | doesn't fit |
BABA on 22 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 | |
|---|---|---|---|---|---|---|---|---|
| Aster BABAUSDT | 0.0000% | 8h | 116.66 | −0.072% | $76K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.72 | −0.021% | $2.2M | $582K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.75 | +0.005% | $1.4M | $1.6M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.74 | −0.004% | $2.5M | $1.3M | 20x | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 116.72 | −0.024% | $3K | $233K | 10x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.72 | −0.021% | $740 | $4.1M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.58 | −0.141% | $37K | $2K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 116.85 | +0.091% | $386K | $50K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.73 | −0.012% | $424K | $511K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.775% | $11K | $26K | 12x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
GRVT BABA_USDT_Perp
SunX BABA-USDT
HTX BABA-USDT
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.74 | −0.004% | — | $18K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 116.70 | −0.038% | $12.1M | $2.9M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 116.63 | −0.098% | $10K | $264K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.64 | −0.089% | $234K | $353K | 10x | as long as short |
| QFEX BABA-USD | +0.0072% | 1h | 116.69 | −0.046% | $1.2M | $5.1M | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.59 | −0.132% | $606K | $542K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.72 | −0.021% | $2K | $798 | 10x | as long as short |
| Variational Omni BABA | +0.0134% | 8h | 116.72 | −0.019% | $302K | $619K | — | as long as short |
| Extended BABA_24_5-USD | +0.0192% | 1h | 116.70 | −0.037% | $46K | $365K | 10x | as long as short |
| Binance BABAUSDTlong | +0.0195% | 8h | 116.74 | long leg | $15.4M | $22.2M | 20x | |
| Phoenix BABAshort | +0.0343% | 1h | 116.74 | −0.004% | $65K | $133K | 10x | |
| Arcus BABA-USD | +0.0626% | 1h | 116.69 | −0.046% | $75K | $100K | 10x | as long as short |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Variational Omni BABA
Extended BABA_24_5-USD
Arcus BABA-USD