Funding you earn now, next payment 22:00 UTC+0.0276%/8h= +30.2% APRpaid last 24h +0.071%
Price spread now: Phoenix against Bybit−0.052%65s7-day average −0.016% · you buy dearer than you sell
Net, funding: paid 7d − costs−$11as 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−$560.560% of the position
Funding, last 7 days+0.452%+$45 on $10k
+Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.052%, 7d avg −0.016%
=Funding pays, the price is against you. Phoenix is 0.036% cheaper against Bybit than usual: you would sell low and buy high (spread −0.052% now, against its 7-day average of −0.016%). If the spread goes back, that is −$4 on $10k: about 10 hours of funding at the current rate (+$8 a day). The two prices were read 65 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 | Bybit BABAUSDT | 116.00 | 0 | get 0.0000% / 8h | 1h 34m | $2.2M | $612K | 25x |
| Short | Phoenix BABA | 115.94 | 0.0276 | get 0.0034% / 1h | 34m 20s | $79K | $129K | 10x |
Bybit BABAUSDT
Phoenix BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- $57.95
- Price spread: −0.052% → −0.016%
- −$3.59
- Slippage, 4 orders
- −$38.01
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$1.65
- Costs to cover
- 0.560%
- Break-even
- 7.2 days
Slippage from Bybit: live order book, 2 min ago; Phoenix: live order book, 41 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 Bybit live order book, 2 min ago | 2.59 bp | 15.3 bp −$15 | 117.5 bp −$1,175 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 41 min ago | 2.58 bp | 10.5 bp −$10 | 21.9 bp −$219 | 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 | 116.00 | 0.000% | $75K | $27K | 20x | as long as short |
| Bybit BABAUSDTlong | 0.0000% | 8h | 116.00 | long leg | $2.2M | $612K | 25x | |
| Gate BABA_USDT | 0.0000% | 8h | 115.97 | −0.026% | $1.4M | $1.7M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.00 | 0.000% | $2.5M | $1.3M | 20x | as long as short |
| Variational Omni BABA | 0.0000% | 8h | 115.96 | −0.033% | $300K | $620K | — | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 115.97 | −0.024% | $3K | $258K | 10x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 115.98 | −0.017% | $900 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.02 | +0.017% | $37K | $2K | 20x | as long as short |
| Binance BABAUSDT | +0.0005% | 8h | 115.98 | −0.016% | $15.3M | $21.1M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0008% | 1h | 115.96 | −0.033% | $42K | $383K | 10x | as long as short |
Aster BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
Variational Omni BABA
GRVT BABA_USDT_Perp
SunX BABA-USDT
HTX BABA-USDT
Binance BABAUSDT
Extended BABA_24_5-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter BABA | +0.0032% | 1h | 116.08 | +0.069% | $384K | $49K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 115.98 | −0.017% | $446K | $590K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.138% | $11K | $26K | 12x | as long as short |
| QFEX BABA-USD | +0.0035% | 1h | 115.95 | −0.043% | $1.2M | $5.1M | 10x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 115.95 | −0.043% | — | $9K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 115.93 | −0.060% | $12.1M | $3.0M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 115.89 | −0.095% | $10K | $263K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 115.75 | −0.216% | $249K | $336K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 115.90 | −0.086% | $601K | $644K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 115.96 | −0.034% | $2K | $1K | 10x | as long as short |
| Phoenix BABAshort | +0.0276% | 1h | 115.94 | −0.052% | $79K | $129K | 10x | |
| Arcus BABA-USD | +0.0462% | 1h | 115.98 | −0.017% | $79K | $93K | 10x | as long as short |
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERP
QFEX BABA-USD
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Arcus BABA-USD