Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.029%

Price spread now: Injective against GRVT−2.135%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Funding pays, the price is against you. Injective is 2.135% cheaper against GRVT than usual: you would sell low and buy high (spread −2.135% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$213 on $10k: about 8 months of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BABA_USDT_Perp	118.37	0.0005	pay 0.0005% / 8h	3h 57m	$3K	$193K	10x
Short	Injective BABA/USDC PERP	115.84	0.0033	get 0.0004% / 1h	57m 01s	$11K	$26K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now −2.135%Rate

Funding earned: $5.95
Price spread: −2.135% → 0.000%: −$213.46
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$216.53
Costs to cover: 0.090%
Break-even: 261.7 days

Slippage unknown: GRVT: live order book, 60 min ago; Injective: 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 GRVT live order book, 60 min ago	2.93 bp	10.5 bp −$11	22.9 bp −$229	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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.

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	118.24	−0.107%	$70K	$35K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	118.32	−0.039%	$2.1M	$698K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	118.34	−0.022%	$1.5M	$1.9M	50x	as long as short
SunX BABA-USDT	0.0000%	8h	118.35	−0.014%	$882	$3.4M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	118.49	+0.104%	$30K	$18K	20x	as long as short
GRVT BABA_USDT_Perplong	+0.0005%	8h	118.37	long leg	$3K	$193K	10x
Lighter BABA	+0.0032%	1h	118.40	+0.028%	$377K	$73K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	118.32	−0.039%	$438K	$507K	10x	as long as short
Injective BABA/USDC PERPshort	+0.0033%	1h	115.84	−2.135%	$11K	$26K	12x
Arcus BABA-USD	+0.0040%	1h	118.29	−0.065%	$72K	$109K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest BABA-USD-PERP	+0.0046%	1h	118.36	−0.006%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	118.23	−0.115%	$11.9M	$4.2M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	118.28	−0.073%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.28	−0.073%	$238K	$406K	10x	as long as short
QFEX BABA-USD	+0.0056%	1h	118.34	−0.022%	$1.2M	$4.1M	10x	as long as short
Variational Omni BABA	+0.0058%	8h	118.29	−0.061%	$266K	$658K	—	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.24	−0.107%	$616K	$468K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	118.34	−0.022%	$2K	$798	10x	as long as short
Extended BABA_24_5-USD	+0.0136%	1h	118.30	−0.056%	$44K	$355K	10x	as long as short
Binance BABAUSDT	+0.0137%	8h	118.34	−0.021%	$15.6M	$30.4M	20x	as long as short
Phoenix BABA	+0.0201%	1h	118.34	−0.022%	$66K	$90K	10x	as long as short
Bitget BABAUSDT	+0.0450%	8h	118.32	−0.039%	$2.4M	$1.7M	20x	as long as short