Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.045%

Price spread now: Phoenix against GRVT−0.090%115s7-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 Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.303%+$30 on $10k

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. Phoenix is 0.090% cheaper against GRVT than usual: you would sell low and buy high (spread −0.090% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.5 days of funding at the current rate (+$3 a day). The two prices were read 115 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	GRVT BABA_USDT_Perp	117.26	0.0186	pay 0.0186% / 8h	7h 15m	$3K	$182K	10x
Short	Phoenix BABA	117.15	0.0273	get 0.0034% / 1h	15m 33s	$66K	$89K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.090%Rate

Funding earned: $18.3
Price spread: −0.090% → 0.000%: −$9.03
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$6.72
Costs to cover: 0.160%
Break-even: 9.6 days

Slippage unknown: GRVT: live order book, 17 min ago; Phoenix: 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, 17 min ago	2.56 bp	20.3 bp −$20	37.5 bp −$375	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	117.16	−0.081%	$68K	$41K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	117.31	+0.046%	$2.1M	$723K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	117.32	+0.055%	$1.5M	$1.9M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	117.30	+0.038%	$2.3M	$1.9M	20x	as long as short
SunX BABA-USDT	0.0000%	8h	117.31	+0.046%	$834	$2.7M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	117.29	+0.029%	$30K	$19K	20x	as long as short
Lighter BABA	+0.0032%	1h	117.34	+0.072%	$373K	$71K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	117.29	+0.029%	$436K	$494K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−1.207%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	117.25	−0.005%	$70K	$136K	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	117.17	−0.073%	—	$19K	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	117.12	−0.116%	$8K	$280K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	117.14	−0.099%	$231K	$411K	10x	as long as short
QFEX BABA-USD	+0.0080%	1h	117.29	+0.029%	$1.2M	$2.9M	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	117.16	−0.082%	$612K	$429K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	117.33	+0.063%	$2K	$798	10x	as long as short
tradeXYZ xyz:BABA	+0.0113%	1h	117.24	−0.014%	$12.0M	$4.6M	10x	as long as short
Variational Omni BABA	+0.0152%	8h	117.32	+0.053%	$337K	$664K	—	as long as short
GRVT BABA_USDT_Perplong	+0.0186%	8h	117.26	long leg	$3K	$182K	10x
Extended BABA_24_5-USD	+0.0200%	1h	117.33	+0.059%	$47K	$312K	10x	as long as short
Binance BABAUSDT	+0.0200%	8h	117.36	+0.087%	$15.4M	$31.0M	20x	as long as short
Phoenix BABAshort	+0.0273%	1h	117.15	−0.090%	$66K	$89K	10x