Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0047%/8h= +5.1% APRpaid last 24h +0.016%

Price spread now: QFEX against HTX−0.077%7-day average — · you buy dearer than you sell

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

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. QFEX is 0.077% cheaper against HTX than usual: you would sell low and buy high (spread −0.077% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 5.5 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BABA-USDT	116.58	0	get 0.0000% / 8h	7h 59m	$37K	$2K	20x
Short	QFEX BABA-USD	116.49	0.0047	get 0.0006% / 1h	59m 14s	$1.2M	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now −0.077%Rate

Funding earned: $9.78
Price spread: −0.077% → 0.000%: −$7.72
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$19.94
Costs to cover: 0.220%
Break-even: 21.3 days

Slippage unknown: HTX: no order-book sample; QFEX: live order book, 4 min ago. 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 HTX no order-book sample	—	—	—	—	—
Sell QFEX live order book, 4 min ago	2.15 bp	7.1 bp −$7	8.8 bp −$88	doesn't fit	doesn't fit

HTX: 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	116.44	−0.118%	$75K	$27K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	116.49	−0.077%	$2.2M	$580K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	116.52	−0.051%	$1.4M	$1.6M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	116.52	−0.051%	$2.5M	$1.3M	20x	as long as short
SunX BABA-USDT	0.0000%	8h	116.53	−0.043%	$549	$4.2M	20x	as long as short
HTX BABA-USDTlong	0.0000%	8h	116.58	long leg	$37K	$2K	20x
Lighter RH BABA	+0.0032%	1h	116.52	−0.051%	$444K	$479K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−0.635%	$11K	$26K	12x	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	116.39	−0.163%	—	$9K	10x	as long as short
QFEX BABA-USDshort	+0.0047%	1h	116.49	−0.077%	$1.2M	$5.2M	10x

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Polymarket Perps BABA-USD	+0.0050%	1h	116.40	−0.154%	$10K	$264K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	116.14	−0.377%	$243K	$354K	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	116.43	−0.129%	$604K	$567K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	116.49	−0.077%	$2K	$798	10x	as long as short
GRVT BABA_USDT_Perp	+0.0130%	8h	116.49	−0.074%	$2K	$245K	10x	as long as short
Variational Omni BABA	+0.0132%	8h	116.51	−0.061%	$301K	$619K	—	as long as short
tradeXYZ xyz:BABA	+0.0197%	1h	116.42	−0.137%	$12.1M	$3.1M	10x	as long as short
Binance BABAUSDT	+0.0208%	8h	116.57	−0.009%	$15.4M	$22.0M	20x	as long as short
Extended BABA_24_5-USD	+0.0208%	1h	116.52	−0.047%	$42K	$380K	10x	as long as short
Phoenix BABA	+0.0276%	1h	116.48	−0.086%	$65K	$133K	10x	as long as short
Arcus BABA-USD	+0.0394%	1h	116.49	−0.077%	$75K	$101K	10x	as long as short
Lighter BABA	+0.0728%	1h	116.65	+0.060%	$385K	$49K	10x	as long as short