Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0103%/8h= +11.3% APRpaid last 24h +0.046%

Price spread now: Phoenix against KuCoin−0.528%48s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.233%+$23 on $10k

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. Phoenix is 0.528% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.528% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$53 on $10k: about 17 days of funding at the current rate (+$3 a day). The two prices were read 48 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	KuCoin BABAUSDTM	119.35	0.0100	pay 0.0100% / 8h	5h 10m	$622K	$507K	20x
Short	Phoenix BABA	118.72	0.0203	get 0.0025% / 1h	10m 36s	$66K	$68K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now −0.528%Rate

Funding earned: $21.72
Price spread: −0.528% → 0.000%: −$52.79
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$50.07
Costs to cover: 0.190%
Break-even: 23.1 days

Slippage unknown: KuCoin: live order book, 13 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 KuCoin live order book, 13 min ago	31.54 bp	84.7 bp −$85	doesn't fit	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	119.36	+0.005%	$78K	$28K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	119.49	+0.117%	$2.2M	$643K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	119.42	+0.059%	$1.5M	$1.8M	50x	as long as short
GRVT BABA_USDT_Perp	0.0000%	8h	118.96	−0.324%	$3K	$218K	10x	as long as short
SunX BABA-USDT	0.0000%	8h	119.43	+0.067%	$818	$3.6M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	118.90	−0.377%	$30K	$18K	20x	as long as short
Lighter BABA	+0.0032%	1h	119.42	+0.059%	$381K	$72K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	119.39	+0.034%	$430K	$507K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.941%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	119.10	−0.209%	$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	119.52	+0.142%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	119.32	−0.025%	$12.0M	$4.0M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	119.38	+0.025%	$10K	$264K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	119.37	+0.017%	$241K	$401K	10x	as long as short
QFEX BABA-USD	+0.0061%	1h	119.41	+0.050%	$1.2M	$4.5M	10x	as long as short
Variational Omni BABA	+0.0086%	8h	119.53	+0.148%	$269K	$658K	—	as long as short
KuCoin BABAUSDTMlong	+0.0100%	8h	119.35	long leg	$622K	$507K	20x
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	119.50	+0.126%	$2K	$798	10x	as long as short
Extended BABA_24_5-USD	+0.0152%	1h	119.38	+0.021%	$44K	$363K	10x	as long as short
Binance BABAUSDT	+0.0153%	8h	119.42	+0.062%	$15.8M	$29.0M	20x	as long as short
Phoenix BABAshort	+0.0203%	1h	118.72	−0.528%	$66K	$68K	10x
Bitget BABAUSDT	+0.0903%	8h	119.41	+0.050%	$2.5M	$1.7M	20x	as long as short