Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.012%

Price spread now: HTX against Lighter+0.110%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. HTX is 0.110% dearer against Lighter than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BABA	117.81	0.0032	pay 0.0004% / 1h	53m 06s	$388K	$46K	10x
Short	HTX BABA-USDT	117.94	0	get 0.0000% / 8h	5h 53m	$35K	$8K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter. 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 LighterbpFee HTXbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$6.72
Price spread: +0.110% → 0.000%: $11.03
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$7.69
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 2 min ago; HTX: 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 Lighter live order book, 2 min ago	11.44 bp	13.1 bp −$13	15.8 bp −$158	62.0 bp −$6,200	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

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	117.70	−0.092%	$77K	$27K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	117.74	−0.059%	$2.2M	$578K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	117.75	−0.051%	$1.5M	$1.6M	50x	as long as short
GRVT BABA_USDT_Perp	0.0000%	8h	117.98	+0.141%	$3K	$222K	10x	as long as short
SunX BABA-USDT	0.0000%	8h	117.70	−0.093%	$896	$3.6M	20x	as long as short
HTX BABA-USDTshort	0.0000%	8h	117.94	+0.110%	$35K	$8K	20x
Lighter BABAlong	+0.0032%	1h	117.81	long leg	$388K	$46K	10x
Lighter RH BABA	+0.0032%	1h	117.65	−0.136%	$426K	$495K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−1.672%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	117.85	+0.034%	$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	117.87	+0.051%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	117.65	−0.136%	$12.1M	$3.5M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	117.82	+0.008%	$10K	$264K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	117.75	−0.051%	$236K	$374K	10x	as long as short
QFEX BABA-USD	+0.0061%	1h	117.83	+0.017%	$1.2M	$4.5M	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	117.73	−0.068%	$612K	$524K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	117.76	−0.042%	$2K	$798	10x	as long as short
Variational Omni BABA	+0.0119%	8h	117.87	+0.047%	$265K	$658K	—	as long as short
Extended BABA_24_5-USD	+0.0176%	1h	117.68	−0.106%	$46K	$368K	10x	as long as short
Binance BABAUSDT	+0.0178%	8h	117.71	−0.081%	$15.5M	$23.9M	20x	as long as short
Phoenix BABA	+0.0203%	1h	117.86	+0.042%	$66K	$68K	10x	as long as short
Bitget BABAUSDT	+0.0287%	8h	117.77	−0.034%	$2.5M	$1.3M	20x	as long as short