Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.018%

Price spread now: Orderly against Lighter−0.076%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Orderly

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

Funding pays, the price is against you. Orderly is 0.076% cheaper against Lighter than usual: you would sell low and buy high (spread −0.076% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 3.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BABA	118.22	0.0032	pay 0.0004% / 1h	52m 03s	$376K	$73K	10x
Short	Orderly PERP_BABA_USDC_mythos	118.13	0.0100	get 0.0100% / 8h	3h 52m	$2K	$798	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.076%Rate

Funding earned: $14.28
Price spread: −0.076% → 0.000%: −$7.61
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: $0.67
Costs to cover: 0.060%
Break-even: 6.7 days

Slippage unknown: Lighter: live order book, 57 min ago; Orderly: 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, 57 min ago	11.76 bp	14.1 bp −$14	16.1 bp −$161	60.4 bp −$6,039	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	118.19	−0.029%	$70K	$35K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	118.14	−0.068%	$2.1M	$698K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	118.19	−0.025%	$1.5M	$1.9M	50x	as long as short
SunX BABA-USDT	0.0000%	8h	118.19	−0.025%	$709	$3.4M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	118.22	0.000%	$30K	$18K	20x	as long as short
GRVT BABA_USDT_Perp	+0.0007%	8h	118.32	+0.085%	$3K	$193K	10x	as long as short
Lighter BABAlong	+0.0032%	1h	118.22	long leg	$376K	$73K	10x
Lighter RH BABA	+0.0032%	1h	118.16	−0.051%	$437K	$507K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.013%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	118.16	−0.051%	$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	118.18	−0.034%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	118.07	−0.127%	$11.9M	$4.2M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	118.11	−0.093%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.14	−0.068%	$238K	$405K	10x	as long as short
QFEX BABA-USD	+0.0056%	1h	118.16	−0.051%	$1.2M	$4.0M	10x	as long as short
Variational Omni BABA	+0.0061%	8h	118.15	−0.056%	$266K	$658K	—	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.13	−0.076%	$615K	$465K	20x	as long as short
Orderly PERP_BABA_USDC_mythosshort	+0.0100%	8h	118.13	−0.076%	$2K	$798	10x
Extended BABA_24_5-USD	+0.0128%	1h	118.12	−0.080%	$44K	$355K	10x	as long as short
Binance BABAUSDT	+0.0130%	8h	118.17	−0.042%	$15.6M	$30.5M	20x	as long as short
Phoenix BABA	+0.0203%	1h	118.09	−0.110%	$66K	$90K	10x	as long as short
Bitget BABAUSDT	+0.0404%	8h	118.17	−0.042%	$2.4M	$1.7M	20x	as long as short