BABA

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0171%/8h= +18.7% APRnext payment +$0.21 per $10,000 · paid last 24h +0.064%

Price spread now: Phoenix against Lighter−0.110%74s7-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 Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

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. Phoenix is 0.110% cheaper against Lighter than usual: you would sell low and buy high (spread −0.110% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 2.1 days of funding at the current rate (+$5 a day). The two prices were read 74 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	Lighter BABA	118.36	0.0032	pay 0.0004% / 1h	2m 06s	$377K	$73K	10x
Short	Phoenix BABA	118.23	0.0203	get 0.0025% / 1h	2m 06s	$66K	$90K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.110%Rate

Funding earned: $35.87
Price spread: −0.110% → 0.000%: −$10.98
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $17.89
Costs to cover: 0.070%
Break-even: 3.5 days

Slippage unknown: Lighter: live order book, 42 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 Lighter live order book, 42 min ago	7.59 bp	14.7 bp −$15	17.6 bp −$176	63.1 bp −$6,308	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	118.43	+0.055%	$70K	$35K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	118.25	−0.093%	$2.1M	$706K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	118.30	−0.051%	$1.5M	$2.0M	50x	as long as short
SunX BABA-USDT	0.0000%	8h	118.30	−0.051%	$955	$3.4M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	118.36	0.000%	$30K	$18K	20x	as long as short
Lighter BABAlong	+0.0032%	1h	118.36	long leg	$377K	$73K	10x
Lighter RH BABA	+0.0032%	1h	118.29	−0.059%	$438K	$508K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.129%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	118.28	−0.068%	$72K	$109K	10x	as long as short
GRVT BABA_USDT_Perp	+0.0043%	8h	118.34	−0.017%	$3K	$193K	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	118.32	−0.034%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	118.19	−0.144%	$12.0M	$4.2M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	118.22	−0.118%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.26	−0.084%	$239K	$408K	10x	as long as short
QFEX BABA-USD	+0.0056%	1h	118.32	−0.034%	$1.2M	$3.6M	10x	as long as short
Variational Omni BABA	+0.0078%	8h	118.34	−0.013%	$266K	$658K	—	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.23	−0.110%	$615K	$451K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	118.29	−0.059%	$2K	$798	10x	as long as short
Binance BABAUSDT	+0.0159%	8h	118.30	−0.051%	$15.7M	$30.8M	20x	as long as short
Extended BABA_24_5-USD	+0.0160%	1h	118.27	−0.077%	$43K	$356K	10x	as long as short
Phoenix BABAshort	+0.0203%	1h	118.23	−0.110%	$66K	$90K	10x
Bitget BABAUSDT	+0.0228%	8h	118.29	−0.059%	$2.4M	$1.7M	20x	as long as short