Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.039%

Price spread now: Variational Omni against Ondo Perps+0.006%7-day average +0.117% · you sell dearer than you buy

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

Long on Ondo Perps Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.034%−$3 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now +0.006%, 7d avg +0.117%

Together, before fees+0.117%+ Points / potential airdropOndo Perps: Active · Variational Omni: Active · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.112% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.006% now, against its 7-day average of +0.117%). If the spread goes back, that is −$11 on $10k: about 8.4 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	Ondo Perps BABA-USD.P	119.42	0.0050	pay 0.0006% / 1h	34m 33s	$244K	$384K	10x
Short	Variational Omni BABA	119.43	0.0095	get 0.0095% / 8h	5h 34m	$268K	$658K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Ondo Perps. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpFee Variational OmnibpOrdersPrice spread, now +0.006%Rate

Funding earned: $9.29
Price spread: +0.006% → +0.117%: −$11.16
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$6.87
Costs to cover: 0.050%
Break-even: 12.2 days

Slippage unknown: Ondo Perps: no order-book sample; Variational Omni: RFQ quote, 29 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 29 min ago	3.86 bp	doesn't fit	23.5 bp −$235	doesn't fit	doesn't fit

Ondo Perps: 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	119.51	+0.075%	$78K	$28K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	119.45	+0.025%	$2.2M	$628K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	119.65	+0.193%	$1.5M	$1.7M	50x	as long as short
GRVT BABA_USDT_Perp	0.0000%	8h	119.45	+0.025%	$3K	$219K	10x	as long as short
SunX BABA-USDT	0.0000%	8h	119.55	+0.109%	$973	$3.5M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	119.67	+0.209%	$35K	$8K	20x	as long as short
Lighter BABA	+0.0032%	1h	119.57	+0.126%	$380K	$69K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	119.57	+0.126%	$432K	$497K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.998%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	119.20	−0.184%	$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	119.51	+0.075%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	119.31	−0.092%	$12.2M	$3.7M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	119.31	−0.092%	$10K	$264K	10x	as long as short
Ondo Perps BABA-USD.Plong	+0.0050%	1h	119.42	long leg	$244K	$384K	10x
QFEX BABA-USD	+0.0061%	1h	119.49	+0.059%	$1.2M	$4.4M	10x	as long as short
Variational Omni BABAshort	+0.0095%	8h	119.43	+0.006%	$268K	$658K	—
KuCoin BABAUSDTM	+0.0100%	8h	119.30	−0.100%	$621K	$515K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	119.54	+0.100%	$2K	$798	10x	as long as short
Extended BABA_24_5-USD	+0.0160%	1h	119.53	+0.090%	$44K	$368K	10x	as long as short
Binance BABAUSDT	+0.0161%	8h	119.39	−0.025%	$16.0M	$25.4M	20x	as long as short
Phoenix BABA	+0.0203%	1h	118.57	−0.712%	$66K	$68K	10x	as long as short
Bitget BABAUSDT	+0.0578%	8h	119.40	−0.017%	$2.5M	$1.4M	20x	as long as short