Funding arb · Price arb /

BABA

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0060%/8h= −6.5% APRpaid last 24h +0.111%

Price spread now: Arcus against Orderly+0.101%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Arcus is 0.101% dearer against Orderly than usual: you sell high and buy low (spread +0.101% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BABA_USDC_mythos	118.83	0.0100	pay 0.0100% / 8h	4h 47m	$2K	$798	10x
Short	Arcus BABA-USD	118.95	0.0040	get 0.0005% / 1h	47m 06s	$72K	$109K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Orderly. 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 OrderlybpFee ArcusbpOrdersPrice spread, now +0.101%Rate

Funding earned: −$12.54
Price spread: +0.101% → 0.000%: $10.1
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$12.94
Costs to cover: 0.105%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Arcus: live order book, 2 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 Orderly no order-book sample	—	—	—	—	—
Sell Arcus live order book, 2 min ago	4.63 bp	10.7 bp −$11	13.1 bp −$131	doesn't fit	doesn't fit

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	119.04	+0.175%	$72K	$35K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	118.86	+0.025%	$2.2M	$646K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	118.82	−0.008%	$1.5M	$1.8M	50x	as long as short
GRVT BABA_USDT_Perp	0.0000%	8h	119.00	+0.140%	$3K	$217K	10x	as long as short
SunX BABA-USDT	0.0000%	8h	118.84	+0.008%	$985	$3.6M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	119.07	+0.202%	$30K	$18K	20x	as long as short
Lighter BABA	+0.0032%	1h	118.85	+0.017%	$378K	$73K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	118.75	−0.067%	$428K	$495K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.516%	$11K	$26K	12x	as long as short
Arcus BABA-USDshort	+0.0040%	1h	118.95	+0.101%	$72K	$109K	10x

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	118.85	+0.017%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	118.66	−0.143%	$12.0M	$4.1M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	118.78	−0.042%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.85	+0.017%	$241K	$405K	10x	as long as short
Variational Omni BABA	+0.0054%	8h	119.08	+0.210%	$268K	$658K	—	as long as short
QFEX BABA-USD	+0.0068%	1h	118.84	+0.008%	$1.2M	$4.3M	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.75	−0.067%	$618K	$498K	20x	as long as short
Orderly PERP_BABA_USDC_mythoslong	+0.0100%	8h	118.83	long leg	$2K	$798	10x
Extended BABA_24_5-USD	+0.0128%	1h	118.82	−0.011%	$43K	$360K	10x	as long as short
Binance BABAUSDT	+0.0128%	8h	118.80	−0.025%	$15.6M	$29.8M	20x	as long as short
Phoenix BABA	+0.0201%	1h	119.02	+0.160%	$67K	$90K	10x	as long as short
Bitget BABAUSDT	+0.0983%	8h	118.78	−0.042%	$2.4M	$1.7M	20x	as long as short