Funding you earn now, next payment 05:00 UTC−0.0230%/8h= −25.2% APRnext payment −$0.29 per $10,000 · paid last 24h +0.067%
Price spread now: Arcus against Phoenix−0.026%109s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Arcus is 0.026% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 109 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 | Phoenix BABA | 117.61 | 0.0271 | pay 0.0034% / 1h | 17m 43s | $66K | $90K | 10x |
| Short | Arcus BABA-USD | 117.58 | 0.0040 | get 0.0005% / 1h | 17m 43s | $71K | $110K | 10x |
Phoenix BABA
Arcus BABA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$48.39
- Price spread: −0.026% → 0.000%
- −$2.55
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$62.45
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Arcus: live order book, 21 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 21 min ago | 4.23 bp | 9.4 bp −$9 | 12.4 bp −$124 | doesn't fit | doesn't fit |
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 | 117.90 | +0.246% | $69K | $36K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 117.62 | +0.009% | $2.1M | $722K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 117.63 | +0.017% | $1.5M | $2.0M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 117.60 | −0.009% | $2.4M | $1.7M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 117.62 | +0.009% | $794 | $3.3M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 117.69 | +0.068% | $30K | $18K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 117.65 | +0.034% | $374K | $73K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 117.56 | −0.043% | $436K | $514K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −1.505% | $11K | $26K | 12x | as long as short |
| Arcus BABA-USDshort | +0.0040% | 1h | 117.58 | −0.026% | $71K | $110K | 10x |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 117.61 | 0.000% | — | $19K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 117.49 | −0.102% | $11.9M | $4.3M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 117.55 | −0.051% | $9K | $266K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 117.56 | −0.043% | $238K | $400K | 10x | as long as short |
| QFEX BABA-USD | +0.0073% | 1h | 117.63 | +0.017% | $1.2M | $3.4M | 10x | as long as short |
| GRVT BABA_USDT_Perp | +0.0084% | 8h | 117.68 | +0.061% | $3K | $193K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 117.49 | −0.102% | $611K | $426K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 117.61 | 0.000% | $2K | $798 | 10x | as long as short |
| Variational Omni BABA | +0.0110% | 8h | 117.65 | +0.034% | $265K | $658K | — | as long as short |
| Extended BABA_24_5-USD | +0.0176% | 1h | 117.63 | +0.016% | $44K | $360K | 10x | as long as short |
| Binance BABAUSDT | +0.0177% | 8h | 117.63 | +0.017% | $15.6M | $31.2M | 20x | as long as short |
| Phoenix BABAlong | +0.0271% | 1h | 117.61 | long leg | $66K | $90K | 10x |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
GRVT BABA_USDT_Perp
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Variational Omni BABA
Extended BABA_24_5-USD
Binance BABAUSDT