Funding you earn now, next payment 21:00 UTC−0.0130%/8h= −14.2% APRpaid last 24h −0.016%
Price spread now: Binance against Phoenix+0.034%95s7-day average +0.015% · you sell dearer than you buy
Net, funding: paid 7d − costs−$66as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$430.426% of the position
Funding, last 7 days−0.233%−$23 on $10k
+Price spread, last 2 days (all we have)+0.001%$0 · spread now +0.034%, 7d avg +0.015%
=The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 95 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 | 115.99 | 0.0207 | pay 0.0026% / 1h | 29m 52s | $79K | $129K | 10x |
| Short | Binance BABAUSDT | 116.03 | 0.0077 | get 0.0077% / 8h | 2h 29m | $15.4M | $21.0M | 20x |
Phoenix BABA
Binance BABAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- −$27.3
- Price spread: +0.034% → +0.015%
- $1.89
- Slippage, 4 orders
- −$25.6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$68.01
- Costs to cover
- 0.426%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 52 min ago; Binance: live order book, 11 min ago.
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 live order book, 52 min ago | 2.59 bp | 10.5 bp −$10 | 21.9 bp −$219 | doesn't fit | doesn't fit |
| Sell Binance live order book, 11 min ago | 0.43 bp | 10.6 bp −$11 | 28.3 bp −$283 | 120.3 bp −$12.0K | doesn't fit |
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 | 115.99 | −0.001% | $73K | $25K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.00 | +0.009% | $2.2M | $613K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.02 | +0.026% | $1.4M | $1.7M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.02 | +0.026% | $2.5M | $1.3M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.01 | +0.017% | $411 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.03 | +0.034% | $37K | $2K | 20x | as long as short |
| Variational Omni BABA | 0.0000% | 8h | 116.01 | +0.021% | $300K | $620K | — | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.02 | +0.026% | $446K | $595K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.129% | $11K | $26K | 12x | as long as short |
| QFEX BABA-USD | +0.0042% | 1h | 115.99 | 0.000% | $1.2M | $5.0M | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
Variational Omni BABA
Lighter RH BABA
Injective BABA/USDC PERP
QFEX BABA-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.01 | +0.017% | — | $9K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 115.97 | −0.017% | $12.1M | $3.0M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 115.96 | −0.026% | $10K | $263K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 115.90 | −0.078% | $249K | $334K | 10x | as long as short |
| Lighter BABA | +0.0056% | 1h | 116.19 | +0.172% | $385K | $51K | 10x | as long as short |
| GRVT BABA_USDT_Perp | +0.0073% | 8h | 116.00 | +0.008% | $3K | $273K | 10x | as long as short |
| Binance BABAUSDTshort | +0.0077% | 8h | 116.03 | +0.034% | $15.4M | $21.0M | 20x | |
| Extended BABA_24_5-USD | +0.0080% | 1h | 116.02 | +0.022% | $42K | $383K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 115.89 | −0.086% | $601K | $690K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.01 | +0.017% | $2K | $1K | 10x | as long as short |
| Phoenix BABAlong | +0.0207% | 1h | 115.99 | long leg | $79K | $129K | 10x | |
| Arcus BABA-USD | +0.0643% | 1h | 116.01 | +0.017% | $79K | $93K | 10x | as long as short |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
Lighter BABA
GRVT BABA_USDT_Perp
Extended BABA_24_5-USD
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Arcus BABA-USD