Funding you earn now, next payment 00:00 UTC−0.0343%/8h= −37.6% APRpaid last 24h −0.077%
Price spread now: Bybit against Phoenix−0.017%7-day average +0.015% · you buy dearer than you sell
Net, funding: paid 7d − costs−$103as in the Funding arb table
Net, price: spread back to 7d avg − costs−$62as in the Price arb table
costs, in and out, $10k−$580.584% of the position
Funding, last 7 days−0.447%−$45 on $10k
+Price spread, last 3 days (all we have)+0.055%+$6 · spread now −0.017%, 7d avg +0.015%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Bybit is 0.032% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.015%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BABA | 116.74 | 0.0343 | pay 0.0043% / 1h | 13m 08s | $65K | $133K | 10x |
| Short | Bybit BABAUSDT | 116.72 | 0 | get 0.0000% / 8h | 7h 13m | $2.2M | $582K | 25x |
Phoenix BABA
Bybit BABAUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$72.13
- Price spread: −0.017% → +0.015%
- −$3.2
- Slippage, 4 orders
- −$40.44
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$133.77
- Costs to cover
- 0.584%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 53 min ago; Bybit: live order book, 4 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, 53 min ago | 2.58 bp | 10.4 bp −$10 | 21.8 bp −$218 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 3.43 bp | 19.3 bp −$19 | 124.3 bp −$1,243 | doesn't fit | 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 | 116.69 | −0.044% | $76K | $27K | 20x | as long as short |
| Bybit BABAUSDTshort | 0.0000% | 8h | 116.72 | −0.017% | $2.2M | $582K | 25x | |
| Gate BABA_USDT | 0.0000% | 8h | 116.76 | +0.017% | $1.4M | $1.6M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.74 | 0.000% | $2.5M | $1.3M | 20x | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 116.72 | −0.020% | $3K | $233K | 10x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.74 | 0.000% | $530 | $4.1M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.58 | −0.137% | $37K | $2K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 116.86 | +0.103% | $386K | $50K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.69 | −0.043% | $424K | $511K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.771% | $11K | $26K | 12x | as long as short |
Aster BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
GRVT BABA_USDT_Perp
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 | 116.75 | +0.009% | — | $18K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 116.69 | −0.043% | $12.1M | $2.9M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 116.66 | −0.069% | $10K | $264K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.62 | −0.103% | $234K | $352K | 10x | as long as short |
| QFEX BABA-USD | +0.0072% | 1h | 116.71 | −0.026% | $1.2M | $5.1M | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.66 | −0.069% | $605K | $542K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.75 | +0.009% | $2K | $798 | 10x | as long as short |
| Variational Omni BABA | +0.0134% | 8h | 116.72 | −0.015% | $302K | $619K | — | as long as short |
| Extended BABA_24_5-USD | +0.0192% | 1h | 116.71 | −0.022% | $42K | $360K | 10x | as long as short |
| Binance BABAUSDT | +0.0194% | 8h | 116.70 | −0.034% | $15.4M | $22.1M | 20x | as long as short |
| Phoenix BABAlong | +0.0343% | 1h | 116.74 | long leg | $65K | $133K | 10x | |
| Arcus BABA-USD | +0.0626% | 1h | 116.68 | −0.051% | $75K | $100K | 10x | as long as short |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Variational Omni BABA
Extended BABA_24_5-USD
Binance BABAUSDT
Arcus BABA-USD