Funding you earn now, next payment 01:00 UTC−0.0173%/8h= −18.9% APRnext payment −$0.22 per $10,000 · paid last 24h −0.068%
Price spread now: Lighter RH against Phoenix−0.119%7-day average −0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs−$41as in the Price arb table
costs, in and out, $10k−$330.333% of the position
Funding, last 7 days−0.377%−$38 on $10k
+Price spread, last 3 days (all we have)+0.138%+$14 · spread now −0.119%, 7d avg −0.044%
=Together, before fees−0.240%+ Points / potential airdropLighter RH: Points live · farm board−$24 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter RH is 0.075% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.044%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BABA | 118.01 | 0.0205 | pay 0.0026% / 1h | 0m 31s | $66K | $71K | 10x |
| Short | Lighter RH BABA | 117.87 | 0.0032 | get 0.0004% / 1h | 0m 31s | $426K | $502K | 10x |
Phoenix BABA
Lighter RH BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$36.33
- Price spread: −0.119% → −0.044%
- −$7.51
- Slippage, 4 orders
- −$26.34
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$77.18
- Costs to cover
- 0.333%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 60 min ago; Lighter RH: live order book, 2 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, 60 min ago | 4.27 bp | 12.9 bp −$13 | 28.7 bp −$287 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 2 min ago | 3.38 bp | 3.7 bp −$4 | 9.2 bp −$92 | 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 | 117.75 | −0.219% | $77K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 117.88 | −0.110% | $2.2M | $569K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 117.84 | −0.144% | $1.5M | $1.7M | 50x | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 118.06 | +0.039% | $3K | $223K | 10x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 118.23 | +0.186% | $786 | $3.6M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 118.11 | +0.085% | $38K | $2K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 117.96 | −0.042% | $388K | $46K | 10x | as long as short |
| Lighter RH BABAshort | +0.0032% | 1h | 117.87 | −0.119% | $426K | $502K | 10x | |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −1.839% | $11K | $26K | 12x | as long as short |
| QFEX BABA-USD | +0.0035% | 1h | 117.81 | −0.169% | $1.2M | $4.5M | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
GRVT BABA_USDT_Perp
SunX BABA-USDT
HTX BABA-USDT
Lighter 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 | |
|---|---|---|---|---|---|---|---|---|
| Arcus BABA-USD | +0.0040% | 1h | 118.04 | +0.025% | $72K | $109K | 10x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 117.93 | −0.068% | — | $18K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 117.84 | −0.144% | $12.1M | $3.5M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 118.18 | +0.144% | $10K | $264K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 117.76 | −0.212% | $238K | $373K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 117.85 | −0.136% | $614K | $524K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 118.25 | +0.203% | $2K | $798 | 10x | as long as short |
| Variational Omni BABA | +0.0122% | 8h | 118.22 | +0.182% | $266K | $658K | — | as long as short |
| Binance BABAUSDT | +0.0180% | 8h | 117.80 | −0.181% | $15.6M | $23.9M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0184% | 1h | 117.83 | −0.153% | $46K | $368K | 10x | as long as short |
| Phoenix BABAlong | +0.0205% | 1h | 118.01 | long leg | $66K | $71K | 10x | |
| Bitget BABAUSDT | +0.0237% | 8h | 117.86 | −0.127% | $2.5M | $1.3M | 20x | as long as short |
Arcus BABA-USD
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Variational Omni BABA
Binance BABAUSDT
Extended BABA_24_5-USD
Bitget BABAUSDT