Funding you earn now, next payment 00:00 UTC−0.0343%/8h= −37.6% APRpaid last 24h −0.077%
Price spread now: SunX against Phoenix−0.034%69s7-day average +0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$195as 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−$1501.502% of the position
Funding, last 7 days−0.447%−$45 on $10k
+Price spread, last 3 days (all we have)+0.121%+$12 · spread now −0.034%, 7d avg +0.029%
=Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and SunX is 0.063% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.029%). Swap the legs. The two prices were read 69 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 | 116.81 | 0.0343 | pay 0.0043% / 1h | 8m 04s | $65K | $133K | 10x |
| Short | SunX BABA-USDT | 116.77 | 0 | get 0.0000% / 8h | 7h 08m | $827 | $4.1M | 20x |
Phoenix BABA
SunX BABA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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: −0.034% → +0.029%
- −$6.28
- Slippage, 4 orders
- −$135.24
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$228.66
- Costs to cover
- 1.502%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 58 min ago; SunX: live order book, 10 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, 58 min ago | 2.58 bp | 10.4 bp −$10 | 21.8 bp −$218 | doesn't fit | doesn't fit |
| Sell SunX live order book, 10 min ago | 45.85 bp | 65.0 bp −$65 | doesn't fit | 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 | −0.104% | $76K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.80 | −0.009% | $2.2M | $581K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.78 | −0.026% | $1.4M | $1.6M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.75 | −0.051% | $2.5M | $1.3M | 20x | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 116.74 | −0.057% | $3K | $233K | 10x | as long as short |
| SunX BABA-USDTshort | 0.0000% | 8h | 116.77 | −0.034% | $827 | $4.1M | 20x | |
| HTX BABA-USDT | 0.0000% | 8h | 116.89 | +0.068% | $37K | $2K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 116.90 | +0.077% | $386K | $50K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.75 | −0.051% | $422K | $514K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.830% | $11K | $26K | 12x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
GRVT BABA_USDT_Perp
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 | 116.79 | −0.017% | — | $18K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 116.76 | −0.043% | $12.1M | $2.9M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 116.66 | −0.128% | $10K | $264K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.69 | −0.103% | $234K | $354K | 10x | as long as short |
| QFEX BABA-USD | +0.0072% | 1h | 116.74 | −0.060% | $1.2M | $5.1M | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.65 | −0.137% | $606K | $540K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.77 | −0.034% | $2K | $798 | 10x | as long as short |
| Variational Omni BABA | +0.0137% | 8h | 116.74 | −0.064% | $302K | $619K | — | as long as short |
| Binance BABAUSDT | +0.0196% | 8h | 116.78 | −0.028% | $15.4M | $22.3M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0200% | 1h | 116.75 | −0.054% | $46K | $365K | 10x | as long as short |
| Phoenix BABAlong | +0.0343% | 1h | 116.81 | long leg | $65K | $133K | 10x | |
| Arcus BABA-USD | +0.0626% | 1h | 116.73 | −0.068% | $73K | $102K | 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
Binance BABAUSDT
Extended BABA_24_5-USD
Arcus BABA-USD