Funding you earn now, next payment 22:00 UTC−0.0276%/8h= −30.2% APRpaid last 24h −0.029%
Price spread now: Variational Omni against Phoenix+0.007%54s7-day average +0.027% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.056%−$6 on $10k
+Price spread, last 3 days (all we have)+0.008%+$1 · spread now +0.007%, 7d avg +0.027%
=Together, before fees−0.048%+ Points / potential airdropVariational Omni: Active · farm board−$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.056% in total (about -6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BABA | 116.20 | 0.0276 | pay 0.0034% / 1h | 54m 36s | $65K | $143K | 10x |
| Short | Variational Omni BABA | 116.21 | 0 | get 0.0000% / 8h | 54m 36s | $300K | $620K | — |
Phoenix BABA
Variational Omni BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$57.95
- Price spread: +0.007% → +0.027%
- −$1.98
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$66.93
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 16 min ago; Variational Omni: RFQ quote, 24 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 live order book, 16 min ago | 2.58 bp | 10.5 bp −$10 | 21.9 bp −$219 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 24 min ago | 2.54 bp | doesn't fit | 23.1 bp −$231 | 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 | 116.06 | −0.119% | $75K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.23 | +0.026% | $2.2M | $593K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.25 | +0.043% | $1.4M | $1.6M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.27 | +0.060% | $2.5M | $1.3M | 20x | as long as short |
| Variational Omni BABAshort | 0.0000% | 8h | 116.21 | +0.007% | $300K | $620K | — | |
| SunX BABA-USDT | 0.0000% | 8h | 116.24 | +0.034% | $714 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.28 | +0.069% | $37K | $2K | 20x | as long as short |
| GRVT BABA_USDT_Perp | +0.0006% | 8h | 116.16 | −0.037% | $2K | $250K | 10x | as long as short |
| Lighter BABA | +0.0032% | 1h | 116.34 | +0.120% | $384K | $49K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.21 | +0.009% | $446K | $580K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
GRVT BABA_USDT_Perp
Lighter BABA
Lighter RH BABAShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.310% | $11K | $26K | 12x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.14 | −0.052% | — | $9K | 10x | as long as short |
| QFEX BABA-USD | +0.0047% | 1h | 116.25 | +0.043% | $1.2M | $5.1M | 10x | as long as short |
| Extended BABA_24_5-USD | +0.0048% | 1h | 116.26 | +0.050% | $42K | $383K | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 116.10 | −0.086% | $10K | $263K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.18 | −0.017% | $239K | $350K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0055% | 1h | 116.17 | −0.026% | $12.1M | $3.0M | 10x | as long as short |
| Binance BABAUSDT | +0.0059% | 8h | 116.28 | +0.069% | $15.4M | $21.1M | 20x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.11 | −0.077% | $602K | $613K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.19 | −0.009% | $2K | $1K | 10x | as long as short |
| Phoenix BABAlong | +0.0276% | 1h | 116.20 | long leg | $65K | $143K | 10x | |
| Arcus BABA-USD | +0.0394% | 1h | 116.23 | +0.026% | $78K | $94K | 10x | as long as short |
Injective BABA/USDC PERP
Vest BABA-USD-PERP
QFEX BABA-USD
Extended BABA_24_5-USD
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
tradeXYZ xyz:BABA
Binance BABAUSDT
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Arcus BABA-USD