Funding you earn now, next payment 23:00 UTC+0.0226%/8h= +24.7% APRnext payment +$0.28 per $10,000 · paid last 24h +0.054%
Price spread now: Phoenix against Polymarket Perps+0.077%7-day average +0.041% · you sell dearer than you buy
Net, funding: paid 7d − costs−$7as in the Funding arb table
Net, price: spread back to 7d avg − costs−$32as in the Price arb table
costs, in and out, $10k−$360.358% of the position
Funding, last 7 days+0.291%+$29 on $10k
+Price spread, last 3 days (all we have)−0.088%−$9 · spread now +0.077%, 7d avg +0.041%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.036% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.041%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Polymarket Perps BABA-USD | 116.39 | 0.0050 | pay 0.0006% / 1h | 1m 17s | $10K | $265K | 10x |
| Short | Phoenix BABA | 116.48 | 0.0276 | get 0.0034% / 1h | 1m 17s | $65K | $143K | 10x |
Polymarket Perps BABA-USD
Phoenix BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Polymarket Perps. 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
- $47.36
- Price spread: +0.077% → +0.041%
- $3.64
- Slippage, 4 orders
- −$20.78
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $15.22
- Costs to cover
- 0.358%
- Break-even
- 4.8 days
Slippage from Polymarket Perps: live order book, 11 min ago; Phoenix: 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 Polymarket Perps live order book, 11 min ago | 3.44 bp | 7.4 bp −$7 | 8.1 bp −$81 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 2.58 bp | 10.5 bp −$10 | 21.8 bp −$218 | 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 | 116.33 | −0.048% | $75K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.46 | +0.060% | $2.2M | $600K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.50 | +0.095% | $1.4M | $1.7M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.46 | +0.060% | $2.5M | $1.4M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.52 | +0.112% | $740 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.49 | +0.086% | $37K | $2K | 20x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.43 | +0.034% | $444K | $593K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.473% | $11K | $26K | 12x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.32 | −0.060% | — | $9K | 10x | as long as short |
| QFEX BABA-USD | +0.0047% | 1h | 116.42 | +0.026% | $1.2M | $5.2M | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
Lighter RH BABA
Injective BABA/USDC PERP
Vest BABA-USD-PERP
QFEX BABA-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps BABA-USDlong | +0.0050% | 1h | 116.39 | long leg | $10K | $265K | 10x | |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.14 | −0.215% | $243K | $354K | 10x | as long as short |
| Lighter BABA | +0.0072% | 1h | 116.57 | +0.155% | $385K | $50K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.37 | −0.017% | $603K | $568K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.49 | +0.086% | $2K | $1K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0101% | 1h | 116.40 | +0.009% | $12.1M | $3.1M | 10x | as long as short |
| Variational Omni BABA | +0.0132% | 8h | 116.51 | +0.102% | $301K | $619K | — | as long as short |
| GRVT BABA_USDT_Perp | +0.0135% | 8h | 116.48 | +0.078% | $2K | $245K | 10x | as long as short |
| Binance BABAUSDT | +0.0204% | 8h | 116.53 | +0.120% | $15.4M | $22.0M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0208% | 1h | 116.51 | +0.101% | $42K | $383K | 10x | as long as short |
| Phoenix BABAshort | +0.0276% | 1h | 116.48 | +0.077% | $65K | $143K | 10x | |
| Arcus BABA-USD | +0.0394% | 1h | 116.49 | +0.086% | $75K | $101K | 10x | as long as short |
Ondo Perps BABA-USD.P
Lighter BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
tradeXYZ xyz:BABA
Variational Omni BABA
GRVT BABA_USDT_Perp
Binance BABAUSDT
Extended BABA_24_5-USD
Arcus BABA-USD