Funding you earn now, next payment 06:00 UTC−0.0041%/8h= −4.5% APRnext payment −$0.05 per $10,000 · paid last 24h −0.005%
Price spread now: Lighter against QFEX−0.025%7-day average +0.098% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$78as in the Price arb table
costs, in and out, $10k−$650.653% of the position
Funding, last 4 days (all we have)+0.043%+$4 on $10k
+Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.025%, 7d avg +0.098%
=Together, before fees+0.224%+ Points / potential airdropLighter: Season 3 · farm board+$22 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Lighter is 0.124% cheaper against QFEX than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.098%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | QFEX BABA-USD | 118.33 | 0.0073 | pay 0.0009% / 1h | 52m 05s | $1.2M | $3.6M | 10x |
| Short | Lighter BABA | 118.30 | 0.0032 | get 0.0004% / 1h | 52m 05s | $376K | $73K | 10x |
QFEX BABA-USD
Lighter BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter against QFEX. 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
- −$8.55
- Price spread: −0.025% → +0.098%
- −$12.36
- Slippage, 4 orders
- −$55.34
- Fee QFEX: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$86.24
- Costs to cover
- 0.653%
- Break-even
- never at this rate
Slippage from QFEX: live order book, 6 min ago; Lighter: live order book, 52 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 QFEX live order book, 6 min ago | 2.54 bp | 8.5 bp −$9 | 11.6 bp −$116 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 52 min ago | 7.59 bp | 33.5 bp −$34 | 37.7 bp −$377 | 83.5 bp −$8,346 | 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 | 118.29 | −0.034% | $70K | $35K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 118.22 | −0.093% | $2.1M | $711K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 118.30 | −0.025% | $1.5M | $1.9M | 50x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 118.26 | −0.059% | $979 | $3.4M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 118.50 | +0.144% | $30K | $18K | 20x | as long as short |
| Lighter BABAshort | +0.0032% | 1h | 118.30 | −0.025% | $376K | $73K | 10x | |
| Lighter RH BABA | +0.0032% | 1h | 118.24 | −0.076% | $438K | $509K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −2.104% | $11K | $26K | 12x | as long as short |
| Arcus BABA-USD | +0.0040% | 1h | 118.34 | +0.008% | $72K | $110K | 10x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 118.29 | −0.034% | — | $19K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
SunX BABA-USDT
HTX BABA-USDT
Lighter RH BABA
Injective BABA/USDC PERP
Arcus BABA-USD
Vest BABA-USD-PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| GRVT BABA_USDT_Perp | +0.0048% | 8h | 118.05 | −0.236% | $3K | $194K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 118.14 | −0.161% | $12.0M | $4.3M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 118.19 | −0.118% | $9K | $266K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 118.38 | +0.042% | $238K | $409K | 10x | as long as short |
| QFEX BABA-USDlong | +0.0073% | 1h | 118.33 | long leg | $1.2M | $3.6M | 10x | |
| Variational Omni BABA | +0.0084% | 8h | 118.31 | −0.017% | $266K | $658K | — | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 118.12 | −0.177% | $615K | $443K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 118.26 | −0.059% | $2K | $798 | 10x | as long as short |
| Extended BABA_24_5-USD | +0.0160% | 1h | 118.24 | −0.078% | $43K | $354K | 10x | as long as short |
| Binance BABAUSDT | +0.0163% | 8h | 118.29 | −0.037% | $15.7M | $31.0M | 20x | as long as short |
| Bitget BABAUSDT | +0.0187% | 8h | 118.27 | −0.051% | $2.4M | $1.7M | 20x | as long as short |
| Phoenix BABA | +0.0271% | 1h | 118.46 | +0.110% | $66K | $90K | 10x | as long as short |
GRVT BABA_USDT_Perp
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
Variational Omni BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Extended BABA_24_5-USD
Binance BABAUSDT
Bitget BABAUSDT
Phoenix BABA