Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.010%

Price spread now: Injective against SunX−0.121%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Injective is 0.121% cheaper against SunX than usual: you would sell low and buy high (spread −0.121% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$12 on $10k: about 12 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BABA-USDT	115.98	0	get 0.0000% / 8h	1h 34m	$951	$4.2M	20x
Short	Injective BABA/USDC PERP	115.84	0.0033	get 0.0004% / 1h	34m 55s	$11K	$26K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SunXbpFee InjectivebpOrdersPrice spread, now −0.121%Rate

Funding earned: $7
Price spread: −0.121% → 0.000%: −$12.07
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$13.09
Costs to cover: 0.080%
Break-even: 20.1 days

Slippage unknown: SunX: live order book, 3 min ago; Injective: no order-book sample. 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 SunX live order book, 3 min ago	45.27 bp	63.6 bp −$64	doesn't fit	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	116.00	+0.017%	$75K	$27K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	116.00	+0.017%	$2.2M	$612K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	115.97	−0.009%	$1.4M	$1.7M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	116.00	+0.017%	$2.5M	$1.3M	20x	as long as short
Variational Omni BABA	0.0000%	8h	115.96	−0.016%	$300K	$620K	—	as long as short
GRVT BABA_USDT_Perp	0.0000%	8h	115.97	−0.007%	$3K	$258K	10x	as long as short
SunX BABA-USDTlong	0.0000%	8h	115.98	long leg	$951	$4.2M	20x
HTX BABA-USDT	0.0000%	8h	116.02	+0.034%	$37K	$2K	20x	as long as short
Binance BABAUSDT	+0.0006%	8h	115.99	+0.008%	$15.3M	$21.1M	20x	as long as short
Extended BABA_24_5-USD	+0.0008%	1h	115.97	−0.010%	$42K	$383K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter BABA	+0.0032%	1h	116.08	+0.086%	$384K	$49K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	115.98	0.000%	$446K	$590K	10x	as long as short
Injective BABA/USDC PERPshort	+0.0033%	1h	115.84	−0.121%	$11K	$26K	12x
QFEX BABA-USD	+0.0035%	1h	115.95	−0.026%	$1.2M	$5.1M	10x	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	115.97	−0.009%	—	$9K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	115.93	−0.043%	$12.1M	$3.0M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	115.88	−0.086%	$10K	$263K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	115.75	−0.198%	$249K	$336K	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	115.90	−0.069%	$601K	$644K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	115.96	−0.017%	$2K	$1K	10x	as long as short
Phoenix BABA	+0.0276%	1h	115.94	−0.034%	$79K	$129K	10x	as long as short
Arcus BABA-USD	+0.0462%	1h	115.97	−0.009%	$79K	$93K	10x	as long as short