Funding you earn now, next payment 21:00 UTC+0.0198%/8h= +21.7% APRpaid last 24h +0.026%
Price spread now: Phoenix against Variational Omni+0.029%99s7-day average −0.026% · 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)+0.053%+$5 on $10k
+Price spread, last 3 days (all we have)−0.063%−$6 · spread now +0.029%, 7d avg −0.026%
=Together, before fees−0.010%+ Points / potential airdropVariational Omni: Active · farm board−$1 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Phoenix is 0.056% dearer against Variational Omni than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.026%. The two prices were read 99 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 0.053% in total (about 6.0% 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 | Variational Omni BABA | 115.97 | 0.0009 | pay 0.0009% / 8h | 2h 33m | $300K | $620K | — |
| Short | Phoenix BABA | 116.00 | 0.0207 | get 0.0026% / 1h | 33m 46s | $79K | $129K | 10x |
Variational Omni BABA
Phoenix BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- $41.6
- Price spread: +0.029% → −0.026%
- $5.59
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $40.19
- Costs to cover
- 0.070%
- Break-even
- 0.2 days
Slippage unknown: Variational Omni: RFQ quote, 55 min ago; Phoenix: live order book, 48 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 Variational Omni RFQ quote, 55 min ago | 2.50 bp | doesn't fit | 36.7 bp −$367 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 48 min ago | 2.59 bp | 10.5 bp −$10 | 21.9 bp −$219 | 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 | 115.98 | +0.012% | $73K | $25K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 115.98 | +0.012% | $2.2M | $612K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 115.98 | +0.012% | $1.4M | $1.7M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.01 | +0.038% | $2.5M | $1.3M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 115.99 | +0.021% | $452 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.01 | +0.038% | $37K | $2K | 20x | as long as short |
| Variational Omni BABAlong | +0.0009% | 8h | 115.97 | long leg | $300K | $620K | — | |
| Lighter RH BABA | +0.0032% | 1h | 116.01 | +0.038% | $446K | $595K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.109% | $11K | $26K | 12x | as long as short |
| QFEX BABA-USD | +0.0042% | 1h | 115.98 | +0.012% | $1.2M | $5.0M | 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
QFEX BABA-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.01 | +0.038% | — | $9K | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 115.97 | +0.003% | $10K | $263K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 115.88 | −0.074% | $249K | $333K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0053% | 1h | 115.97 | +0.003% | $12.1M | $3.0M | 10x | as long as short |
| GRVT BABA_USDT_Perp | +0.0080% | 8h | 116.01 | +0.038% | $3K | $275K | 10x | as long as short |
| Binance BABAUSDT | +0.0084% | 8h | 115.99 | +0.021% | $15.4M | $21.0M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0088% | 1h | 115.98 | +0.010% | $42K | $383K | 10x | as long as short |
| Lighter BABA | +0.0088% | 1h | 116.15 | +0.159% | $384K | $51K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 115.91 | −0.048% | $602K | $694K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 115.99 | +0.021% | $2K | $1K | 10x | as long as short |
| Phoenix BABAshort | +0.0207% | 1h | 116.00 | +0.029% | $79K | $129K | 10x | |
| Arcus BABA-USD | +0.0643% | 1h | 116.01 | +0.038% | $79K | $93K | 10x | as long as short |
Vest BABA-USD-PERP
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
tradeXYZ xyz:BABA
GRVT BABA_USDT_Perp
Binance BABAUSDT
Extended BABA_24_5-USD
Lighter BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Arcus BABA-USD