Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against HTX−0.120%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.120% cheaper against HTX than usual: you would sell low and buy high (spread −0.120% 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	HTX BABA-USDT	117.10	0	get 0.0000% / 8h	1h 17m	$30K	$19K	20x
Short	Lighter BABA	116.96	0.0032	get 0.0004% / 1h	17m 26s	$372K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now −0.120%Rate

Funding earned: $6.72
Price spread: −0.120% → 0.000%: −$11.96
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$17.24
Costs to cover: 0.120%
Break-even: 25.0 days

Slippage unknown: HTX: no order-book sample; Lighter: live order book, 17 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 HTX no order-book sample	—	—	—	—	—
Sell Lighter live order book, 17 min ago	10.67 bp	29.5 bp −$29	32.8 bp −$328	79.0 bp −$7,896	doesn't fit

HTX: 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	117.02	−0.071%	$68K	$36K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	116.91	−0.162%	$2.1M	$734K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	116.90	−0.171%	$1.5M	$2.1M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	116.91	−0.162%	$2.3M	$1.8M	20x	as long as short
SunX BABA-USDT	0.0000%	8h	116.92	−0.154%	$880	$3.3M	20x	as long as short
HTX BABA-USDTlong	0.0000%	8h	117.10	long leg	$30K	$19K	20x
GRVT BABA_USDT_Perp	+0.0020%	8h	116.99	−0.094%	$2K	$194K	10x	as long as short
Lighter BABAshort	+0.0032%	1h	116.96	−0.120%	$372K	$72K	10x
Lighter RH BABA	+0.0032%	1h	116.86	−0.205%	$434K	$512K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−1.076%	$11K	$26K	12x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus BABA-USD	+0.0040%	1h	116.88	−0.188%	$71K	$110K	10x	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	116.89	−0.179%	—	$19K	10x	as long as short
Variational Omni BABA	+0.0048%	8h	116.93	−0.141%	$364K	$753K	—	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	116.82	−0.239%	$11.7M	$4.4M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	116.81	−0.248%	$8K	$285K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	116.74	−0.307%	$227K	$422K	10x	as long as short
QFEX BABA-USD	+0.0063%	1h	116.89	−0.179%	$1.2M	$3.1M	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	116.88	−0.188%	$609K	$386K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	116.88	−0.188%	$2K	$798	10x	as long as short
Binance BABAUSDT	+0.0113%	8h	116.89	−0.179%	$15.1M	$32.5M	20x	as long as short
Extended BABA_24_5-USD	+0.0120%	1h	116.87	−0.193%	$44K	$308K	10x	as long as short
Phoenix BABA	+0.0204%	1h	116.92	−0.154%	$65K	$89K	10x	as long as short