Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h +0.041%

Price spread now: Binance against Injective+0.095%7-day average — · you sell dearer than you buy

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

Long on Injective Short on Binance

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

The price spread pays, funding is against you. Binance is 0.095% dearer against Injective than usual: you sell high and buy low (spread +0.095% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective BABA/USDC PERP	115.84	0.0033	pay 0.0004% / 1h	49m 18s	$11K	$26K	12x
Short	Binance BABAUSDT	115.95	0.0012	get 0.0012% / 8h	1h 49m	$15.3M	$21.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +0.095%Rate

Funding earned: −$4.55
Price spread: +0.095% → 0.000%: $9.5
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$5.07
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Binance: live order book, 7 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 Injective no order-book sample	—	—	—	—	—
Sell Binance live order book, 7 min ago	0.43 bp	9.6 bp −$10	19.8 bp −$198	123.5 bp −$12.3K	doesn't fit

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	+0.138%	$75K	$27K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	115.90	+0.052%	$2.2M	$614K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	115.94	+0.086%	$1.4M	$1.7M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	115.95	+0.095%	$2.5M	$1.3M	20x	as long as short
Variational Omni BABA	0.0000%	8h	115.96	+0.099%	$300K	$620K	—	as long as short
GRVT BABA_USDT_Perp	0.0000%	8h	115.97	+0.112%	$3K	$261K	10x	as long as short
SunX BABA-USDT	0.0000%	8h	115.96	+0.104%	$508	$4.2M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	116.02	+0.155%	$37K	$2K	20x	as long as short
Extended BABA_24_5-USD	+0.0008%	1h	115.93	+0.080%	$42K	$383K	10x	as long as short
Binance BABAUSDTshort	+0.0012%	8h	115.95	+0.095%	$15.3M	$21.1M	20x

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	+0.207%	$384K	$49K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	115.91	+0.060%	$445K	$590K	10x	as long as short
Injective BABA/USDC PERPlong	+0.0033%	1h	115.84	long leg	$11K	$26K	12x
QFEX BABA-USD	+0.0035%	1h	115.94	+0.086%	$1.2M	$5.1M	10x	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	115.89	+0.043%	—	$9K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	115.91	+0.060%	$12.1M	$3.0M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	115.85	+0.009%	$10K	$263K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	115.89	+0.043%	$249K	$336K	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	115.87	+0.026%	$601K	$657K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	115.95	+0.095%	$2K	$1K	10x	as long as short
Phoenix BABA	+0.0276%	1h	115.93	+0.078%	$79K	$129K	10x	as long as short
Arcus BABA-USD	+0.0462%	1h	115.94	+0.086%	$79K	$93K	10x	as long as short