Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Bybit against Lighter RH−0.026%7-day average +0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$370.373% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.026%, 7d avg +0.054%

Together, before fees−0.020%+ Points / potential airdropLighter RH: Points live · farm board−$2 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 Bybit is 0.080% cheaper against Lighter RH than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH BABA	116.30	0.0032	pay 0.0004% / 1h	39m 06s	$446K	$580K	10x
Short	Bybit BABAUSDT	116.27	0	get 0.0000% / 8h	39m 06s	$2.2M	$595K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter RH. 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 Lighter RHbpFee BybitbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$6.72
Price spread: −0.026% → +0.054%: −$8.02
Slippage, 4 orders: −$26.3
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$52.04
Costs to cover: 0.373%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 38 min ago; Bybit: live order book, 3 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 Lighter RH live order book, 38 min ago	1.72 bp	2.6 bp −$3	7.9 bp −$79	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	4.73 bp	16.9 bp −$17	95.4 bp −$954	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	116.25	−0.047%	$75K	$27K	20x	as long as short
Bybit BABAUSDTshort	0.0000%	8h	116.27	−0.026%	$2.2M	$595K	25x
Gate BABA_USDT	0.0000%	8h	116.31	+0.009%	$1.4M	$1.7M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	116.35	+0.043%	$2.5M	$1.4M	20x	as long as short
SunX BABA-USDT	0.0000%	8h	116.31	+0.009%	$899	$4.2M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	116.38	+0.069%	$37K	$2K	20x	as long as short
Variational Omni BABA	+0.0028%	8h	116.29	−0.008%	$300K	$620K	—	as long as short
Lighter RH BABAlong	+0.0032%	1h	116.30	long leg	$446K	$580K	10x
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−0.396%	$11K	$26K	12x	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	116.20	−0.086%	—	$9K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX BABA-USD	+0.0047%	1h	116.28	−0.017%	$1.2M	$5.2M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	116.18	−0.103%	$10K	$263K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	116.04	−0.224%	$243K	$352K	10x	as long as short
GRVT BABA_USDT_Perp	+0.0068%	8h	116.30	−0.003%	$2K	$248K	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	116.24	−0.052%	$602K	$601K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	116.32	+0.017%	$2K	$1K	10x	as long as short
Lighter BABA	+0.0112%	1h	116.45	+0.129%	$385K	$49K	10x	as long as short
Extended BABA_24_5-USD	+0.0120%	1h	116.28	−0.016%	$42K	$383K	10x	as long as short
Binance BABAUSDT	+0.0121%	8h	116.32	+0.016%	$15.3M	$21.3M	20x	as long as short
tradeXYZ xyz:BABA	+0.0158%	1h	116.27	−0.026%	$12.1M	$3.0M	10x	as long as short
Phoenix BABA	+0.0276%	1h	116.34	+0.034%	$65K	$143K	10x	as long as short
Arcus BABA-USD	+0.0394%	1h	116.29	−0.009%	$78K	$94K	10x	as long as short