Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: Gate against Lighter RH+0.034%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$380.377% of the position

Long on Lighter RH Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 4 days (all we have)+0.070%+$7 · spread now +0.034%, 7d avg +0.064%

Together, before fees+0.093%+ Points / potential airdropLighter RH: Points live · farm board+$9 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 Gate is 0.030% cheaper against Lighter RH than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.064%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH BABA	118.34	0.0032	pay 0.0004% / 1h	47m 15s	$438K	$509K	10x
Short	Gate BABA_USDT	118.38	0	get 0.0000% / 8h	2h 47m	$1.5M	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.034%Rate

Funding earned: −$6.72
Price spread: +0.034% → +0.064%: −$3.04
Slippage, 4 orders: −$22.66
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$47.42
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 65 min ago; Gate: live order book, 5 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, 65 min ago	1.69 bp	2.7 bp −$3	6.1 bp −$61	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	5.07 bp	18.3 bp −$18	233.3 bp −$2,333	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	118.30	−0.034%	$70K	$35K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	118.35	+0.008%	$2.1M	$710K	25x	as long as short
Gate BABA_USDTshort	0.0000%	8h	118.38	+0.034%	$1.5M	$1.9M	50x
SunX BABA-USDT	0.0000%	8h	118.38	+0.034%	$973	$3.4M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	118.43	+0.076%	$30K	$18K	20x	as long as short
Lighter BABA	+0.0032%	1h	118.35	+0.008%	$377K	$73K	10x	as long as short
Lighter RH BABAlong	+0.0032%	1h	118.34	long leg	$438K	$509K	10x
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.113%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	118.28	−0.051%	$72K	$110K	10x	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	118.35	+0.008%	—	$19K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:BABA	+0.0050%	1h	118.23	−0.093%	$12.0M	$4.3M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	118.30	−0.034%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.18	−0.135%	$239K	$401K	10x	as long as short
GRVT BABA_USDT_Perp	+0.0066%	8h	118.28	−0.054%	$3K	$194K	10x	as long as short
QFEX BABA-USD	+0.0073%	1h	118.37	+0.025%	$1.2M	$3.6M	10x	as long as short
Variational Omni BABA	+0.0095%	8h	118.29	−0.039%	$266K	$658K	—	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.25	−0.076%	$616K	$441K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	118.39	+0.042%	$2K	$798	10x	as long as short
Bitget BABAUSDT	+0.0170%	8h	118.33	−0.008%	$2.4M	$1.7M	20x	as long as short
Binance BABAUSDT	+0.0176%	8h	118.37	+0.029%	$15.7M	$31.0M	20x	as long as short
Extended BABA_24_5-USD	+0.0176%	1h	118.34	0.000%	$43K	$357K	10x	as long as short
Phoenix BABA	+0.0271%	1h	118.37	+0.025%	$66K	$90K	10x	as long as short