Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: HTX against Lighter RH+0.025%7-day average — · you sell dearer than you buy

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

Long on Lighter RH Short on HTX

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 RH: Points live · farm boardneeds both histories

The price spread pays, funding is against you. HTX is 0.025% dearer against Lighter RH than usual: you sell high and buy low (spread +0.025% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH BABA	118.40	0.0032	pay 0.0004% / 1h	7m 52s	$438K	$508K	10x
Short	HTX BABA-USDT	118.43	0	get 0.0000% / 8h	4h 07m	$30K	$18K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$6.72
Price spread: +0.025% → 0.000%: $2.53
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$16.19
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Lighter RH: live order book, 49 min ago; HTX: no order-book sample. 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 Lighter RH live order book, 49 min ago	3.35 bp	3.6 bp −$4	14.6 bp −$146	doesn't fit	doesn't fit
Sell HTX no order-book sample	—	—	—	—	—

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	118.38	−0.018%	$70K	$35K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	118.43	+0.025%	$2.1M	$698K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	118.46	+0.051%	$1.5M	$1.9M	50x	as long as short
SunX BABA-USDT	0.0000%	8h	118.46	+0.051%	$892	$3.4M	20x	as long as short
HTX BABA-USDTshort	0.0000%	8h	118.43	+0.025%	$30K	$18K	20x
GRVT BABA_USDT_Perp	+0.0013%	8h	118.40	0.000%	$3K	$216K	10x	as long as short
Lighter BABA	+0.0032%	1h	118.47	+0.059%	$377K	$73K	10x	as long as short
Lighter RH BABAlong	+0.0032%	1h	118.40	long leg	$438K	$508K	10x
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.162%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	118.32	−0.068%	$72K	$109K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest BABA-USD-PERP	+0.0046%	1h	118.46	+0.051%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	118.37	−0.025%	$11.9M	$4.2M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	118.37	−0.025%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.34	−0.051%	$238K	$407K	10x	as long as short
QFEX BABA-USD	+0.0068%	1h	118.40	0.000%	$1.2M	$4.1M	10x	as long as short
Variational Omni BABA	+0.0069%	8h	118.35	−0.040%	$266K	$658K	—	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.31	−0.076%	$616K	$476K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	118.42	+0.017%	$2K	$798	10x	as long as short
Extended BABA_24_5-USD	+0.0136%	1h	118.43	+0.029%	$44K	$358K	10x	as long as short
Binance BABAUSDT	+0.0138%	8h	118.46	+0.049%	$15.6M	$30.3M	20x	as long as short
Phoenix BABA	+0.0201%	1h	118.30	−0.084%	$66K	$90K	10x	as long as short
Bitget BABAUSDT	+0.0516%	8h	118.44	+0.034%	$2.4M	$1.7M	20x	as long as short