Funding you earn now, next payment 01:00 UTC+0.0105%/8h= +11.5% APRpaid last 24h +0.047%
Price spread now: Phoenix against Orderly+0.077%66s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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—needs both histories
Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phoenix is 0.077% dearer against Orderly than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_BABA_USDC_mythos | 116.74 | 0.0100 | pay 0.0100% / 8h | 6h 16m | $2K | $798 | 10x |
| Short | Phoenix BABA | 116.83 | 0.0205 | get 0.0026% / 1h | 16m 22s | $65K | $71K | 10x |
Orderly PERP_BABA_USDC_mythos
Phoenix BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Orderly. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $22.05
- Price spread: +0.077% → 0.000%
- $7.71
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $16.76
- Costs to cover
- 0.130%
- Break-even
- 1.7 days
Slippage unknown: Orderly: no order-book sample; Phoenix: live order book, 44 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phoenix live order book, 44 min ago | 4.27 bp | 12.9 bp −$13 | 28.7 bp −$287 | doesn't fit | doesn't fit |
Orderly: 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 | 116.86 | +0.101% | $77K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.77 | +0.026% | $2.1M | $556K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.73 | −0.009% | $1.5M | $1.6M | 50x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.87 | +0.111% | $731 | $3.8M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 117.22 | +0.411% | $37K | $2K | 20x | as long as short |
| GRVT BABA_USDT_Perp | +0.0003% | 8h | 117.21 | +0.406% | $3K | $224K | 10x | as long as short |
| Lighter BABA | +0.0032% | 1h | 116.74 | 0.000% | $384K | $45K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.83 | +0.077% | $423K | $499K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.771% | $11K | $26K | 12x | as long as short |
| QFEX BABA-USD | +0.0035% | 1h | 116.72 | −0.017% | $1.2M | $4.5M | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
SunX BABA-USDT
HTX BABA-USDT
GRVT BABA_USDT_Perp
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERP
QFEX BABA-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus BABA-USD | +0.0040% | 1h | 116.94 | +0.171% | $74K | $100K | 10x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.72 | −0.017% | — | $18K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 116.63 | −0.094% | $12.1M | $3.5M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 116.66 | −0.069% | $10K | $264K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.60 | −0.120% | $239K | $366K | 10x | as long as short |
| Bitget BABAUSDT | +0.0078% | 8h | 116.80 | +0.051% | $2.5M | $1.3M | 20x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.64 | −0.086% | $608K | $529K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythoslong | +0.0100% | 8h | 116.74 | long leg | $2K | $798 | 10x | |
| Variational Omni BABA | +0.0138% | 8h | 117.23 | +0.423% | $264K | $658K | — | as long as short |
| Extended BABA_24_5-USD | +0.0192% | 1h | 116.69 | −0.045% | $43K | $366K | 10x | as long as short |
| Binance BABAUSDT | +0.0194% | 8h | 116.75 | +0.009% | $15.6M | $23.5M | 20x | as long as short |
| Phoenix BABAshort | +0.0205% | 1h | 116.83 | +0.077% | $65K | $71K | 10x |
Arcus BABA-USD
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
Bitget BABAUSDT
KuCoin BABAUSDTM
Variational Omni BABA
Extended BABA_24_5-USD
Binance BABAUSDT