Funding you earn now, next payment 06:00 UTC−0.0164%/8h= −18.0% APRnext payment −$0.21 per $10,000 · paid last 24h +0.067%
Price spread now: Arcus against Phoenix−0.026%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Arcus is 0.026% cheaper against Phoenix than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BABA | 116.77 | 0.0204 | pay 0.0026% / 1h | 25m 13s | $65K | $89K | 10x |
| Short | Arcus BABA-USD | 116.74 | 0.0040 | get 0.0005% / 1h | 25m 13s | $71K | $110K | 10x |
Phoenix BABA
Arcus BABA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- −$34.44
- Price spread: −0.026% → 0.000%
- −$2.57
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$48.51
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Arcus: live order book, 9 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 9 min ago | 5.56 bp | 10.1 bp −$10 | 12.4 bp −$124 | doesn't fit | doesn't fit |
Phoenix: 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 | 116.95 | +0.151% | $68K | $36K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.89 | +0.103% | $2.1M | $733K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.82 | +0.043% | $1.5M | $2.0M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.84 | +0.060% | $2.4M | $1.8M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.81 | +0.034% | $609 | $3.3M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.86 | +0.077% | $30K | $19K | 20x | as long as short |
| GRVT BABA_USDT_Perp | +0.0027% | 8h | 116.77 | −0.001% | $2K | $194K | 10x | as long as short |
| Lighter BABA | +0.0032% | 1h | 116.86 | +0.077% | $372K | $72K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.82 | +0.043% | $433K | $511K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.796% | $11K | $26K | 12x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
GRVT BABA_USDT_Perp
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus BABA-USDshort | +0.0040% | 1h | 116.74 | −0.026% | $71K | $110K | 10x | |
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.79 | +0.017% | — | $19K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 116.71 | −0.051% | $11.7M | $4.4M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 116.72 | −0.043% | $8K | $285K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.61 | −0.137% | $227K | $420K | 10x | as long as short |
| Variational Omni BABA | +0.0053% | 8h | 116.82 | +0.042% | $364K | $753K | — | as long as short |
| QFEX BABA-USD | +0.0063% | 1h | 116.78 | +0.009% | $1.2M | $3.1M | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.79 | +0.017% | $607K | $391K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.81 | +0.034% | $2K | $798 | 10x | as long as short |
| Extended BABA_24_5-USD | +0.0120% | 1h | 116.79 | +0.018% | $43K | $304K | 10x | as long as short |
| Binance BABAUSDT | +0.0122% | 8h | 116.84 | +0.059% | $15.1M | $32.5M | 20x | as long as short |
| Phoenix BABAlong | +0.0204% | 1h | 116.77 | long leg | $65K | $89K | 10x |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
Variational Omni BABA
QFEX BABA-USD
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Extended BABA_24_5-USD
Binance BABAUSDT