BABA

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0079%/8h= −8.6% APRpaid last 24h −0.011%

Price spread now: Binance against Phoenix+0.016%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$450.445% of the position

What this pair did over the last

the charts below follow

Funding, last 7 days−0.219%−$22 on $10k

Price spread, last 4 days (all we have)+0.202%+$20 · spread now +0.016%, 7d avg +0.035%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix BABA	119.70	0.0201	pay 0.0025% / 1h	47m 04s	$67K	$100K	10x
Short	Binance BABAUSDT	119.72	0.0122	get 0.0122% / 8h	4h 47m	$15.0M	$34.8M	20x

Funding history

latest

Range statsloading…

Binance against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Position, each leg$Hold fordaysFee PhoenixbpFee BinancebpOrdersPrice spread, now +0.016%Rate

Slippage from Phoenix: live order book, 64 min ago; Binance: live order book, 3 min ago.

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Phoenix live order book, 64 min ago	4.18 bp	13.1 bp −$13	28.6 bp −$286	doesn't fit	doesn't fit
Sell Binance live order book, 3 min ago	0.42 bp	9.5 bp −$9	27.6 bp −$276	111.4 bp −$11.1K	doesn't fit

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	119.69	−0.007%	$70K	$61K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	119.77	+0.058%	$2.1M	$736K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	119.70	0.000%	$1.5M	$2.1M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	119.79	+0.075%	$2.3M	$2.3M	20x	as long as short
GRVT BABA_USDT_Perp	0.0000%	8h	119.62	−0.069%	$2K	$187K	10x	as long as short
SunX BABA-USDT	0.0000%	8h	119.59	−0.092%	$703	$2.4M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	119.65	−0.042%	$30K	$19K	20x	as long as short
QFEX BABA-USD	+0.0023%	1h	119.61	−0.075%	$1.3M	$2.8M	10x	as long as short
Lighter BABA	+0.0032%	1h	119.73	+0.025%	$384K	$74K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	119.72	+0.017%	$397K	$495K	10x	as long as short

Show all 22 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−3.225%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	119.55	−0.125%	$71K	$104K	10x	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	119.71	+0.008%	—	$19K	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	119.59	−0.092%	$8K	$171K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	119.51	−0.159%	$184K	$476K	10x	as long as short
tradeXYZ xyz:BABA	+0.0078%	1h	119.70	0.000%	$12.1M	$4.9M	10x	as long as short
Variational Omni BABA	+0.0080%	8h	119.68	−0.018%	$393K	$774K	—	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	119.51	−0.159%	$623K	$581K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	119.60	−0.084%	$2K	$798	10x	as long as short
Extended BABA_24_5-USD	+0.0120%	1h	119.68	−0.018%	$65K	$371K	10x	as long as short
Binance BABAUSDTshort	+0.0122%	8h	119.72	+0.016%	$15.0M	$34.8M	20x
Phoenix BABAlong	+0.0201%	1h	119.70	long leg	$67K	$100K	10x