Funding you earn now, next payment 22:00 UTC−0.0243%/8h= −26.6% APRnext payment −$0.30 per $10,000 · paid last 24h −0.061%
Price spread now: Injective against Phoenix−0.078%112s7-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 −$7 a day on $10k at the current rate, and Injective is 0.078% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 112 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 | Phoenix BABA | 115.93 | 0.0276 | pay 0.0034% / 1h | 47m 33s | $79K | $129K | 10x |
| Short | Injective BABA/USDC PERP | 115.84 | 0.0033 | get 0.0004% / 1h | 47m 33s | $11K | $26K | 12x |
Phoenix BABA
Injective BABA/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$50.95
- Price spread: −0.078% → 0.000%
- −$7.76
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$65.73
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 28 min ago; Injective: 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 Phoenix live order book, 28 min ago | 2.58 bp | 10.5 bp −$10 | 21.9 bp −$219 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | 116.00 | +0.060% | $75K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.01 | +0.069% | $2.2M | $614K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 115.96 | +0.026% | $1.4M | $1.7M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 115.95 | +0.017% | $2.5M | $1.3M | 20x | as long as short |
| Variational Omni BABA | 0.0000% | 8h | 115.96 | +0.022% | $300K | $620K | — | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 115.97 | +0.034% | $3K | $261K | 10x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 115.97 | +0.035% | $508 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.02 | +0.078% | $37K | $2K | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0008% | 1h | 115.95 | +0.020% | $42K | $383K | 10x | as long as short |
| Binance BABAUSDT | +0.0010% | 8h | 115.97 | +0.036% | $15.3M | $21.1M | 20x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
Variational Omni BABA
GRVT BABA_USDT_Perp
SunX BABA-USDT
HTX BABA-USDT
Extended BABA_24_5-USD
Binance BABAUSDTShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter BABA | +0.0032% | 1h | 116.07 | +0.121% | $384K | $49K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 115.90 | −0.026% | $445K | $590K | 10x | as long as short |
| Injective BABA/USDC PERPshort | +0.0033% | 1h | 115.84 | −0.078% | $11K | $26K | 12x | |
| QFEX BABA-USD | +0.0035% | 1h | 115.86 | −0.060% | $1.2M | $5.1M | 10x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 115.89 | −0.035% | — | $9K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 115.91 | −0.017% | $12.1M | $3.0M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 115.85 | −0.069% | $10K | $263K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 115.89 | −0.035% | $249K | $336K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 115.89 | −0.035% | $601K | $654K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 115.94 | +0.009% | $2K | $1K | 10x | as long as short |
| Phoenix BABAlong | +0.0276% | 1h | 115.93 | long leg | $79K | $129K | 10x | |
| Arcus BABA-USD | +0.0462% | 1h | 115.94 | +0.009% | $79K | $93K | 10x | as long as short |
Lighter BABA
Lighter RH BABA
QFEX BABA-USD
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Arcus BABA-USD