Funding you earn now, next payment 20:00 UTC−0.0295%/8h= −32.3% APRnext payment −$0.37 per $10,000 · paid last 24h −0.045%
Price spread now: Polymarket Perps against Phoenix−0.026%59s7-day average −0.039% · you buy dearer than you sell
Net, funding: paid 7d − costs−$71as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$410.412% of the position
Funding, last 7 days−0.302%−$30 on $10k
+Price spread, last 3 days (all we have)−0.001%$0 · spread now −0.026%, 7d avg −0.039%
=The price spread sits at its 7-day average of −0.039%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate. The two prices were read 59 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 | 115.97 | 0.0345 | pay 0.0043% / 1h | 31m 42s | $79K | $129K | 10x |
| Short | Polymarket Perps BABA-USD | 115.94 | 0.0050 | get 0.0006% / 1h | 31m 42s | $10K | $263K | 10x |
Phoenix BABA
Polymarket Perps BABA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps 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
- −$62.02
- Price spread: −0.026% → −0.039%
- $1.31
- Slippage, 4 orders
- −$26.23
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$101.94
- Costs to cover
- 0.412%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 10 min ago; Polymarket Perps: live order book, 15 min ago.
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, 10 min ago | 4.31 bp | 13.0 bp −$13 | 28.7 bp −$287 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 15 min ago | 2.59 bp | 7.0 bp −$7 | 7.4 bp −$74 | doesn't fit | doesn't fit |
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 | 116.04 | +0.063% | $73K | $25K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.00 | +0.026% | $2.2M | $600K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.04 | +0.060% | $1.4M | $1.6M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.01 | +0.034% | $2.5M | $1.3M | 20x | as long as short |
| Variational Omni BABA | 0.0000% | 8h | 115.95 | −0.020% | $289K | $606K | — | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.05 | +0.069% | $897 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.04 | +0.060% | $37K | $2K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 116.15 | +0.155% | $384K | $51K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.03 | +0.052% | $450K | $583K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.112% | $11K | $26K | 12x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
Variational Omni BABA
SunX BABA-USDT
HTX BABA-USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 115.99 | +0.017% | — | $9K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 115.98 | +0.009% | $12.1M | $3.0M | 10x | as long as short |
| Polymarket Perps BABA-USDshort | +0.0050% | 1h | 115.94 | −0.026% | $10K | $263K | 10x | |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 115.90 | −0.060% | $248K | $328K | 10x | as long as short |
| QFEX BABA-USD | +0.0065% | 1h | 116.03 | +0.052% | $1.2M | $4.9M | 10x | as long as short |
| Extended BABA_24_5-USD | +0.0080% | 1h | 116.03 | +0.056% | $18K | $359K | 10x | as long as short |
| Binance BABAUSDT | +0.0082% | 8h | 116.05 | +0.070% | $15.5M | $19.9M | 20x | as long as short |
| GRVT BABA_USDT_Perp | +0.0089% | 8h | 116.00 | +0.026% | $3K | $270K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 115.96 | −0.009% | $602K | $723K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.04 | +0.060% | $2K | $1K | 10x | as long as short |
| Phoenix BABAlong | +0.0345% | 1h | 115.97 | long leg | $79K | $129K | 10x | |
| Arcus BABA-USD | +0.0765% | 1h | 116.03 | +0.052% | $79K | $93K | 10x | as long as short |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Ondo Perps BABA-USD.P
QFEX BABA-USD
Extended BABA_24_5-USD
Binance BABAUSDT
GRVT BABA_USDT_Perp
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Arcus BABA-USD