Funding you earn now, next payment 06:00 UTC−0.0204%/8h= −22.4% APRpaid last 24h −0.074%
Price spread now: SunX against Phoenix−0.102%69s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.434%−$43 on $10k
+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 −$6 a day on $10k at the current rate, and SunX is 0.102% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 69 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 | 117.24 | 0.0204 | pay 0.0026% / 1h | 41m 51s | $66K | $89K | 10x |
| Short | SunX BABA-USDT | 117.12 | 0 | get 0.0000% / 8h | 1h 41m | $584 | $3.3M | 20x |
Phoenix BABA
SunX BABA-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
SunX 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
- −$42.9
- Price spread: −0.102% → 0.000%
- −$10.24
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee SunX: 4 bp × 2 orders
- −$8
- Net
- −$68.14
- Costs to cover
- 0.150%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; SunX: live order book, 6 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 SunX live order book, 6 min ago | 45.61 bp | 64.2 bp −$64 | doesn't fit | 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 | 117.26 | +0.016% | $69K | $36K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 117.07 | −0.145% | $2.1M | $732K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 117.09 | −0.128% | $1.5M | $2.0M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 117.04 | −0.171% | $2.4M | $1.8M | 20x | as long as short |
| SunX BABA-USDTshort | 0.0000% | 8h | 117.12 | −0.102% | $584 | $3.3M | 20x | |
| HTX BABA-USDT | 0.0000% | 8h | 117.34 | +0.085% | $30K | $19K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 117.21 | −0.026% | $373K | $72K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 117.11 | −0.111% | $434K | $510K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −1.194% | $11K | $26K | 12x | as long as short |
| Arcus BABA-USD | +0.0040% | 1h | 117.13 | −0.094% | $71K | $110K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
HTX BABA-USDT
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERP
Arcus BABA-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 117.12 | −0.102% | — | $19K | 10x | as long as short |
| GRVT BABA_USDT_Perp | +0.0049% | 8h | 117.30 | +0.051% | $2K | $193K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 116.91 | −0.281% | $11.7M | $4.4M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 117.03 | −0.179% | $8K | $285K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 117.02 | −0.188% | $225K | $417K | 10x | as long as short |
| QFEX BABA-USD | +0.0063% | 1h | 117.09 | −0.128% | $1.2M | $3.1M | 10x | as long as short |
| Variational Omni BABA | +0.0077% | 8h | 117.23 | −0.009% | $264K | $658K | — | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 117.09 | −0.128% | $610K | $405K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 117.12 | −0.102% | $2K | $798 | 10x | as long as short |
| Extended BABA_24_5-USD | +0.0136% | 1h | 117.06 | −0.153% | $43K | $355K | 10x | as long as short |
| Binance BABAUSDT | +0.0136% | 8h | 117.00 | −0.202% | $15.2M | $32.2M | 20x | as long as short |
| Phoenix BABAlong | +0.0204% | 1h | 117.24 | long leg | $66K | $89K | 10x |
Vest BABA-USD-PERP
GRVT BABA_USDT_Perp
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
Variational Omni BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Extended BABA_24_5-USD
Binance BABAUSDT