Funding you earn now, next payment 02:00 UTC−0.0153%/8h= −16.8% APRnext payment −$0.19 per $10,000 · paid last 24h −0.054%
Price spread now: tradeXYZ against Phoenix−0.900%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.260%−$26 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and tradeXYZ is 0.900% cheaper against Phoenix than usual: you would sell low and buy high (−$90 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 | 120.05 | 0.0203 | pay 0.0025% / 1h | 25m 23s | $67K | $68K | 10x |
| Short | tradeXYZ xyz:BABA | 118.97 | 0.0050 | get 0.0006% / 1h | 25m 23s | $12.0M | $3.9M | 10x |
Phoenix BABA
tradeXYZ xyz:BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ 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
- −$32.22
- Price spread: −0.900% → 0.000%
- −$89.96
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$147.18
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; tradeXYZ: live order book, 2 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 tradeXYZ live order book, 2 min ago | 1.68 bp | 11.6 bp −$12 | 16.7 bp −$167 | 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 | 119.13 | −0.765% | $78K | $28K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 119.14 | −0.758% | $2.2M | $643K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 119.06 | −0.825% | $1.5M | $1.7M | 50x | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 119.39 | −0.551% | $3K | $218K | 10x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 119.25 | −0.666% | $863 | $3.6M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 119.97 | −0.067% | $30K | $18K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 119.04 | −0.841% | $379K | $72K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 118.95 | −0.916% | $428K | $507K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −3.507% | $11K | $26K | 12x | as long as short |
| Arcus BABA-USD | +0.0040% | 1h | 119.42 | −0.525% | $72K | $109K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
GRVT BABA_USDT_Perp
SunX BABA-USDT
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 | 119.18 | −0.725% | — | $19K | 10x | as long as short |
| tradeXYZ xyz:BABAshort | +0.0050% | 1h | 118.97 | −0.900% | $12.0M | $3.9M | 10x | |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 118.97 | −0.900% | $10K | $264K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 118.95 | −0.916% | $238K | $395K | 10x | as long as short |
| QFEX BABA-USD | +0.0061% | 1h | 119.01 | −0.866% | $1.2M | $4.4M | 10x | as long as short |
| Variational Omni BABA | +0.0092% | 8h | 119.27 | −0.653% | $268K | $658K | — | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 119.08 | −0.808% | $620K | $512K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 119.29 | −0.633% | $2K | $798 | 10x | as long as short |
| Binance BABAUSDT | +0.0150% | 8h | 119.11 | −0.784% | $16.0M | $27.7M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0152% | 1h | 119.05 | −0.830% | $44K | $368K | 10x | as long as short |
| Phoenix BABAlong | +0.0203% | 1h | 120.05 | long leg | $67K | $68K | 10x | |
| Bitget BABAUSDT | +0.0912% | 8h | 119.04 | −0.841% | $2.5M | $1.5M | 20x | as long as short |
Vest BABA-USD-PERP
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
Variational Omni BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Binance BABAUSDT
Extended BABA_24_5-USD
Bitget BABAUSDT