Funding you earn now, next payment 10:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.028%
Price spread now: Variational Omni against Phoenix−0.105%114s7-day average +0.029% · 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)−0.070%−$7 on $10k
+Price spread, last 4 days (all we have)+0.120%+$12 · spread now −0.105%, 7d avg +0.029%
=Together, before fees+0.050%+ Points / potential airdropVariational Omni: Active · farm board+$5 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.134% cheaper against Phoenix than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.029%). Swap the legs. The two prices were read 114 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 | 119.76 | 0.0267 | pay 0.0033% / 1h | 49m 39s | $67K | $109K | 10x |
| Short | Variational Omni BABA | 119.63 | 0.0221 | get 0.0221% / 8h | 5h 49m | $374K | $672K | — |
Phoenix BABA
Variational Omni BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$9.68
- Price spread: −0.105% → +0.029%
- −$13.39
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$30.07
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 1 min ago; Variational Omni: RFQ quote, 62 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 live order book, 1 min ago | 4.18 bp | 13.1 bp −$13 | 28.6 bp −$286 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 62 min ago | 2.49 bp | doesn't fit | 17.8 bp −$178 | doesn't fit | doesn't fit |
BABA on 22 exchanges
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 | 119.57 | −0.160% | $70K | $40K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 119.64 | −0.100% | $2.2M | $711K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 119.60 | −0.134% | $1.5M | $2.0M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 119.60 | −0.134% | $2.3M | $2.2M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 119.63 | −0.109% | $708 | $2.5M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 119.77 | +0.008% | $30K | $19K | 20x | as long as short |
| QFEX BABA-USD | +0.0029% | 1h | 119.55 | −0.175% | $1.2M | $2.9M | 10x | as long as short |
| Lighter BABA | +0.0032% | 1h | 119.70 | −0.050% | $383K | $73K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 119.56 | −0.167% | $435K | $509K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −3.273% | $11K | $26K | 12x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
QFEX BABA-USD
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERPShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus BABA-USD | +0.0040% | 1h | 119.52 | −0.200% | $71K | $134K | 10x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 119.75 | −0.008% | — | $19K | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 119.51 | −0.209% | $8K | $177K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 119.60 | −0.134% | $213K | $446K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0080% | 1h | 119.57 | −0.159% | $12.0M | $4.8M | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 119.56 | −0.167% | $623K | $518K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 119.62 | −0.117% | $2K | $798 | 10x | as long as short |
| Variational Omni BABAshort | +0.0221% | 8h | 119.63 | −0.105% | $374K | $672K | — | |
| GRVT BABA_USDT_Perp | +0.0249% | 8h | 119.78 | +0.016% | $3K | $180K | 10x | as long as short |
| Binance BABAUSDT | +0.0261% | 8h | 119.59 | −0.142% | $15.1M | $33.8M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0264% | 1h | 119.55 | −0.175% | $47K | $312K | 10x | as long as short |
| Phoenix BABAlong | +0.0267% | 1h | 119.76 | long leg | $67K | $109K | 10x |
Arcus BABA-USD
Vest BABA-USD-PERP
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
tradeXYZ xyz:BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
GRVT BABA_USDT_Perp
Binance BABAUSDT
Extended BABA_24_5-USD