BABA

Alert

Funding spread now, next payment 18:00 UTC+0.0226%/8h

next payment, per $10,000+$0.28paid, last 24h+0.037%paid, last 5 days+0.059%to open and close $10k−$34

Long on Polymarket Perps Short on Phoenix

The current rate is far above what this pair has been paying: over the last 5 days it paid 0.059% in total (about 4.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.28 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BABA-USD	115.88	0.0050	pay 0.0006% / 1h	11m 03s	$8K	$252K	10x
Short	Phoenix BABA	115.97	0.0276	get 0.0034% / 1h	11m 03s	$79K	$129K	10x

Funding history

latest

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Funding on every exchange

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latest

Profit calculator

Position, each leg$Hold fordaysFee Polymarket PerpsbpFee PhoenixbpOrdersRate

Funding earned: $47.41
Slippage, 4 orders: −$19.14
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $13.27
Break-even: 5.0 days

Slippage from Polymarket Perps: live order book, 23 min ago; Phoenix: live order book, 20 min ago.

Price risk

price view

Price gap now: +0.078%
Avg gap 7d: +0.036%

A gap far from its average can cost days of funding.

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

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 Polymarket Perps live order book, 23 min ago	1.73 bp	8.3 bp −$8	8.3 bp −$83	doesn't fit	doesn't fit
Sell Phoenix live order book, 20 min ago	2.59 bp	10.1 bp −$10	20.8 bp −$208	doesn't fit	doesn't fit

BABA on 21 venues

lowest funding first. Swap a leg.

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Aster BABAUSDT	0.0000%	8h	$73K	$25K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	$2.2M	$570K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	$1.4M	$1.5M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	$2.5M	$1.3M	20x	as long as short
Variational Omni BABA	0.0000%	8h	$337K	$558K	—	as long as short
SunX BABA-USDT	0.0000%	8h	$780	$4.2M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	$37K	$2K	20x	as long as short
Lighter BABA	+0.0032%	1h	$384K	$44K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	$456K	$444K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	$11K	$26K	12x	as long as short

Show all 21 venues

Exchange	Funding /8h	Every	OI	Vol 24h	Max lev
Extended BABA_24_5-USD	+0.0040%	1h	$18K	$359K	10x	as long as short
Binance BABAUSDT	+0.0042%	8h	$15.5M	$19.5M	20x	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	—	$9K	10x	as long as short
Polymarket Perps BABA-USDlong	+0.0050%	1h	$8K	$252K	10x
Ondo Perps BABA-USD.P	+0.0050%	1h	$274K	$289K	10x	as long as short
QFEX BABA-USD	+0.0052%	1h	$1.2M	$4.9M	10x	as long as short
tradeXYZ xyz:BABA	+0.0074%	1h	$12.1M	$2.9M	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	$603K	$790K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	$2K	$1K	10x	as long as short
Phoenix BABAshort	+0.0276%	1h	$79K	$129K	10x
Arcus BABA-USD	+0.0683%	1h	$79K	$92K	10x	as long as short