Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.021%

Price spread now: Bybit against tradeXYZ+0.051%7-day average +0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$520.515% of the position

Long on tradeXYZ Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 7 days+0.004%$0 · spread now +0.051%, 7d avg +0.115%

Together, before fees−0.176%+ Points / potential airdroptradeXYZ: Active · farm board−$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bybit is 0.064% cheaper against tradeXYZ than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.115%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	tradeXYZ xyz:BABA	118.37	0.0050	pay 0.0006% / 1h	8m 06s	$11.9M	$4.2M	10x
Short	Bybit BABAUSDT	118.43	0	get 0.0000% / 8h	4h 08m	$2.1M	$698K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against tradeXYZ. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee tradeXYZbpFee BybitbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$10.5
Price spread: +0.051% → +0.115%: −$6.41
Slippage, 4 orders: −$22.54
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$68.45
Costs to cover: 0.515%
Break-even: never at this rate

Slippage from tradeXYZ: live order book, 10 min ago; Bybit: live order book, 4 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 tradeXYZ live order book, 10 min ago	1.27 bp	11.5 bp −$12	16.7 bp −$167	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.96 bp	11.5 bp −$12	95.7 bp −$957	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	118.38	+0.009%	$70K	$35K	20x	as long as short
Bybit BABAUSDTshort	0.0000%	8h	118.43	+0.051%	$2.1M	$698K	25x
Gate BABA_USDT	0.0000%	8h	118.46	+0.076%	$1.5M	$1.9M	50x	as long as short
SunX BABA-USDT	0.0000%	8h	118.46	+0.076%	$892	$3.4M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	118.43	+0.051%	$30K	$18K	20x	as long as short
GRVT BABA_USDT_Perp	+0.0013%	8h	118.40	+0.025%	$3K	$216K	10x	as long as short
Lighter BABA	+0.0032%	1h	118.47	+0.084%	$377K	$73K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	118.40	+0.025%	$438K	$508K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.137%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	118.32	−0.042%	$72K	$109K	10x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest BABA-USD-PERP	+0.0046%	1h	118.46	+0.076%	—	$19K	10x	as long as short
tradeXYZ xyz:BABAlong	+0.0050%	1h	118.37	long leg	$11.9M	$4.2M	10x
Polymarket Perps BABA-USD	+0.0050%	1h	118.37	0.000%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.34	−0.025%	$238K	$407K	10x	as long as short
QFEX BABA-USD	+0.0068%	1h	118.40	+0.025%	$1.2M	$4.1M	10x	as long as short
Variational Omni BABA	+0.0069%	8h	118.35	−0.014%	$266K	$658K	—	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.32	−0.042%	$617K	$477K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	118.42	+0.042%	$2K	$798	10x	as long as short
Extended BABA_24_5-USD	+0.0136%	1h	118.42	+0.042%	$44K	$358K	10x	as long as short
Binance BABAUSDT	+0.0138%	8h	118.46	+0.078%	$15.6M	$30.3M	20x	as long as short
Phoenix BABA	+0.0201%	1h	118.30	−0.059%	$66K	$90K	10x	as long as short
Bitget BABAUSDT	+0.0516%	8h	118.43	+0.051%	$2.4M	$1.7M	20x	as long as short