Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.033%

Price spread now: Variational Omni against tradeXYZ−0.014%7-day average +0.099% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on tradeXYZ Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.043%+$4 · spread now −0.014%, 7d avg +0.099%

Together, before fees+0.042%+ Points / potential airdroptradeXYZ: Active · Variational Omni: Active · farm board+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.113% cheaper against tradeXYZ than usual: you would sell low and buy high (spread −0.014% now, against its 7-day average of +0.099%). If the spread goes back, that is −$11 on $10k: about 20 days of funding at the current rate (+$1 a day).

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 07s	$11.9M	$4.2M	10x
Short	Variational Omni BABA	118.35	0.0069	get 0.0069% / 8h	4h 08m	$266K	$658K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.014%Rate

Funding earned: $4.05
Price spread: −0.014% → +0.099%: −$11.31
Slippage, 4 orders: no order book: not counted
Fee tradeXYZ: 9 bp × 2 orders: −$18
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$25.26
Costs to cover: 0.180%
Break-even: 50.6 days

Slippage unknown: tradeXYZ: live order book, 10 min ago; Variational Omni: RFQ quote, 51 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 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 Variational Omni RFQ quote, 51 min ago	4.52 bp	doesn't fit	24.7 bp −$247	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 BABAUSDT	0.0000%	8h	118.43	+0.051%	$2.1M	$698K	25x	as long as short
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 BABAshort	+0.0069%	8h	118.35	−0.014%	$266K	$658K	—
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