Funding you earn now, next payment 23:00 UTC+0.0175%/8h= +19.1% APRpaid last 24h +0.032%
Price spread now: Phoenix against Variational Omni+0.026%7-day average −0.027% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.059%+$6 on $10k
+Price spread, last 3 days (all we have)−0.034%−$3 · spread now +0.026%, 7d avg −0.027%
=Together, before fees+0.025%+ Points / potential airdropVariational Omni: Active · farm board+$3 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.053% dearer against Variational Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.027%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Variational Omni BABA | 116.32 | 0.0101 | pay 0.0101% / 8h | 19m 21s | $301K | $620K | — |
| Short | Phoenix BABA | 116.35 | 0.0276 | get 0.0034% / 1h | 19m 21s | $65K | $143K | 10x |
Variational Omni BABA
Phoenix BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Variational Omni. 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
- $36.7
- Price spread: +0.026% → −0.027%
- $5.33
- Slippage, 4 orders
- no order book: not counted
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $35.03
- Costs to cover
- 0.070%
- Break-even
- 0.3 days
Slippage unknown: Variational Omni: RFQ quote, 60 min ago; Phoenix: live order book, 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 Variational Omni RFQ quote, 60 min ago | 2.54 bp | doesn't fit | 26.2 bp −$262 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 51 min ago | 2.58 bp | 10.5 bp −$10 | 21.9 bp −$219 | 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 | 116.30 | −0.019% | $75K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.39 | +0.061% | $2.2M | $601K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.41 | +0.078% | $1.4M | $1.7M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.40 | +0.069% | $2.5M | $1.4M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.44 | +0.104% | $674 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.42 | +0.087% | $37K | $2K | 20x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.36 | +0.035% | $446K | $590K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.412% | $11K | $26K | 12x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.25 | −0.060% | — | $9K | 10x | as long as short |
| QFEX BABA-USD | +0.0047% | 1h | 116.35 | +0.026% | $1.2M | $5.2M | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
Lighter RH BABA
Injective BABA/USDC PERP
Vest BABA-USD-PERP
QFEX BABA-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Polymarket Perps BABA-USD | +0.0050% | 1h | 116.27 | −0.042% | $10K | $264K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.10 | −0.189% | $242K | $353K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.26 | −0.051% | $603K | $583K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.39 | +0.061% | $2K | $1K | 10x | as long as short |
| Variational Omni BABAlong | +0.0101% | 8h | 116.32 | long leg | $301K | $620K | — | |
| GRVT BABA_USDT_Perp | +0.0109% | 8h | 116.30 | −0.014% | $2K | $246K | 10x | as long as short |
| Lighter BABA | +0.0112% | 1h | 116.55 | +0.198% | $385K | $50K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0141% | 1h | 116.31 | −0.008% | $12.1M | $3.1M | 10x | as long as short |
| Binance BABAUSDT | +0.0184% | 8h | 116.41 | +0.074% | $15.4M | $21.9M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0184% | 1h | 116.39 | +0.057% | $42K | $383K | 10x | as long as short |
| Phoenix BABAshort | +0.0276% | 1h | 116.35 | +0.026% | $65K | $143K | 10x | |
| Arcus BABA-USD | +0.0394% | 1h | 116.36 | +0.035% | $77K | $97K | 10x | as long as short |
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
GRVT BABA_USDT_Perp
Lighter BABA
tradeXYZ xyz:BABA
Binance BABAUSDT
Extended BABA_24_5-USD
Arcus BABA-USD