Funding you earn now, next payment 10:00 UTC+0.0227%/8h= +24.8% APRnext payment +$0.28 per $10,000 · paid last 24h −0.060%
Price spread now: Phoenix against Arcus+0.117%7-day average −0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$410.414% of the position
Funding, last 4 days (all we have)−0.103%−$10 on $10k
+Price spread, last 4 days (all we have)−0.146%−$15 · spread now +0.117%, 7d avg −0.011%
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Phoenix is 0.129% dearer against Arcus than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.011%. Mind the row above: over the last 4 days funding on this pair cost −0.103%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Arcus BABA-USD | 119.21 | 0.0040 | pay 0.0005% / 1h | 7m 14s | $71K | $104K | 10x |
| Short | Phoenix BABA | 119.35 | 0.0267 | get 0.0033% / 1h | 7m 14s | $67K | $109K | 10x |
Arcus BABA-USD
Phoenix BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Arcus. 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
- $47.63
- Price spread: +0.117% → −0.011%
- $12.86
- Slippage, 4 orders
- −$29.89
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $19.1
- Costs to cover
- 0.414%
- Break-even
- 4.2 days
Slippage from Arcus: live order book, 39 min ago; Phoenix: live order book, 44 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 Arcus live order book, 39 min ago | 4.18 bp | 8.8 bp −$9 | 10.3 bp −$103 | doesn't fit | doesn't fit |
| Sell Phoenix live order book, 44 min ago | 4.18 bp | 13.1 bp −$13 | 28.7 bp −$287 | 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 | 119.36 | +0.124% | $70K | $40K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 119.34 | +0.109% | $2.1M | $735K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 119.32 | +0.092% | $1.5M | $2.1M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 119.29 | +0.067% | $2.3M | $2.2M | 20x | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 119.24 | +0.028% | $3K | $184K | 10x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 119.29 | +0.067% | $910 | $2.5M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 119.33 | +0.101% | $30K | $19K | 20x | as long as short |
| QFEX BABA-USD | +0.0029% | 1h | 119.24 | +0.025% | $1.3M | $2.8M | 10x | as long as short |
| Lighter BABA | +0.0032% | 1h | 119.33 | +0.101% | $383K | $74K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 119.26 | +0.042% | $412K | $537K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
GRVT BABA_USDT_Perp
SunX BABA-USDT
HTX BABA-USDT
QFEX BABA-USD
Lighter BABA
Lighter RH BABAShow all 22 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −2.827% | $11K | $26K | 12x | as long as short |
| Arcus BABA-USDlong | +0.0040% | 1h | 119.21 | long leg | $71K | $104K | 10x | |
| Vest BABA-USD-PERP | +0.0046% | 1h | 119.34 | +0.109% | — | $19K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 119.27 | +0.050% | $12.0M | $4.9M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 119.23 | +0.017% | $9K | $167K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 119.21 | 0.000% | $181K | $478K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 119.16 | −0.042% | $621K | $560K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 119.25 | +0.034% | $2K | $798 | 10x | as long as short |
| Variational Omni BABA | +0.0104% | 8h | 119.20 | −0.005% | $364K | $642K | — | as long as short |
| Extended BABA_24_5-USD | +0.0128% | 1h | 119.26 | +0.040% | $25K | $329K | 10x | as long as short |
| Binance BABAUSDT | +0.0131% | 8h | 119.29 | +0.071% | $15.0M | $34.3M | 20x | as long as short |
| Phoenix BABAshort | +0.0267% | 1h | 119.35 | +0.117% | $67K | $109K | 10x |
Injective BABA/USDC PERP
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Variational Omni BABA
Extended BABA_24_5-USD
Binance BABAUSDT