Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Aster−0.181%7-day average — · you buy dearer than you sell

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

Long on Aster Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropAster: Stage 5 · Lighter RH: Points live · farm boardneeds both histories

Funding pays, the price is against you. Lighter RH is 0.181% cheaper against Aster than usual: you would sell low and buy high (spread −0.181% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 19 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	Aster BABAUSDT	117.59	0	get 0.0000% / 8h	2h 01m	$69K	$36K	20x
Short	Lighter RH BABA	117.38	0.0032	get 0.0004% / 1h	1m 54s	$435K	$514K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Aster. 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 AsterbpFee Lighter RHbpOrdersPrice spread, now −0.181%Rate

Funding earned: $6.72
Price spread: −0.181% → 0.000%: −$18.13
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$19.41
Costs to cover: 0.080%
Break-even: 27.2 days

Slippage unknown: Aster: no order-book sample; Lighter RH: live order book, 45 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 Aster no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 45 min ago	1.69 bp	2.3 bp −$2	14.0 bp −$140	doesn't fit	doesn't fit

Aster: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 BABAUSDTlong	0.0000%	8h	117.59	long leg	$69K	$36K	20x
Bybit BABAUSDT	0.0000%	8h	117.38	−0.181%	$2.1M	$730K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	117.42	−0.147%	$1.5M	$2.0M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	117.46	−0.113%	$2.4M	$1.8M	20x	as long as short
SunX BABA-USDT	0.0000%	8h	117.44	−0.130%	$639	$3.3M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	117.78	+0.159%	$30K	$18K	20x	as long as short
Lighter BABA	+0.0032%	1h	117.48	−0.096%	$374K	$73K	10x	as long as short
Lighter RH BABAshort	+0.0032%	1h	117.38	−0.181%	$435K	$514K	10x
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−1.491%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	117.50	−0.079%	$71K	$110K	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	117.39	−0.173%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	117.34	−0.215%	$11.9M	$4.4M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	117.35	−0.207%	$8K	$285K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	117.32	−0.232%	$238K	$404K	10x	as long as short
QFEX BABA-USD	+0.0073%	1h	117.37	−0.190%	$1.2M	$3.2M	10x	as long as short
GRVT BABA_USDT_Perp	+0.0082%	8h	117.73	+0.119%	$3K	$193K	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	117.36	−0.198%	$611K	$416K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	117.44	−0.130%	$2K	$798	10x	as long as short
Variational Omni BABA	+0.0108%	8h	117.67	+0.069%	$265K	$658K	—	as long as short
Extended BABA_24_5-USD	+0.0168%	1h	117.32	−0.236%	$44K	$355K	10x	as long as short
Binance BABAUSDT	+0.0169%	8h	117.37	−0.187%	$15.5M	$31.7M	20x	as long as short
Phoenix BABA	+0.0271%	1h	117.65	+0.048%	$66K	$90K	10x	as long as short