Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0204%/8h= +22.4% APRpaid last 24h +0.074%

Price spread now: Phoenix against Aster−0.092%55s7-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 Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.434%+$43 on $10k

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

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

Funding pays, the price is against you. Phoenix is 0.092% cheaper against Aster than usual: you would sell low and buy high (spread −0.092% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 36 hours of funding at the current rate (+$6 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BABAUSDT	117.03	0	get 0.0000% / 8h	1h 02m	$68K	$36K	20x
Short	Phoenix BABA	116.92	0.0204	get 0.0026% / 1h	2m 29s	$65K	$89K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.092%Rate

Funding earned: $42.9
Price spread: −0.092% → 0.000%: −$9.21
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $18.69
Costs to cover: 0.150%
Break-even: 4.0 days

Slippage unknown: Aster: no order-book sample; Phoenix: no order-book sample. 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 Phoenix no order-book sample	—	—	—	—	—

Aster and Phoenix: 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	117.03	long leg	$68K	$36K	20x
Bybit BABAUSDT	0.0000%	8h	116.97	−0.049%	$2.1M	$731K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	116.96	−0.058%	$1.5M	$2.1M	50x	as long as short
Bitget BABAUSDT	0.0000%	8h	116.94	−0.075%	$2.3M	$1.9M	20x	as long as short
SunX BABA-USDT	0.0000%	8h	116.94	−0.075%	$748	$3.2M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	116.99	−0.032%	$30K	$19K	20x	as long as short
GRVT BABA_USDT_Perp	+0.0020%	8h	116.99	−0.032%	$2K	$192K	10x	as long as short
Lighter BABA	+0.0032%	1h	117.01	−0.015%	$372K	$72K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	116.93	−0.084%	$434K	$512K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−1.015%	$11K	$26K	12x	as long as short

Show all 22 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Arcus BABA-USD	+0.0040%	1h	116.90	−0.109%	$71K	$110K	10x	as long as short
Variational Omni BABA	+0.0042%	8h	116.95	−0.063%	$364K	$747K	—	as long as short
Vest BABA-USD-PERP	+0.0046%	1h	116.93	−0.084%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	116.87	−0.135%	$11.7M	$4.5M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	116.88	−0.126%	$8K	$285K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	116.88	−0.126%	$229K	$427K	10x	as long as short
QFEX BABA-USD	+0.0063%	1h	116.95	−0.066%	$1.3M	$3.0M	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	116.92	−0.092%	$608K	$381K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	116.94	−0.075%	$2K	$798	10x	as long as short
Binance BABAUSDT	+0.0111%	8h	116.98	−0.041%	$15.1M	$32.5M	20x	as long as short
Extended BABA_24_5-USD	+0.0112%	1h	116.95	−0.069%	$44K	$293K	10x	as long as short
Phoenix BABAshort	+0.0204%	1h	116.92	−0.092%	$65K	$89K	10x