Funding arb · Price arb /

BABA

RWAall BABA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h +0.056%

Price spread now: Phoenix against Bitget−0.017%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.411%+$41 on $10k

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

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.411%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BABAUSDT	118.45	0.0306	pay 0.0306% / 8h	3h 26m	$2.4M	$1.7M	20x
Short	Phoenix BABA	118.43	0.0203	get 0.0025% / 1h	26m 55s	$66K	$90K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Bitget. 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 BitgetbpFee PhoenixbpOrdersPrice spread, now −0.017%Rate

Funding earned: −$21.67
Price spread: −0.017% → 0.000%: −$1.69
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$42.36
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 5 min ago; 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 Bitget live order book, 5 min ago	1.69 bp	14.8 bp −$15	23.3 bp −$233	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 BABAUSDT	0.0000%	8h	118.38	−0.055%	$70K	$35K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	118.48	+0.025%	$2.1M	$704K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	118.46	+0.008%	$1.5M	$1.9M	50x	as long as short
SunX BABA-USDT	0.0000%	8h	118.46	+0.008%	$739	$3.4M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	118.48	+0.025%	$30K	$18K	20x	as long as short
GRVT BABA_USDT_Perp	+0.0022%	8h	118.50	+0.041%	$3K	$193K	10x	as long as short
Lighter BABA	+0.0032%	1h	118.54	+0.076%	$377K	$73K	10x	as long as short
Lighter RH BABA	+0.0032%	1h	118.45	0.000%	$438K	$507K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.203%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	118.42	−0.025%	$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	118.49	+0.034%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	118.39	−0.051%	$12.0M	$4.2M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	118.40	−0.042%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.30	−0.127%	$238K	$406K	10x	as long as short
QFEX BABA-USD	+0.0056%	1h	118.43	−0.017%	$1.2M	$3.8M	10x	as long as short
Variational Omni BABA	+0.0066%	8h	118.51	+0.054%	$266K	$658K	—	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.29	−0.135%	$616K	$459K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	118.47	+0.017%	$2K	$798	10x	as long as short
Binance BABAUSDT	+0.0143%	8h	118.46	+0.012%	$15.7M	$30.7M	20x	as long as short
Extended BABA_24_5-USD	+0.0144%	1h	118.43	−0.015%	$43K	$354K	10x	as long as short
Phoenix BABAshort	+0.0203%	1h	118.43	−0.017%	$66K	$90K	10x
Bitget BABAUSDTlong	+0.0306%	8h	118.45	long leg	$2.4M	$1.7M	20x