BABA

Alert

Spread before costs (cost unknown: a leg has no order-book sample)+0.044%

7d average—if it closes, per $10,000$4funding while held, a day+$4.16

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BABA-USDT	115.68	0	get 0.0000% / 8h	7h 14m	$37K	$2K	20x
Short	Variational Omni BABA	115.73	0.0139	get 0.0139% / 8h	7h 14m	$357K	$517K	—

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee HTXbpFee Variational OmnibpOrdersClose when spread is

Spread captured: $4.39
Funding while held: $4.16
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$3.45
Spread needed to break even: 0.120%

Slippage unknown: HTX: no order-book sample; Variational Omni: RFQ quote, 31 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: +0.0139%
Per $10,000 a day: +$4.16
Average in range /8h: —

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 HTX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 31 min ago	2.56 bp	doesn't fit	26.5 bp −$265	doesn't fit	doesn't fit

HTX: 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 price on every exchange

against the cheapest. Click to use as the short leg.

Phoenix115.58cheapest

HTX115.68+0.087%

Ondo Perps115.71+0.112%

Variational Omni115.73+0.130%

Aster115.80+0.190%KuCoin115.81+0.199%Polymarket Perps115.81+0.199%Vest115.84+0.225%Injective115.84+0.225%QFEX115.85+0.234%Gate115.85+0.234%SunX115.85+0.234%tradeXYZ115.87+0.251%Arcus115.87+0.251%Lighter RH115.88+0.260%Bybit115.89+0.268%Extended115.91+0.283%Orderly115.91+0.286%Binance115.91+0.287%Bitget115.94+0.311%Lighter116.03+0.389%

BABA on 21 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Phoenix BABA	−0.086%	+0.0208%	1h	$78K	$129K	10x	as long as short
HTX BABA-USDTlong	0.000%	0.0000%	8h	$37K	$2K	20x
Ondo Perps BABA-USD.P	+0.026%	+0.0050%	1h	$302K	$281K	10x	as long as short
Variational Omni BABAshort	+0.044%	+0.0139%	8h	$357K	$517K	—
Aster BABAUSDT	+0.103%	0.0000%	8h	$81K	$14K	20x	as long as short
KuCoin BABAUSDTM	+0.112%	+0.0100%	8h	$601K	$882K	20x	as long as short
Polymarket Perps BABA-USD	+0.112%	+0.0050%	1h	$6K	$249K	10x	as long as short
Vest BABA-USD-PERP	+0.138%	+0.0046%	1h	—	$9K	10x	as long as short
Injective BABA/USDC PERP	+0.138%	+0.0033%	1h	$11K	$26K	12x	as long as short
QFEX BABA-USD	+0.147%	+0.0047%	1h	$1.2M	$4.8M	10x	as long as short

Show all 21 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Gate BABA_USDT	+0.147%	0.0000%	8h	$1.4M	$1.5M	50x	as long as short
SunX BABA-USDT	+0.147%	0.0000%	8h	$920	$4.1M	20x	as long as short
tradeXYZ xyz:BABA	+0.164%	+0.0050%	1h	$12.2M	$2.5M	10x	as long as short
Arcus BABA-USD	+0.164%	+0.0043%	1h	$79K	$82K	10x	as long as short
Lighter RH BABA	+0.173%	+0.0032%	1h	$464K	$419K	10x	as long as short
Bybit BABAUSDT	+0.182%	0.0000%	8h	$2.2M	$558K	25x	as long as short
Extended BABA_24_5-USD	+0.196%	+0.0176%	1h	$18K	$359K	10x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.199%	+0.0100%	8h	$2K	$1K	10x	as long as short
Binance BABAUSDT	+0.200%	+0.0178%	8h	$15.6M	$18.5M	20x	as long as short
Bitget BABAUSDT	+0.225%	+0.0141%	8h	$2.7M	$1.2M	20x	as long as short
Lighter BABA	+0.303%	+0.0032%	1h	$383K	$37K	10x	as long as short