Funding you earn now, next payment 05:00 UTC+0.0239%/8h= +26.1% APRnext payment +$0.30 per $10,000 · paid last 24h +0.063%
Price spread now: Phoenix against Lighter−0.051%74s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.202%+$20 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories
Funding pays, the price is against you. Phoenix is 0.051% cheaper against Lighter than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 17 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.202% in total) that is about 42 hours. The two prices were read 74 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 | Lighter BABA | 117.75 | 0.0032 | pay 0.0004% / 1h | 5m 50s | $375K | $73K | 10x |
| Short | Phoenix BABA | 117.69 | 0.0271 | get 0.0034% / 1h | 5m 50s | $66K | $90K | 10x |
Lighter BABA
Phoenix BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Lighter. 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
- $50.13
- Price spread: −0.051% → 0.000%
- −$5.1
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- $38.04
- Costs to cover
- 0.070%
- Break-even
- 1.7 days
Slippage unknown: Lighter: live order book, 34 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 Lighter live order book, 34 min ago | 11.41 bp | 20.3 bp −$20 | 22.5 bp −$225 | 67.1 bp −$6,711 | 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 | 117.87 | +0.102% | $69K | $36K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 117.68 | −0.059% | $2.1M | $720K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 117.71 | −0.034% | $1.5M | $2.0M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 117.71 | −0.034% | $2.4M | $1.8M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 117.69 | −0.051% | $824 | $3.3M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 117.76 | +0.008% | $30K | $18K | 20x | as long as short |
| Lighter BABAlong | +0.0032% | 1h | 117.75 | long leg | $375K | $73K | 10x | |
| Lighter RH BABA | +0.0032% | 1h | 117.66 | −0.076% | $436K | $514K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −1.622% | $11K | $26K | 12x | as long as short |
| Arcus BABA-USD | +0.0040% | 1h | 117.66 | −0.076% | $71K | $110K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
Lighter RH BABA
Injective BABA/USDC PERP
Arcus BABA-USDShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 117.71 | −0.034% | — | $19K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 117.44 | −0.263% | $11.9M | $4.4M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 117.63 | −0.102% | $9K | $266K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 117.57 | −0.153% | $238K | $405K | 10x | as long as short |
| QFEX BABA-USD | +0.0073% | 1h | 117.69 | −0.051% | $1.2M | $3.2M | 10x | as long as short |
| GRVT BABA_USDT_Perp | +0.0088% | 8h | 117.76 | +0.005% | $3K | $193K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 117.63 | −0.102% | $612K | $420K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 117.68 | −0.059% | $2K | $798 | 10x | as long as short |
| Variational Omni BABA | +0.0108% | 8h | 117.67 | −0.064% | $265K | $658K | — | as long as short |
| Binance BABAUSDT | +0.0174% | 8h | 117.69 | −0.051% | $15.5M | $31.6M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0176% | 1h | 117.66 | −0.079% | $44K | $355K | 10x | as long as short |
| Phoenix BABAshort | +0.0271% | 1h | 117.69 | −0.051% | $66K | $90K | 10x |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
GRVT BABA_USDT_Perp
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Variational Omni BABA
Binance BABAUSDT
Extended BABA_24_5-USD