Funding you earn now, next payment 07:00 UTC−0.0165%/8h= −18.1% APRnext payment −$0.21 per $10,000 · paid last 24h +0.067%
Price spread now: Arcus against Phoenix−0.102%49s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Arcus is 0.102% cheaper against Phoenix than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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 | Phoenix BABA | 117.16 | 0.0205 | pay 0.0026% / 1h | 14m 06s | $66K | $89K | 10x |
| Short | Arcus BABA-USD | 117.04 | 0.0040 | get 0.0005% / 1h | 14m 06s | $70K | $140K | 10x |
Phoenix BABA
Arcus BABA-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Arcus against Phoenix. 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
- −$34.68
- Price spread: −0.102% → 0.000%
- −$10.24
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Arcus: 2.25 bp × 2 orders
- −$4.5
- Net
- −$56.42
- Costs to cover
- 0.115%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Arcus: live order book, 15 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Arcus live order book, 15 min ago | 1.71 bp | 8.6 bp −$9 | 10.9 bp −$109 | doesn't fit | doesn't fit |
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 | 116.99 | −0.143% | $68K | $37K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 117.14 | −0.017% | $2.1M | $722K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 117.18 | +0.017% | $1.5M | $2.1M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 117.14 | −0.017% | $2.3M | $1.9M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 117.13 | −0.026% | $911 | $3.1M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 117.21 | +0.043% | $30K | $19K | 20x | as long as short |
| GRVT BABA_USDT_Perp | +0.0031% | 8h | 117.15 | −0.004% | $3K | $188K | 10x | as long as short |
| Lighter BABA | +0.0032% | 1h | 117.16 | 0.000% | $373K | $72K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 117.11 | −0.043% | $435K | $503K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −1.127% | $11K | $26K | 12x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
GRVT BABA_USDT_Perp
Lighter BABA
Lighter RH BABA
Injective BABA/USDC PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Arcus BABA-USDshort | +0.0040% | 1h | 117.04 | −0.102% | $70K | $140K | 10x | |
| QFEX BABA-USD | +0.0044% | 1h | 117.14 | −0.017% | $1.2M | $3.0M | 10x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 117.03 | −0.111% | — | $19K | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 117.08 | −0.068% | $8K | $286K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 117.07 | −0.077% | $231K | $428K | 10x | as long as short |
| Variational Omni BABA | +0.0063% | 8h | 117.10 | −0.054% | $337K | $779K | — | as long as short |
| tradeXYZ xyz:BABA | +0.0067% | 1h | 117.04 | −0.102% | $11.8M | $4.4M | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 117.02 | −0.119% | $608K | $386K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 117.13 | −0.026% | $2K | $798 | 10x | as long as short |
| Binance BABAUSDT | +0.0127% | 8h | 117.15 | −0.009% | $15.3M | $32.4M | 20x | as long as short |
| Extended BABA_24_5-USD | +0.0128% | 1h | 117.12 | −0.032% | $47K | $309K | 10x | as long as short |
| Phoenix BABAlong | +0.0205% | 1h | 117.16 | long leg | $66K | $89K | 10x |
QFEX BABA-USD
Vest BABA-USD-PERP
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
Variational Omni BABA
tradeXYZ xyz:BABA
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Binance BABAUSDT
Extended BABA_24_5-USD