BABA

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0169%/8h= −18.5% APRnext payment −$0.21 per $10,000 · paid last 24h −0.064%

Price spread now: Lighter against Phoenix+0.135%104s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 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

The price spread pays, funding is against you. Lighter is 0.135% dearer against Phoenix than usual: you sell high and buy low (spread +0.135% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 2.7 days. The two prices were read 104 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	118.49	0.0201	pay 0.0025% / 1h	39m 39s	$66K	$90K	10x
Short	Lighter BABA	118.65	0.0032	get 0.0004% / 1h	39m 39s	$378K	$73K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhoenixbpFee LighterbpOrdersPrice spread, now +0.135%Rate

Funding earned: −$35.48
Price spread: +0.135% → 0.000%: $13.5
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$28.98
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 10 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 Lighter live order book, 10 min ago	11.76 bp	23.6 bp −$24	26.1 bp −$261	70.6 bp −$7,061	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	118.77	+0.237%	$70K	$35K	20x	as long as short
Bybit BABAUSDT	0.0000%	8h	118.74	+0.211%	$2.2M	$647K	25x	as long as short
Gate BABA_USDT	0.0000%	8h	118.66	+0.143%	$1.5M	$1.9M	50x	as long as short
GRVT BABA_USDT_Perp	0.0000%	8h	118.64	+0.129%	$3K	$216K	10x	as long as short
SunX BABA-USDT	0.0000%	8h	118.63	+0.118%	$585	$3.6M	20x	as long as short
HTX BABA-USDT	0.0000%	8h	118.73	+0.203%	$30K	$18K	20x	as long as short
Lighter BABAshort	+0.0032%	1h	118.65	+0.135%	$378K	$73K	10x
Lighter RH BABA	+0.0032%	1h	118.59	+0.084%	$427K	$495K	10x	as long as short
Injective BABA/USDC PERP	+0.0033%	1h	115.84	−2.236%	$11K	$26K	12x	as long as short
Arcus BABA-USD	+0.0040%	1h	118.59	+0.084%	$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	118.55	+0.051%	—	$19K	10x	as long as short
tradeXYZ xyz:BABA	+0.0050%	1h	118.52	+0.025%	$11.9M	$4.1M	10x	as long as short
Polymarket Perps BABA-USD	+0.0050%	1h	118.56	+0.059%	$9K	$266K	10x	as long as short
Ondo Perps BABA-USD.P	+0.0050%	1h	118.41	−0.068%	$241K	$404K	10x	as long as short
Variational Omni BABA	+0.0060%	8h	118.65	+0.133%	$267K	$658K	—	as long as short
QFEX BABA-USD	+0.0068%	1h	118.66	+0.143%	$1.2M	$4.3M	10x	as long as short
KuCoin BABAUSDTM	+0.0100%	8h	118.57	+0.068%	$618K	$494K	20x	as long as short
Orderly PERP_BABA_USDC_mythos	+0.0100%	8h	118.59	+0.084%	$2K	$798	10x	as long as short
Extended BABA_24_5-USD	+0.0136%	1h	118.65	+0.131%	$43K	$360K	10x	as long as short
Binance BABAUSDT	+0.0139%	8h	118.65	+0.135%	$15.7M	$30.1M	20x	as long as short
Phoenix BABAlong	+0.0201%	1h	118.49	long leg	$66K	$90K	10x
Bitget BABAUSDT	+0.0869%	8h	118.62	+0.110%	$2.4M	$1.7M	20x	as long as short