Funding you earn now, next payment 23:00 UTC−0.0244%/8h= −26.7% APRnext payment −$0.30 per $10,000 · paid last 24h −0.063%
Price spread now: Lighter RH against Phoenix−0.052%75s7-day average −0.040% · you buy dearer than you sell
Net, funding: paid 7d − costs−$64as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.260% of the position
Funding, last 7 days−0.382%−$38 on $10k
+Price spread, last 3 days (all we have)+0.069%+$7 · spread now −0.052%, 7d avg −0.040%
=Together, before fees−0.312%+ Points / potential airdropLighter RH: Points live · farm board−$31 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.040%, so right now this pair is about funding alone: −$7 a day on $10k at the current rate. The two prices were read 75 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 | 116.34 | 0.0276 | pay 0.0034% / 1h | 38m 00s | $65K | $143K | 10x |
| Short | Lighter RH BABA | 116.28 | 0.0032 | get 0.0004% / 1h | 38m 00s | $446K | $580K | 10x |
Phoenix BABA
Lighter RH BABAFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH 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
- −$51.14
- Price spread: −0.052% → −0.040%
- −$1.12
- Slippage, 4 orders
- −$19
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$78.26
- Costs to cover
- 0.260%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 32 min ago; Lighter RH: live order book, 39 min ago.
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 live order book, 32 min ago | 2.58 bp | 10.5 bp −$10 | 21.9 bp −$219 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 39 min ago | 1.72 bp | 2.5 bp −$2 | 10.1 bp −$101 | doesn't fit | doesn't fit |
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 | 116.24 | −0.088% | $75K | $27K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.23 | −0.095% | $2.2M | $595K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.27 | −0.060% | $1.4M | $1.7M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.28 | −0.052% | $2.5M | $1.4M | 20x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.24 | −0.086% | $747 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.38 | +0.034% | $37K | $2K | 20x | as long as short |
| Variational Omni BABA | +0.0028% | 8h | 116.29 | −0.043% | $300K | $620K | — | as long as short |
| Lighter RH BABAshort | +0.0032% | 1h | 116.28 | −0.052% | $446K | $580K | 10x | |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.430% | $11K | $26K | 12x | as long as short |
| Vest BABA-USD-PERP | +0.0046% | 1h | 116.20 | −0.120% | — | $9K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
SunX BABA-USDT
HTX BABA-USDT
Variational Omni BABA
Injective BABA/USDC PERP
Vest BABA-USD-PERPShow all 22 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| QFEX BABA-USD | +0.0047% | 1h | 116.23 | −0.095% | $1.2M | $5.2M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 116.17 | −0.146% | $10K | $263K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 116.25 | −0.077% | $243K | $352K | 10x | as long as short |
| GRVT BABA_USDT_Perp | +0.0068% | 8h | 116.30 | −0.038% | $2K | $248K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 116.23 | −0.095% | $602K | $599K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.25 | −0.077% | $2K | $1K | 10x | as long as short |
| Lighter BABA | +0.0112% | 1h | 116.44 | +0.086% | $385K | $49K | 10x | as long as short |
| Extended BABA_24_5-USD | +0.0120% | 1h | 116.27 | −0.058% | $42K | $383K | 10x | as long as short |
| Binance BABAUSDT | +0.0123% | 8h | 116.29 | −0.041% | $15.3M | $21.4M | 20x | as long as short |
| tradeXYZ xyz:BABA | +0.0159% | 1h | 116.26 | −0.069% | $12.1M | $3.0M | 10x | as long as short |
| Phoenix BABAlong | +0.0276% | 1h | 116.34 | long leg | $65K | $143K | 10x | |
| Arcus BABA-USD | +0.0394% | 1h | 116.30 | −0.034% | $78K | $94K | 10x | as long as short |
QFEX BABA-USD
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
GRVT BABA_USDT_Perp
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Lighter BABA
Extended BABA_24_5-USD
Binance BABAUSDT
tradeXYZ xyz:BABA
Arcus BABA-USD