Funding you earn now, next payment 20:00 UTC−0.0295%/8h= −32.3% APRnext payment −$0.37 per $10,000 · paid last 24h −0.032%
Price spread now: Ondo Perps against Phoenix−0.138%48s7-day average −0.079% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.320%−$32 on $10k
+Price spread, last 3 days (all we have)+0.001%$0 · spread now −0.138%, 7d avg −0.079%
=Together, before fees−0.319%+ Points / potential airdropOndo Perps: Active · farm board−$32 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Ondo Perps is 0.059% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.079%). Swap the legs. The two prices were read 48 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 | 116.06 | 0.0345 | pay 0.0043% / 1h | 30m 32s | $79K | $129K | 10x |
| Short | Ondo Perps BABA-USD.P | 115.90 | 0.0050 | get 0.0006% / 1h | 30m 32s | $248K | $328K | 10x |
Phoenix BABA
Ondo Perps BABA-USD.PFunding history
latest
Range statsloading…
Price spread between the two exchanges
Ondo Perps 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
- −$61.94
- Price spread: −0.138% → −0.079%
- −$5.86
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Ondo Perps: 2.5 bp × 2 orders
- −$5
- Net
- −$79.8
- Costs to cover
- 0.120%
- Break-even
- never at this rate
Slippage unknown: Phoenix: live order book, 12 min ago; Ondo Perps: 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 Phoenix live order book, 12 min ago | 4.31 bp | 13.0 bp −$13 | 28.7 bp −$287 | doesn't fit | doesn't fit |
| Sell Ondo Perps no order-book sample | — | — | — | — | — |
Ondo Perps: 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 | 116.03 | −0.022% | $73K | $25K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 116.01 | −0.043% | $2.2M | $600K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 116.04 | −0.017% | $1.4M | $1.6M | 50x | as long as short |
| Bitget BABAUSDT | 0.0000% | 8h | 116.01 | −0.043% | $2.5M | $1.3M | 20x | as long as short |
| Variational Omni BABA | 0.0000% | 8h | 116.05 | −0.007% | $289K | $606K | — | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 116.05 | −0.009% | $927 | $4.2M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 116.04 | −0.017% | $37K | $2K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 116.15 | +0.078% | $384K | $51K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 116.03 | −0.026% | $450K | $583K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −0.190% | $11K | $26K | 12x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
Bitget BABAUSDT
Variational Omni BABA
SunX BABA-USDT
HTX BABA-USDT
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 | |
|---|---|---|---|---|---|---|---|---|
| Vest BABA-USD-PERP | +0.0046% | 1h | 115.99 | −0.060% | — | $9K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 115.98 | −0.069% | $12.1M | $3.0M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 115.94 | −0.103% | $10K | $263K | 10x | as long as short |
| Ondo Perps BABA-USD.Pshort | +0.0050% | 1h | 115.90 | −0.138% | $248K | $328K | 10x | |
| QFEX BABA-USD | +0.0065% | 1h | 116.03 | −0.026% | $1.2M | $4.9M | 10x | as long as short |
| Extended BABA_24_5-USD | +0.0080% | 1h | 116.05 | −0.012% | $18K | $359K | 10x | as long as short |
| Binance BABAUSDT | +0.0082% | 8h | 116.06 | −0.003% | $15.5M | $19.9M | 20x | as long as short |
| GRVT BABA_USDT_Perp | +0.0086% | 8h | 116.00 | −0.054% | $3K | $269K | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 115.94 | −0.103% | $602K | $722K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythos | +0.0100% | 8h | 116.04 | −0.017% | $2K | $1K | 10x | as long as short |
| Phoenix BABAlong | +0.0345% | 1h | 116.06 | long leg | $79K | $129K | 10x | |
| Arcus BABA-USD | +0.0765% | 1h | 116.04 | −0.017% | $79K | $93K | 10x | as long as short |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
QFEX BABA-USD
Extended BABA_24_5-USD
Binance BABAUSDT
GRVT BABA_USDT_Perp
KuCoin BABAUSDTM
Orderly PERP_BABA_USDC_mythos
Arcus BABA-USD