Funding you earn now, next payment 02:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.046%
Price spread now: Orderly against Phoenix+0.150%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 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
The price spread pays, funding is against you. Orderly is 0.150% dearer against Phoenix than usual: you sell high and buy low (spread +0.150% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.8 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix BABA | 120.05 | 0.0203 | pay 0.0025% / 1h | 29m 15s | $67K | $68K | 10x |
| Short | Orderly PERP_BABA_USDC_mythos | 120.23 | 0.0100 | get 0.0100% / 8h | 5h 29m | $2K | $798 | 10x |
Phoenix BABA
Orderly PERP_BABA_USDC_mythosFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$21.72
- Price spread: +0.150% → 0.000%
- $14.99
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$19.73
- Costs to cover
- 0.130%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Orderly: 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 no order-book sample | — | — | — | — | — |
| Sell Orderly no order-book sample | — | — | — | — | — |
Phoenix and Orderly: 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 | 120.28 | +0.193% | $78K | $28K | 20x | as long as short |
| Bybit BABAUSDT | 0.0000% | 8h | 120.18 | +0.108% | $2.2M | $641K | 25x | as long as short |
| Gate BABA_USDT | 0.0000% | 8h | 120.27 | +0.183% | $1.5M | $1.7M | 50x | as long as short |
| GRVT BABA_USDT_Perp | 0.0000% | 8h | 119.88 | −0.144% | $3K | $219K | 10x | as long as short |
| SunX BABA-USDT | 0.0000% | 8h | 120.08 | +0.025% | $555 | $3.5M | 20x | as long as short |
| HTX BABA-USDT | 0.0000% | 8h | 120.34 | +0.242% | $35K | $8K | 20x | as long as short |
| Lighter BABA | +0.0032% | 1h | 120.16 | +0.092% | $383K | $72K | 10x | as long as short |
| Lighter RH BABA | +0.0032% | 1h | 120.09 | +0.033% | $432K | $507K | 10x | as long as short |
| Injective BABA/USDC PERP | +0.0033% | 1h | 115.84 | −3.507% | $11K | $26K | 12x | as long as short |
| Arcus BABA-USD | +0.0040% | 1h | 119.79 | −0.217% | $73K | $109K | 10x | as long as short |
Aster BABAUSDT
Bybit BABAUSDT
Gate BABA_USDT
GRVT BABA_USDT_Perp
SunX BABA-USDT
HTX BABA-USDT
Lighter BABA
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 | 120.34 | +0.242% | — | $19K | 10x | as long as short |
| tradeXYZ xyz:BABA | +0.0050% | 1h | 120.23 | +0.150% | $12.2M | $3.9M | 10x | as long as short |
| Polymarket Perps BABA-USD | +0.0050% | 1h | 120.35 | +0.250% | $10K | $264K | 10x | as long as short |
| Ondo Perps BABA-USD.P | +0.0050% | 1h | 119.90 | −0.125% | $243K | $389K | 10x | as long as short |
| QFEX BABA-USD | +0.0061% | 1h | 120.22 | +0.142% | $1.2M | $4.4M | 10x | as long as short |
| KuCoin BABAUSDTM | +0.0100% | 8h | 120.22 | +0.142% | $626K | $513K | 20x | as long as short |
| Orderly PERP_BABA_USDC_mythosshort | +0.0100% | 8h | 120.23 | +0.150% | $2K | $798 | 10x | |
| Variational Omni BABA | +0.0101% | 8h | 119.88 | −0.145% | $270K | $658K | — | as long as short |
| Extended BABA_24_5-USD | +0.0160% | 1h | 120.21 | +0.130% | $44K | $368K | 10x | as long as short |
| Binance BABAUSDT | +0.0161% | 8h | 120.10 | +0.042% | $16.1M | $27.1M | 20x | as long as short |
| Phoenix BABAlong | +0.0203% | 1h | 120.05 | long leg | $67K | $68K | 10x | |
| Bitget BABAUSDT | +0.0805% | 8h | 120.10 | +0.042% | $2.5M | $1.4M | 20x | as long as short |
Vest BABA-USD-PERP
tradeXYZ xyz:BABA
Polymarket Perps BABA-USD
Ondo Perps BABA-USD.P
QFEX BABA-USD
KuCoin BABAUSDTM
Variational Omni BABA
Extended BABA_24_5-USD
Binance BABAUSDT
Bitget BABAUSDT